Before getting to work, we spent a lot of time with our client’s internal team to understand its business standards and agree SLAs and turnaround times. We adopted our client’s file checking methodology and procedures to ensure consistency with the internal team and become a seamless extension of its business assurance function. To test it and iron out any issues, we carried out a pilot exercise.
With the processes in place, cases were then referred to us on an ongoing basis. The number of files to be checked varied month by month, but our flexible resource model meant we could quickly expand and contract to suit our client’s business needs.
Best of all, outsourcing the overflow means the client gets a regular independent view on the business written. To date, we’ve helped to identify trends where customers have not been treated fairly and where certain advisors have deviated from the firm’s business standards. As a result of our insights and recommendations, our client made changes to its adviser training programme, avoiding future regulatory action.