The updated model means each AR’s business standards team is based on the profile of the firm. Large or rapidly growing ARs will have a dedicated team and smaller firms will have a dedicated support units.
Stonebridge said the change will allow for a more tailored approach for individual member firms and will create greater access and support from the network’s field-based business standards managers.
The new partner compliance team will assist new firms and advisers in attaining competent status by providing more focused support and training in the early stages of trading as a member of the network.
At the same time a compliance development and compliance operations team will work together to provide coherent support at the different stages of a firm’s development.
The changes come as Stonebridge has carried out a series of internal promotions and created eight new permanent roles at its Basildon head office.
Rob Clifford, chief executive of Stonebridge, said: “As the network continues to grow, it is vitally important we support our exciting trajectory by continually enhancing our already excellent compliance operating model so it can continue to deliver the bespoke and tailored support each of our AR firms has come to expect.
“Stonebridge moved away some years ago from the ‘one size fits all’ supervision approach that some networks still seem to use, and this latest enhancement to our model further develops our concept of bespoke support, appropriate to the size and risk-weighting of each AR firm.
He added: “We have added considerably in terms of support staff, particularly the promotion of existing staff within the business standards’ team and the creation and recruitment of eight additional full-time roles in order to make sure our members have the coverage, access, and support they need to continue growing while ensuring their business quality is of the very highest standard.”
Rebecca Shuttle, principal and director of MIMA Mortgage and Protection Advice, said: “The Stonebridge compliance model was already positively received by us at MIMA Mortgage and Protection Advice, and these additions and extensions of that service means we’ll receive even more tailored support, based on what we need as a firm today but also with an eye on the future.”
