Never before has your choice in an Adviser group been so important, or confusing. Whether you are a sole operator, or part of a bigger operation, the new regulatory regime means you and your business will face a multitude of new challenges. We recommend that Advisers that currently have their own clients and operate as a standalone business consider becoming a Financial Advice Provider (FAP). This enables you to control your destiny, potentially maximize revenues, and run your business the way you want to, within the confines of the new regulatory regime.
Above all else that means having a proactive advocate in your corner that fully understands the complexity of running a modern Adviser business is paramount. Setting up and running your own FAP takes time and, capital investment. But it is worth it in the long run if you keep things simple and have access to great systems and support.
Newpark provides an incubator for Advisers that wish to obtain their own Financial Advice Provider (FAP) licence and maintain compliance by:
- Newpark/Strategi toolkit ezine. This monthly publication outlines where you need to be at a point in time, what you need to do, where to get the resources and how to ask for help.
- Online resource site. Strategi will provide a dedicated Newpark website where you can download guidance material, view articles relating to building your FAP, gain information on the FAP operations manual and how to obtain it, plus compliance obligations post 15 March 2021. This site will provide you with quick access to the key tools you will need.
- Building sales skills through web training and mentoring programs..
- Newpark has negotiated excellent pricing of Strategi services and resources for its members. When contacting Strategi, ensure you tell them you are a Newpark adviser. The first ezine will be arriving within the next two weeks. However, if you have specific or urgent queries, then please email firstname.lastname@example.org
- Building a network for connection and mentoring.