How long does it take to become Directly Authorised?
Pre-application takes as long as it takes you to assemble the required info. The application process can take as long as 8 to 12 months though we have seen in happen in only 2 months for larger firms. The key is to start ASAP every day you leave it means it will take a day longer. So what are you waiting for!
Can we get authorised without our network finding out?
There are various techniques we can employ to ensure a seamless switch over. We endeavour to minimise any down-time and ensure you receive all outstanding remuneration from your network.
Isn’t it more expensive to become directly authorised?
No, this is a common myth. While a network may only bill you monthly you will find that within six to eight months you will probably have spent more than a direct authorisation including FCA fees.
What about compliance/support/training?
We can provide introductions to class-leading outsourced services for you for all these areas.
Will be able to access the same products?
Yes. In fact in some cases you will have access to more as there is no need for network approval.
We’ve been removed from a network can we get authorised?
It depends on the exact reasons. We have seen some networks do many spiteful and unnecessary things over the years. Please contact us to discuss in confidence.
Can we get DB Pension Transfer permissions?
Probably not. Mainly due to inability to get PI cover and FCA may deem as “lifeboating”. Please contact us to discuss.
What if we have an outstanding dispute with our network?
Whether monetary, legal, occupational you may need to wait until this is resolved or risk losing out. Though if this is the state of your current relationship we would advise you to switch ASAP.
Can we apply for permissions we have limited experience of?
We’d generally advise a gradual approach. Applying for “modification of permissions” to add new ones further down your roadmap.
Can we spread the cost of our FCA fees?
We work with a firm that can help you pay the fee in return for monthly payments including interest.