We are proud to announce that the Practicum Team have been awarded with the FAIS Compliance Seal! By displaying this seal, consumers can be certain that the accredited independent financial advisor (IFA) has been evaluated on the regulatory requirements set out by the Financial Sector Conduct Authority, and has achieved an excellent standard of compliance.

Accreditation is re-evaluated every year and use of the seal is only renewed if the FSP maintains its high standard of compliance.

Qualifying criteria used:

• Category I licences – all 3 Compliance audits must have been completed, a minimum score of 85% must have been achieved for each audit.
• Category II licences – all 10 visits must have been completed, a minimum score of 85% must have been achieved for each audit.
• Remedial actions attended to throughout the period.
• No irregularity report issued against the FSP.
• Where file sampling was conducted, complete compliance w.r.t. to the advice process:

Record of Advice – must be evident in every client file that was sampled from Aug 2023 – May 2024.

Needs analysis – must be evident in every client file that was sampled from Aug 2023 – May 2024.

Info gathering – must be evident in every client file that was sampled from Aug 2023 – May 2024.