Services for IFAs
Skilled Person Support
Expert, independent support for firms subject to an FCA Section 166 Skilled Person review - we can help you navigate the process with confidence and present your firm effectively.
Facing a Section 166 review
A Section 166 Skilled Person review is one of the most significant regulatory interventions a firm can face. The process is demanding, the stakes are high and the FCA's expectations are exacting. Firms that are well-prepared and well-supported are better placed to achieve a proportionate outcome.
Verstehen provides independent expert support to firms subject to s166 reviews. We help firms understand what is being asked of them, prepare their response and engage constructively with the process drawing on deep experience of FCA expectations and the realities of regulated financial advice.
What we provide
Initial assessment and preparation
An immediate assessment of the scope and implications of the s166 requirement - helping your firm understand what is being asked, what the process involves, and how best to prepare.
Information request support
Support in responding to information requests from the skilled person - ensuring responses are accurate, complete and presented in a way that reflects well on your firm's compliance culture.
Internal review and gap analysis
An independent internal review of the areas under scrutiny - identifying issues before the skilled person does and supporting the development of a credible remediation plan.
Skilled person liaison support
Support in managing the relationship with the skilled person - helping your firm engage constructively, respond promptly and present its position clearly and professionally.
Remediation planning
Support in developing and implementing a remediation plan in response to skilled person findings - ensuring the plan is proportionate, credible and capable of satisfying the FCA.
Post-review support
Ongoing support following the conclusion of the s166 review - helping your firm implement required changes, evidence progress to the FCA and reduce the risk of further regulatory action.
Calm, expert guidance under pressure
A Section 166 review is stressful. Our role is to bring calm, expert guidance to a high-pressure situation - helping your firm respond effectively, present itself well and achieve the best possible outcome. We have significant experience of FCA expectations and the s166 process.
- Deep experience of FCA regulatory processes
- Rapid mobilisation - available at short notice
- Independent - no conflicts with the skilled person
- Focused on achieving a proportionate outcome
- Fully confidential and professionally indemnified
- Support available throughout the full process
Subject to a Section 166 review?
Time matters. The sooner you have expert support in place, the better positioned your firm will be. Get in touch as early as possible to discuss how we can help.