Services for IFAs
Mystery Shopping
Independent assessment of your firm's advice process from the client's perspective - identifying gaps, testing compliance and providing clear, actionable findings.
See your firm through your client's eyes
The FCA expects firms to test their customer journey, not just design it. Mystery shopping provides an objective, evidence-based view of how your advice process actually operates in practice, rather than how it is documented in policy.
Verstehen designs and conducts mystery shopping exercises tailored to your firm's specific advice areas and risk profile. Our findings are clear, practical, and focused on helping you improve, not simply identifying problems.
What we provide
Mystery shopping exercise design
Design of a bespoke mystery shopping exercise, defining the scenarios, the assessment criteria, and the methodology, tailored to your firm's advice areas and the specific risks you want to test.
Initial contact and fact-find assessment
Assessment of the initial client contact and fact-finding process, testing the quality of information gathering, the identification of client needs and the overall client experience.
Advice process assessment
Evaluation of the full advice process, from initial meeting through to recommendation, assessing suitability, clarity of communication and compliance with FCA requirements.
Suitability report review
Independent review of the suitability report produced as part of the mystery shopping scenario, assessing clarity, completeness and compliance with FCA requirements.
Findings report and recommendations
A clear, written report of findings identifying strengths, weaknesses and specific areas for improvement, with practical recommendations and a suggested action plan.
Objective, expert, constructive
Our mystery shopping exercises are conducted by experienced compliance professionals who understand both the regulatory requirements and the practical realities of delivering financial advice. Our findings are objective, evidence-based and presented constructively.
- Scenarios designed around your specific advice areas
- Conducted by experienced compliance professionals
- Objective, evidence-based findings
- Clear written report with specific recommendations
- Fully confidential - results shared only with your firm
Test your advice process independently
Mystery shopping is one of the most effective ways to identify gaps in your customer journey before the FCA does. Get in touch to discuss a tailored exercise for your firm.