Individual requirements
- - Responsible managers with appropriate competence and organisational capacity
- - Authorised representatives where services are provided under another licensee
- - Relevant provider registration on the Financial Advisers Register for personal advice to retail clients
- - Training, competence, fit and proper, conflicts, and supervision controls
People evidence to prepare
- - Role description matched to regulated activities and reporting lines.
- - CV, regulatory history, disciplinary disclosures, exams, and competence evidence.
- - Authority, time commitment, location, backup, and conflict notes.
- - Supervision map showing how the individual controls or escalates regulated work.
- - Public-register verification plan after approval or appointment.
Common bottlenecks
- - Requested authorisations are broader than the actual operating plan can support
- - Responsible manager evidence is thin or not matched to all authorisations
- - Retail client disclosure, dispute resolution, and advice controls are incomplete
- - The firm treats wholesale-only plans as low risk without documenting client classification and distribution controls