Hi there and welcome to the new Apricity site!
The Apricity service has been in development for over a year. The idea came about following constant feedback from our clients at Para-Sols about the negative experience they get with compliance. It is seen in such a bad light, rightly or wrongly, and we figured it might be time to change that.
Everyone, advisers, compliance, paraplanners and so on, should be working to the same common goal, ensuring the right thing is done for the end client; so why all the tension?
We think part of the difficult relationship between advisers and compliance is down to communication. Good compliance support should be just that – supportive. They should be a helping hand to advisers, not there to criticise everything they do. And this is at the forefront of our service.
Likewise, we think innovation in technology is sorely missing in the compliance world. Why are file checks done manually, by a compliance specialist who has driven 100 miles to sit in an office reviewing paper files? Why does this have to cost an adviser a day’s work? Why is monitoring staff within a firm, and managing the T&C framework, so time consuming and manual? Surely in 2017, all these things can be done in a much more intuitive, simple way?
We knew the frustrations from advisers, and so our starting point was to sit in a room with Rory Percival at the end of 2016, fresh from the FCA, to get the perspective of what the regulator wanted and with existing compliance consultants to understand the challenges of implementing what the regulator wants. We actually found everyone to be on the same page – it was nowhere near as contentious a session as we thought it might be!
Armed with this, we undertook market research, asking a range of adviser firms what they like, and dislike, about their existing compliance support and what they felt was missing.
We used this range of research to draw up what we think good looks like in compliance; forward thinking (not retrospective), helpful and friendly, and embracing technology to take away the legwork.
The result? Our new service, which comprises our beautiful system, that provides compliance support in an automated, simple to use format (which can be personalised to your own firm), backed up by clever, and not dull, humans! Compliance and regulation are serious and extremely important to you and your business. But that does not mean they have to be unnecessarily complex and difficult to follow.
So we’re here to change the face of compliance! It’s a pretty bold mission but one we’re passionate about. We want to support advisers, help them navigate the maze of regulation so they can focus on their clients. We want them to feel confident having our support and we even want them, dare I say it, to like compliance! It’s a big change, but all change has to start somewhere. And this is our start point.
Have a look around the site, sign up to be a beta tester if that’s your thing, drop us a line with your thoughts on our service, or your frustrations with existing compliance. The more we hear from you, the more we can tailor what we do.
Welcome to the Apricity movement.