Due Diligence and the IFA
Written on 25/02/2019
DUE DILIGENCE REVIEW
How to prepare your biz for sale
Your firm will one day get a letter like this. When a buyer looks at your business, they hire a compliance firm to complete a due diligence review.
Here is one we received recently on a client's behalf.
“It was good to speak earlier. As discussed, can you please provide us with the following documentation to help us conduct our review:
- Client brochure
- Client remuneration agreement
- Any regulatory correspondence from the past 6 years, including any FCA/ FSA assessment
- The last three reports from your compliance consultant (IFA Compliance)
- The result of any file checks (if any) that IFAC Ltd have completed in the past 12 months
- Any other TCF MI that the firm produces
- The firm’s Training and Competence scheme (or any other training and competence material)
- The firm’s new business register for the past 12 months
- A copy of the firm’s PII contract
- The firm’s complaints procedure
If you have any questions about any of these documents please give me a call or drop me an email.
We aim to start the review as soon as we have received the documents.
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