Enable: by Apricity – Case Study

We recently wrote a blog outlining our MASTER: Training and Competence Scheme workshop and delved into why having a good framework in place is vital. We’ve now taken it one step further by looking at a firm we have helped with their T&C needs using our Enable service…

Meet Rob

We were approached by a firm that wanted support in progressing one of their top-performing advisers into a Senior Manager Function, with the end goal of him becoming a Director and owning a share of the business. Although it was evident from the start that Rob had excellent industry knowledge and experience, was chartered and much loved by his clients, as someone who had always ‘worked for firms’, he had no practical knowledge of running an IFA practice, or any experience of what the Compliance Officer and MLRO role entailed.

Starting point

Knowing what the long-term objectives of the plan were, our starting point was to carry out a Training Needs Analysis with Rob (and with the owners of the firm) to check that what both parties wanted was aligned. Rob constructed a Personal Development Plan, which we continue to review on a monthly basis, to keep updated with his progress. These two documents are central to Rob’s development application.

We then scoped out activities over the next three, six and twelve months highlighting what both parties would be committing to and what we would hope to achieve at the end of these periods.

Relevant areas to work on

We have worked on so many areas with Rob that have benefitted him and the business – some examples are as follows;

  • Leadership development.
  • Effective use of management information.
  • Maintaining a strong, working relationship with the FCA.
  • How the role of the Compliance Officer and the MLRO keeps you, your clients and your business safe.
  • Growing a business.

All of these have been reviewed in our 1-1’s and validated by regular assessment. Rob now joins the Quarterly Check-In meetings we have at firm level to talk around the key themes we want to ensure the firm is aware of (industry, regulatory, market). The Apricity system not only provides Rob access to regular testing and a library of documents relevant to Senior Manager positions but is also a permanent record of our field days, observations, coaching sessions and KPI reviews.

To summarise 

This is one of the many examples of how we work with individuals and firms. Some of our clients want us to support succession planning and progress individuals to senior roles. Other businesses want us to support their advisers to be the best they can be.

The added bonus of this example is that all of the developmental evidence can be provided to the FCA when we support Rob and the firm with his Senior Manager application (which we will be submitting after just 12 months of working together).

Find out how we can help you by downloading our Enable; by Apricity brochure here.

Paul Sylvester-Evans – Head of Regulatory Support