REgulatory Umbrella Services for Appointed Representatives

Regulatory Incubation or Hosting Service

We enable unregulated companies and individuals to begin and operate their regulated business quickly and efficiently using our FCA licence.

Our clients become an Appointed Representative of Frank Investments and retain their own distinct brand, ownership and business strategy but with the added benefit of tapping into our FCA licence, compliance knowledge, systems and procedures. 

We take care of the extra administrative headaches such as regulatory filings, capital adequacy and maintenance of systems and controls whilst our clients are left to grow and focus on their regulated business under our regulatory wing. 

Whether you are looking for a short term regulatory incubation service whilst waiting for your own FCA licence to be approved or you are seeking long-term regulatory hosting cover we are able to provide you with the cover and support you need. 

Also, through our partnership with the leading international investment management platform, we can offer a one stop solution for discretionary wealth managers who require custody, trading and settlement functions. Our partnership also includes prime in-house research, discretionary mandates and investment advisory.

Compliance and regulatory solutions offered

  • Regulatory umbrella hosting

  • Applications to FCA for all Approved Persons

  • Regulatory marketing umbrella

  • Review of marketing materials and Financial Approval sign off

  • Supervision and oversight by compliance specialists

  • Access to Wealth Manager/Advisor platform and Custody services

  • Compliance training

  • Full FCA application package (either full support or a review or sense check service)

  • Variations of Permissions

  • Ongoing compliance monitoring or administrative support

Outsourced Business support

As a previous Appointed Representative of an umbrella organisation we understand the challenges of starting up your business from a regulatory, financial and administrative perspective. We can offer a tailored package to suit all your business needs which you can access if and when you require. Through our own in-house team and external partners, we can provide the following solutions:

  • Legal support and advice on all areas of your business

  • Accounting

  • Business consultancy and advice

  • Administrative and secretarial support

  • Website development and marketing

  • Business Continuity and secure IT storage solutions

  • Introductions to other service providers through our network of contacts

Why Frank Investments?

Navigating the regulatory landscape can be both daunting and time-consuming. We can remove this worry for you so that you can concentrate on growing your business. We will offer practical and clear explanations to help compliance become less scary. 

We are not seeking to become the largest regulatory umbrella and so we believe we can offer a friendly, bespoke and relevant regulatory and business support system to our Appointed Representatives. Coupled with our own experiences of being an Appointed Representative and our knowledgeable compliance team, we believe we are in a unique position to understand the challenges of starting up your business. We can offer a full and tailored package to suit all your business needs.

Mentoring to the start-up firm

The team at Frank Investments has expert and in-depth knowledge of start-ups. By becoming an Appointed Representative of ours you are able to access this resource on an informal basis to discuss any questions, worries or ideas about your business and its future growth that you might have aside from the regulatory framework.

Types of Clients

The types of clients we are able to provide umbrella solutions will probably fit into one of the below. But if you are not sure or just need some advice please do not hesitate to contact us and we can help you find the right direction.

  • Alternative Investment Funds Managers (AIFM Sub-Threshold)

  • Private Equity Firms

  • Corporate Finance Advisory Firms including placing without a firm commitment for capital raising

  • Investment Advisers, Investment Advisory Firms

  • Discretionary Wealth Managers

  • Investment Advisers to Offshore Managers

  • Fund Distributors, Marketers and Introducers

AIFM Sub-Threshold Fund Management

Frank Investments can provide full regulatory umbrella services to a firm that is seeking to raise a fund. Specifically, we provide Authorised Representative (AR) status for Alternative Investment Funds (AIFs) sub-threshold fund mangers. We work with clients to help organise the setup and administration of a fund. Clients then structure each deal and advise us on which investment to make, acting as the Investment Adviser to the fund.

What happens if you want to become an Appointed Representative?

We follow a clear and defined process with all our clients to ensure that on-boarding and set-up is as seamless and as quick as possible

  1. Fact-finding meeting: We will meet you with to run through your business, the people involved, the regulatory permissions required and how you see your business evolving. This ensures that we provide the correct fee structure and service package that you require.

  2. Onboarding: The FCA requires that we conduct in-depth due diligence on our Appointed Representatives. This is at Firm, ownership and employee level. This will include credit checks, criminal record checks, regulatory references, CV checks and qualification checks. We will at this point assign training to individuals and in some cases recommend exams. This is to meet the standards that the FCA require us to do to ensure that you are ‘Fit and Proper’. We will ask you to provide a business plan, financials and marketing materials so that we can assess the compliance framework you require.

  3. Set-up and Procedures: We will provide you with all compliance procedures and manuals. We will set up certain logs such as client contacts, client classification and financial promotions.

  4. Ongoing monitoring and support: On an ongoing basis we will provide compliance oversight and support. This will include office visits, monitoring and file and trade checks to ensure that you are remaining compliant. We are also there to answer compliance questions you may have and offer any support required.

How much does it cost?

We charge a set-up fee which will depend upon the complexity of your firm and the number of people involved. This will include the due diligence we are required to do and the applications to the FCA for the firm and individuals. We will then charge an ongoing monthly flat fee for use of our regulatory license and our compliance services which will include mandatory training.

What other costs should you budget for?

Whether you use us or another provider the other costs usually associated with becoming an Appointed Representative will include professional indemnity cover (we can help you arrange this), regulatory exams if deemed appropriate, legal fees with regard to the actual set-up and structure of your firm and your product. 

We are totally transparent in our fee structure and will tell you at the outset all costs involved. There will not be hidden extras or nasty surprises.

How long does it take?

Typically, the onboarding can take 1-3 weeks. Once this is complete a submission will be made to the FCA to notify that the client firm is an Appointed Representative of the Frank Investments and this can take approx. 1 week. Once the Firm is on the register the application can be made for individuals to become Approved Persons and once approved then regulated activities can begin. Approved Person applications usually take between 1-4 weeks depending on the history of the applicant. We must stress that once submissions have been made to the FCA the timings and outcome are out of our control, but we will provide continued updates so you know where you stand.

We aim to have you up and running as quickly as possible and we will not put an Appointed Representative on the FCA register until the individual due diligence has been completed which will save you incurring monthly fees before you are able to conduct regulated activities.

Please contact Amy Grovit to discuss your Regulation requirements