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Millfield publishes compliance guides

Millfield is producing a series of advice suitability guides for members who still need help with documentation when facing rising compliance standards.

The series will launch at the end of September and a total of 15 guides will be issued throughout the rest of 2005. They will be available online by the end of the year, says training and development director Alec Adams.

The programme is being piloted in a paper-based format, with T&C supervisors and a sample of IFAs. The first tranche will be available on Millfield’s intranet in three weeks.

A generic guide on Millfield’s expected standards on risk recording and suitability documentation will kickstart the programme, with other specialist titles to follow including film partnerships, IHT and venture capital trusts.

The guides will include checklists which will be hyperlinked to detailed definitions and background information. The IFA group is also launching workshops to help members use the guides.

Adams says: “Although IFAs like the freedom to advise clients in the way they would like, they admit that they still need help on accurate documentation, particularly in the face of increased compliance standards and regulation.”


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