Going Directly Authorised with Tenet Compliance Services 

10.01.24 04:25 PM

Are you thinking of getting away from those eye-watering Network retention fees and running your business your way? Going Directly Authorised can be a challenge but it’s our bread and butter, we’ve helped hundreds of financial and mortgage advisers go directly authorised.


One of our dedicated regulatory consultants will guide you through our easy 5 stage authorisation process and make sure you have the right compliance support and research to hit the ground running once you’re out the other side.


Don’t just take our word for it, here’s what Jeff Lange, Chief Executive Officer at TFAS Wealth Ltd had to say about the support he received from our team.


“When we decided to make the substantial transition to leave the network and to become a directly authorised firm we knew from the outset that the process would be challenging and at times even daunting.  This was especially true in light of significant regulatory changes and needing to ensure that our organisation was aligned with the emerging Consumer Duty framework.  After a thorough review of compliance support options available we decided that TCS stood out as our partner of choice.


Right from the beginning, TCS assigned Nick Watson, a highly competent and dependable consultant to assist us with developing our business plan and preparing our application.  Nick’s insights into regulatory expectations was absolutely invaluable, and he helped to simplify the complicated landscape.  This helped us to prioritise resources and meant that we were weren’t caught off guard at any stage throughout the application process.  This made a big difference in our early stages of confidence and ultimately increased our commercial efficiencies and resource allocation.


Working with TCS meant that we had a reliable and pre-arranged exit plan from the network when it came to client novation and managing cashflow from pipeline still with the network during the transition.  The transition from TNS to TCS was made a lot smoother as our income stream was maintained throughout the novation process. TCS were able to efficiently obtain the necessary information from TNS, including regulatory references, which made the application process more robust and efficient.  TCS also assisted with our understanding of capital adequacy requirements and how to best approach our PI application, having the advantage of historical knowledge of our business from our time as a network member.


Once contact with the FCA started, TCS supported us every step of the way through multiple interactions, helping to prepare for FCA interviews and assisting with responses to FCA queries.  Ultimately this was instrumental in our successful application.


Once FCA approval was guaranteed TCS helped us to plan for our go live activities.  This included benchmarking, reviews and support to implement all aspects of Consumer Duty with confidence.  Their file review service provided comfort and guidance, helping to make our advice process more robust whilst aligning with our risk appetite.


Overall, we would highly recommend TCS as compliance support service.  They are personable and provide bespoke and tailored value adding support!”

Ellen Hamilton