How can firms keep their ongoing advice services compliant?

TCC experts outline the forward-looking policy updates and historical data checks required to ensure wealth management firms remain compliant with FCA expectations.

What happened?

Following the FCA’s release of its findings into its recent ongoing advice review, TCC’s Chief Product and Commercial Officer Garry Evans catches up with our Technical Director David Boyhan – who specialises in wealth management to unpack all the detail.

In the final instalment of the five-part mini-series, Garry asks David how can firms keep their ongoing advice services compliant. Watch part five now to learn more or read the transcript below.

Watch the final instalment:

Frequently asked questions

What is the go-forward compliance piece for ongoing advice?

Firms must review current client agreements, fair value assessments, and disengagement processes to ensure policies are geared towards delivering real, documented client outcomes.

What must firms do regarding historical ongoing advice service failures?

Firms must audit files back to 2018, identify instances where reviews were missed or clients didn’t engage, and provide appropriate redress or formally disengage those clients.

Wealth Management & Financial AdviceTCC helps wealth managers, financial advisers, networks, platforms and consolidators strengthen compliance, evidence customer outcomes and manage regulatory risk. Every engagement is designed to deliver practical improvements, stronger governance and regulator-ready evidence. For more than 25 years, we have helped FCA-regulated firms navigate regulatory change, supervisory reviews and business growth.

Reviewed by TCC Group Editorial Team September 15, 2026

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