On the 7th of September 2023 our firm Haverfords, became directly authorised by the Financial Conduct Authority under the Financial Services Register number: 989644.
Being "directly authorised" by the Financial Conduct Authority (FCA) as an Independent Financial Adviser (IFA) means that Haverfords has gone through a formal regulatory process to obtain authorisation directly from the FCA to provide independent financial advice and services to clients without the need for an intermediary or network.
Being "directly authorised" by the Financial Conduct Authority (FCA) as an Independent Financial Adviser (IFA) means that Haverfords has gone through a formal regulatory process to obtain authorisation directly from the FCA to provide independent financial advice and services to clients without the need for an intermediary or network.
Here's what it means to be directly authorised by the FCA:
Independence: Haverfords is considered independent, which means we are not tied to a specific financial institution or product provider. We have the freedom to offer advice and recommend financial products from the entire market, without being restricted to a limited range of options.
Regulatory Oversight: We must adhere to the FCA's regulatory requirements and standards. Haverfords is subject to ongoing supervision and monitoring by the FCA to ensure compliance with rules and regulations related to conduct, transparency, client protection, and more.
Professional Qualifications: To obtain FCA authorisation Haverfords had to meet specific qualification and competency requirements. We are required to hold recognised financial planning or advisory qualifications and demonstrate our ability to provide suitable and ethical advice to our clients.
Professional Standards: We are expected to uphold high professional and ethical standards. Haverfords must maintain appropriate records, handle client data responsibly, and resolve any complaints or disputes in a fair and transparent manner.
Compliance and Reporting: We are responsible for ensuring that our business operations comply with FCA regulations. We must report regularly to the FCA and provide information about our financial stability, risk management procedures, and compliance with regulatory requirements.
Client Compensation: We participate in Financial Services Compensation Scheme (FSCS), to provide our clients with protection in case our firm becomes insolvent or is unable to meet its liabilities.
Continuing Professional Development (CPD): All Haverfords advisers and staff are required to engage in ongoing CPD to maintain and update our knowledge and skills, ensuring we stay current with industry trends and changes in regulations.
All of these changes will have no impact on our day-to-day advice, cost, or services.
If you wish to discuss our authorisation with us, please contact Kat on 01733 308666.
Independence: Haverfords is considered independent, which means we are not tied to a specific financial institution or product provider. We have the freedom to offer advice and recommend financial products from the entire market, without being restricted to a limited range of options.
Regulatory Oversight: We must adhere to the FCA's regulatory requirements and standards. Haverfords is subject to ongoing supervision and monitoring by the FCA to ensure compliance with rules and regulations related to conduct, transparency, client protection, and more.
Professional Qualifications: To obtain FCA authorisation Haverfords had to meet specific qualification and competency requirements. We are required to hold recognised financial planning or advisory qualifications and demonstrate our ability to provide suitable and ethical advice to our clients.
Professional Standards: We are expected to uphold high professional and ethical standards. Haverfords must maintain appropriate records, handle client data responsibly, and resolve any complaints or disputes in a fair and transparent manner.
Compliance and Reporting: We are responsible for ensuring that our business operations comply with FCA regulations. We must report regularly to the FCA and provide information about our financial stability, risk management procedures, and compliance with regulatory requirements.
Client Compensation: We participate in Financial Services Compensation Scheme (FSCS), to provide our clients with protection in case our firm becomes insolvent or is unable to meet its liabilities.
Continuing Professional Development (CPD): All Haverfords advisers and staff are required to engage in ongoing CPD to maintain and update our knowledge and skills, ensuring we stay current with industry trends and changes in regulations.
All of these changes will have no impact on our day-to-day advice, cost, or services.
If you wish to discuss our authorisation with us, please contact Kat on 01733 308666.
