TMA launches two new compliance packages to support DA firms

As part of the ‘Lite’ and ‘Extra Lite’ packages, advisers will benefit from:

• Access to TMA’s document library, which includes items such as the Club’s vulnerable customers policy and data security guidelines,
• Access to regular compliance bulletins providing an overview of recent and planned regulatory changes,
• One file review per month plus feedback for reference, focusing on quality, affordability, documentation and disclosure,
• Access to an experienced field compliance manager to assist with day-to-day queries.

With the Club’s ‘Lite’ package, TMA advisers will also be able to take advantage of a remote visit whereby a field compliance manager will carry out a regulatory review of their business. Areas covered could include conduct risk, customer outcomes and the Senior Managers & Certification Regime (SMCR), with a report outlining guidance and recommendations to be shared with firms following an assessment.

For further support, advisers will be able to choose from a range of supplements, such as online compliance-focused tests and equity release file reviews, which can be added to the ‘Lite’ and ‘Extra Lite’ packages on an ad-hoc basis.

Lisa Martin, development director at TMA, commented: “At TMA, we recognise the importance of quality regulatory support for advisers and one of our top priorities is ensuring that firms are fully supported when it comes to remaining compliant – particularly as the Covid-19 pandemic continues to impact their business. With our competitive and flexible compliance proposition, more advisers will be able to design a package that is bespoke to their business’ specific needs, making sure that firms have the support they need, as and when they need it. We will continue to be committed to providing greater choice and flexibility to DA firms, and this will be a key focus for us over the coming months.”