BS 8577 - Information 2013
0 likes•239 views
BS 8577 is a British Standard that sets out a framework for best practices in operational management for financial advice and planning firms. It specifies processes for embedding effective operational systems to ensure high quality client services. Certification requires an independent assessment of a firm's adherence to the standard's requirements for areas like business continuity, information security, training, and continual improvement. Certification can provide benefits like recognition from consumer groups, demonstrating robust management policies, and assurance of operating according to regulatory standards.
BS 8577 - Information 2013
- 1. Increase the efficiency of your operational processes with BS 8577 BS 8577:2012 Framework for the provision of financial advice and planning services is the only British Standard for financial advice and planning firms Led by Standards International and the British Standards Institute (BSI), this long-awaited professional benchmark sets out a framework for the operational management of a regulatory firm. BS 8577 specifies established best practice and processes for embedding an effective operational management system, both standalone and to support adherence to ISO 22222 Personal financial planning – requirements for personal financial planners. BS 8577 is aimed at increasing client confidence by providing a consistently high standard of service. The standard covers the entire operational framework of the company, including the business-critical elements of business continuity, information security, client confidentiality, continual improvement, recruitment and training and development, all of which help financial planning professionals to operate in a true best practice manner. Benefits to your firm • Recognition from the consumer group Which? • Recognition that your management policies and procedures are robust and embedded throughout the company and promote and demonstrate a client-centred culture • Independent and impartial assessments that identify opportunities to improve the efficiency, effectiveness and professionalism of the organisation • The ability to demonstrate conformity through independent third party certification, providing assurance that your organisation operates a robust operational management ‘best practice’ framework • A stronger position in respect of the requirements of regulatory bodies, as the Financial Services Authority (FSA) may take into account compliance with the standard during its themed visits • Improved sales and marketing opportunities • Improved communication Benefits to your client • Assurance of a client-centred culture • Assurance of quality of service • A more professional and consistent service • Value added to the services provided by the financial planner and the organisation • Evidence of commitment to continual improvement and compliance through independent third party certification • Enhancement of business relationships, building trust and securing repeat business • Reassurance that regulatory requirements are being adhered to and monitored on an ongoing basis • Access to evidence of qualifications, experience and competency Standards International Limited 5 The Granary Fairclough Hall Farm Weston Hertfordshire SG4 7DP T: 01462 790894 W: www.standardsinternational.co.uk L: http://uk.linkedin.com/in/standardsexpert T: http://twitter.com/SIISO22222 YouTube: TheStandardsExpert Certification is simpler than you think – the team at Standards International can take you through the whole process “This is a real hands on assessment; not a test of technical knowledge, but an assessment of what is actually being delivered to the people that count the most: the clients.” Keith Churchouse, Chapters Financial
- 2. The BS 8577 certification process Once we have understood your requirements and objectives we will create a personalised certification scheme proposal to suit the needs of your organisation, which will include: • Training, gap analysis and document review (optional) • Assessment conducted by our independent assessors • Process improvement report confirming adherence to the framework BS 8577 certification – the cost Each organisation is unique; therefore so is each certification scheme programme. Prices start from: • Off-site training: £197 • On-site training: £1,327.50 • Initial certification: £1,575.50 • Annual quality review audit: £1,575.50 By understanding, implementing and adhering to BS 8577, your firm will be able to demonstrate a continued and high-level commitment to the British and international best practice standard of excellence. About Standards International Standards International is the leading and only dedicated financial services certification body in the UK. We specialise in the promotion, training, pre-assessment, assessment and certification for BS 8577 and ISO 22222:2005 Personal financial planning – requirements for personal financial planners. As the provider of choice for BS 8577 and ISO 22222 certification, we are leading the way in pioneering and establishing national and international best practice standards in financial services. We are passionate about raising the quality and level of professionalism within financial services. We aim to support financial planners and their firms in delivering continuous service excellence to their clients and, as a result, develop a sustainable business and future for all. Standards International provides a unique offering. We have unrivalled knowledge of and expertise in best practice standards of operation, gained from years of experience in helping financial planners and firms to operate more efficiently. Standards International has been accredited to ISO/IEC 17024 by the United Kingdom Accreditation Service (UKAS) since 2008. To join the best firms in the business, email us at [email protected] or call us on 01462 790894. We look forward to having the opportunity to work with you! Standards International Limited 5 The Granary Fairclough Hall Farm Weston Hertfordshire SG4 7DP T: 01462 790894 W: www.standardsinternational.co.uk L: http://uk.linkedin.com/in/standardsexpert T: http://twitter.com/SIISO22222 YouTube: TheStandardsExpert “It can only have a positive impact on everyone within our firm.” James Saulsbury Affinity Independent