9th October 2008

Wraps – free Due Diligence Toolkit for Advisers

Given the continuing FSA focus on the growth of wraps and the importance for advisers to complete Due Diligence, Rayner Spencer Mills have developed a Due Diligence Toolkit which is free to all advisers who register on their dedicated website at http://www.therightwrap.co.uk/

Registration is free and only requires brief details about the advisory firm so that the Toolkit can be emailed back.

As with any other business decision, there is widespread agreement that due diligence is necessary and important. Part of the process for IFAs must be to complete due diligence on potential wrap providers and this Toolkit will help provide a robust and structured approach for firms considering a wrap for their business.

Back in June 2007 the FSA produced a helpful Factsheet for IFA firms covering the areas that should be considered when deciding on the choice of a wrap. This is a great start, but our experience has been that IFAs still find it difficult to structure the necessary due diligence and record their decision making process. Our Toolkit will help with this.