Our new T&C Scheme
Over recent weeks I have provided an introduction to the Network’s new T&C Scheme and today I am able to finally share the full scheme document with you.
Download the document from this link.
The scheme is 25 pages and there are additional documents that are included as appendices, which are used for various training activities.
If you already have competent adviser status with the network you should read the scheme overview section through to the mid-way point, but the main text to consider is sections 14 onwards.
Firm principals should read and understand the scheme for their own development purposes, but also to understand the requirements for any new advisers joining their business.
If your business is looking to take on ‘trainee’ staff – i.e. any adviser who has not held competent adviser status in the last 12 months – then you will need to appoint a supervisor. The network will only appoint supervisor if they are within a fully formed Appointed Representative business, so if you are looking to expand and you do not hold AR status then you need to talk to the agency team to get the process underway.
A firm supervisor will need to be assessed and obtain supervisor status before they can commence the supervision duties. Further details on this will follow next week.
Please note that section 23 refers to the network’s policy on fitness and propriety. This is not yet available but will be uploaded to the Adviser site in due course.
If you have any further questions on the T&C Scheme, please speak to your compliance manager.
MCD
Given the amount of information for the T&C Scheme I will resume updates on MCD next week.
And finally
I have had a number of people ask how last weekend’s marathon went. Well, I can tell you it was a freezing cold day, temperatures not getting above 2 or 3 degrees and approximately 90% of the course was off-road – so imagine muddy fields, sleety rain, farmers tracks, dodging cows and especially dodging those brown discs they leave behind! Despite all this I managed a time of 4h 14m and whilst this was slower than the 4 hour target I set myself, in the circumstances I was really pleased. I have to admit that at 20 miles I almost gave in, but I dug deep and managed to drag myself over the line. I’m still recovering almost a week later!
