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File checks offered online

Bankhall has introduced a compliance service that all- ows members to conduct file checks online.

The service, launched at its Berlin conference, has three formats – a full review, suitability review or pre-sale review.

Costs range from 30 for a pre-sale or suitability review on non-investment products to 75 for an investment, pension or mortgage plan. For some more complex plans, the charge will be 75 an hour.

Bankhall says it introduced the service following member demand, with the FSA regularly requiring at least 10 per cent of files be reviewed.

Compliance director Roy McKean said it acts as a healthcheck, enabling IFAs to pinpoint compliance gaps in their firm.

McKean said: “All these steps are aimed a freeing up the IFA’s time. It also provides a full audit trail the FSA can lay its hands on if ever it is required.”

Bankhall is also giving members access to Techlink services from Technical Connection, in association with Zurich, via its revamped technical centre.

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