"We are not sure how our CIP fits in with Consumer Duty."
Since 2002, The Timebank have built a team with diverse skills, experiences and knowledge to help clients with projects like this.
The Timebank can be a flexible addition to your team. This is far more effective than employing someone to do the same job, particularly if it is a short-term project or job that doesn’t need a full-time employee.
Customer profile
The customer is a sole‑trader Independent Financial Adviser based in the North of England, directly authorised with external compliance support and assisted by a part‑time administrator. They have built strong, long‑standing client relationships from years spent at a larger national IFA before establishing their own practice. Concerned about meeting compliance requirements and rising operational demands, they are keen to avoid hiring a full‑time paraplanner. They also worry that a growing backlog could affect client sentiment and the quality of service.
Objective
- Establish a clear, consistent workflow to manage advice cases and review activity.
- Provide structured collaboration between adviser and paraplanner with predictable turnaround times.
- Maintain high compliance standards and client‑ready outputs without increasing fixed headcount.
Customer profile
The customer is a sole‑trader Independent Financial Adviser based in the North of England, directly authorised with external compliance support and assisted by a part‑time administrator. They have built strong, long‑standing client relationships from years spent at a larger national IFA before establishing their own practice. Concerned about meeting compliance requirements and rising operational demands, they are keen to avoid hiring a full‑time paraplanner. They also worry that a growing backlog could affect client sentiment and the quality of service.
Objective
- Establish a clear, consistent workflow to manage advice cases and review activity.
- Provide structured collaboration between adviser and paraplanner with predictable turnaround times.
- Maintain high compliance standards and client‑ready outputs without increasing fixed headcount.
As a small firm, holding the knowledge and thought process behind the CIP in the adviser’s head was workable but not ideal. Producing a documented CIP process stopped the sleepless nights that had been troubling the owners since the introduction of PROD. The firm now have a clearly defined collection of client segments and a matching investment process for each segment. The firm are able to operate more collaboratively internally and also look at their succession plans.— An example client feedback
This sounds like me. I would like to know a bit more about The Timebank before going ahead
We would our service to our clients, so we will give you a call and listen to your needs to make sure we can help you. In the meantime, we will start off by giving you complimentary access to The Timebank Foundations Programme.
Being a guest client gives you the following benefits:
- FAQs about the service
- Due Diligence on us as a company
- Access to our PRODMatcher tool, which solves the PROD problem
- Access to our Due Diligence reports on providers and manufacturers
- News, hints, tips and opinions sent directly to your inbox
- Access to ongoing CPD video series
Which of these sound familiar?
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