HR for IFAs
If you run an IFA then you're likely to be knee deep in trying to understand and implement the changes being imposed by the RDR. One of the key requirements is that "..individual advisers to adhere to consistent professional standards, including a code of ethics." (*source)
This simple sentence has led to vast amounts of guidance, advice, comment and confusion. One thing is clear to me though, if your business is more than a 1 man band this requirement in can only lead to you needing to keep better (some!) employee records. Making sure you comply is essential but you also need to be able to prove it and this can only be done by good record keeping.
Many years ago when I was Compliance Officer for a large financial services company my US based boss drummed it into me that compliance is often about 'form over substance' - you must comply but that's useless unless you can prove it.
Take a look at breatheHR and how it helps financial advisers demonstrate compliance