Guidance note cover

Guidance Note: Developing and maintaining a governance programme for small financial advice businesses

Strategi has developed a governance programme designed to assist the small advisory practice to develop a governance programme for the practice that meets director obligations, meets the FMA’s expectations and delivers an effective outcome for the business.

It is recognised that there is a significant difference between the formal board structures and processes recommended in governance handbooks and courses, and the actual reality of governance for a small business where the director is having a meeting with himself/herself and is expected to move from management to governance and provide ‘oversight on oneself’. The governance programme is directly aimed at a small financial advisory business which operates as a limited liability company and is in one of the following situations:

  • Has a single director who is also the principal financial adviser in the business. The business does not have a designated CEO and the managing director is effectively the CEO and the principal revenue generator.
  • A small limited liability company which provides financial advice services. It has two or more directors and these directors are the principal financial adviser and his/her spouse.

For financial advisory businesses who do not meet either of the scenarios above, then a more formal governance structure should be adopted and advice on this can be provided by Strategi Ltd.

Although designed specifically for a financial advisory business, this programme could be equally well applied to any small professional services business. The programme includes:

  • a recommended governance approach
  • a tailored board charter
  • board meeting agenda
  • advice on how to meet compliance obligations
  • a governance report template for meetings
  • guidance on identifying and managing key risks, and
  • recommendations for director training.

The complete programme includes a detailed guidance note and accompanying template which can be customised to any financial advisory business. Purchasing this programme can literally save a small company director thousands of dollars in course attendance, consultancy fees and lost client interaction time.

Guidance Note: Developing and maintaining a governance programme for small financial advice businesses
Single licence

Licenced for use within a single practice in a single office or location. Contact us for multiple-office licencing.