Case Study: an independent financial planning firm achieves cost-effective UCIS remediation with TCC Group

Independent Financial Planning Firm reduces UCIS review costs with TCC Group after FCA found over 10% potentially unsuitable cases

The customer, an independent financial planning firm, faced a significant challenge after an FCA review uncovered problems with its past sales of UCIS products. Without specific UCIS expertise internally, the firm engaged TCC Group to determine the scale of the issue and handle the required remediation.

TCC Group implemented a bespoke solution that confirmed the FCA's findings and managed the remediation process. To minimize costs, TCC upskilled the client's own team to handle future cases in-house while providing quality assurance, training, and access to its workflow management system. This approach allowed the independent financial planning firm to quickly address the unsuitable past business, avoid future regulatory action, and establish a cost-effective, ongoing process for UCIS case reviews.

Independent Financial Planning Firm