Firstly, Mel Holman CFPCM, of Compliance and Training Services explained clearly what's needed for a 'good file' in terms of compliance requirements and what the FCA would be expecting to see.
It was clear there wasn't a 'one size fits all.' However, whether you are restricted, or independent, there are a number of things that need to be well defined, including know your client, the research behind any product recommended and framing the suitability report to ensure the client would be in an informed position. One very specific point was to ensure that the fact find, or mind map, wasn't overwritten each time you saw a client and that you had one for each stage of advice. In addition, Mel mentioned the usual 'compliancy' checks such as anti-money laundering and data protection, leading through to what's required on applications.

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There were a number of questions from the audience and feedback afterwards proved it to be a very valuable session.
Our second speaker, Alan Smith of Capital Asset Management, recounted how I had collared him at a London event the year before and persuaded him to come and talk – especially when he said he only did one talk a year. Alan talked us through how he came to revamp his business, making it very
client centric, focusing on what a client wants, rather than what you might think they want. Keeping the client language friendly is vital, to ensure real engagement with the client. Financial organisation for clients in terms of all their financial affairs, not just those you manage, gives them comfort in knowing there is someone who has the entire picture. It's all about those 3am moments, and understanding what keeps a client awake at night. Make sure you are the solution. In addition, aside from focusing on the clients, it's focusing on your internal team and operations, scheduling regular improvement slots in.
Both speakers were extremely well received, and one member emailed me after saying: "Can I commend you for organising a great meeting yesterday? Both speakers were excellent offering both practical advice and suggestions as well as really useful insight. I took away a few great ideas to incorporate into my daily work."
That's what makes running these branch meetings so worthwhile.