Compliance retainer services for FCA-regulated firms
Senior compliance support every month, at a fixed price agreed before we start. You get advisory hours, scheduled reviews and a library of compliance templates, whether you are an FSMA firm, a payment institution or an e-money institution.
- 25+ years advising FCA-regulated firms
- FSMA and PSRs firms served on every tier
- APCC member
Why do firms choose a compliance retainer?
Because compliance obligations run all year, and ad hoc advice leaves gaps between the questions you think to ask.
In the firms we have reviewed, problems rarely start with one bad decision. They start when a regulatory change is noticed late, a monitoring review slips by a quarter, or an SMCR record falls out of date because nobody owned it. A retainer puts a senior consultant on a fixed calendar alongside your team, so those tasks happen on time and you have someone to call when a question cannot wait.
Ahead of change
We tell you what is changing, what it means for your permissions and what to do about it, before it becomes a problem.
Advice that builds
Your consultant knows your firm, so each piece of advice builds on the last instead of starting from scratch.
A fixed monthly cost
No surprise invoices. Extra time is only ever charged with your agreement first.
Which retainer tier do you need?
Three tiers, each at a fixed monthly price. Pay annually and save 10%.
Bronze
Compliance Essentials
For firms needing core regulatory support and a professional compliance foundation.
£595
a month plus VAT, billed quarterly
£535 a month plus VAT billed annually. You save £720 a year.
- 4 hours of advisory support a month
- Email and phone support, with a reply within 2 business days
- Monthly regulatory update briefing
- Access to our regulatory helpline
- Annual compliance health check questionnaire
Templates included (Lite versions)
- Compliance Risk Register (6 core categories)
- Regulatory Horizon Scanning Tracker
- Complaints Handling Checklist
- Annual Compliance Calendar
Silver
Compliance Professional
For established firms wanting proactive compliance management and professional-grade templates.
£1,195
a month plus VAT, billed quarterly
£1,075 a month plus VAT billed annually. You save £1,440 a year.
- 8 hours of advisory support a month
- Email, phone and video support, with a reply within 1 business day
- Monthly regulatory briefing and a 30-minute call
- Priority regulatory helpline access
- Quarterly compliance review meeting, documented
- Annual review of your compliance monitoring programme
- SMCR annual certification reminder service
Templates included (full versions)
- Compliance Risk Register with Heat Mapping
- Regulatory Horizon Scanning Tracker
- SMCR Responsibilities Mapping Playbook
- Complaints RCA and MI Reporting Template
- Compliance Monitoring Programme Builder
- Consumer Duty and Operational Resilience Toolkit
Gold
Compliance Partner
For firms wanting a dedicated compliance partner, every template and board-level support.
£2,395
a month plus VAT, billed quarterly
£2,155 a month plus VAT billed annually. You save £2,880 a year.
- 16 hours of advisory support a month
- A dedicated, named compliance consultant
- A reply within 4 working hours
- Monthly 60-minute strategy call
- Monthly compliance review meeting with MI
- Quarterly board compliance report, drafted for you
- Annual compliance monitoring programme, delivered
- Annual review of up to 5 policies
- Preparation for an FCA supervisory visit (2 hours a year)
- Annual compliance team training session (2 hours)
- 10% off project work, subject to our minimum day rate of £950
Templates included: everything in Silver, plus
- Fair Value Assessment Framework
- Conduct Rules Breach Investigation Toolkit
- Section 166 Preparation Toolkit
- SMCR Handover Documentation
- PEP and High-Risk Customer EDD Workbook
- AR Oversight Policy and Playbook
- Third-Party Oversight Toolkit
- FCA Query Response Pack
Also for Gold clients
- First access to new templates before public release
- Quarterly compliance pulse check calls
- Invitations to our client roundtables
- Direct mobile access to your consultant
All prices exclude VAT at 20%. Retainers are paid in advance, quarterly or annually. If you already hold a retainer with us, your current price stays in place until we write to you about any change.
Which templates come with each tier?
Every tier includes compliance templates. Silver and Gold include the full versions of products we also sell individually.
| Template | Retail price | Bronze | Silver | Gold |
|---|---|---|---|---|
| Compliance Risk Register with Heat Mapping | £199 | Lite | ✓ | ✓ |
| Regulatory Horizon Scanning Tracker | £149 | Lite | ✓ | ✓ |
| SMCR Responsibilities Mapping Playbook | £299 | – | ✓ | ✓ |
| Complaints RCA and MI Reporting Template | £149 | – | ✓ | ✓ |
| Compliance Monitoring Programme Builder | £199 | – | ✓ | ✓ |
| Consumer Duty and Operational Resilience Toolkit | £199 | – | ✓ | ✓ |
| Fair Value Assessment Framework | £299 | – | – | ✓ |
| Conduct Rules Breach Investigation Toolkit | £349 | – | – | ✓ |
| Section 166 Preparation Toolkit | £349 | – | – | ✓ |
| SMCR Handover Documentation | £199 | – | – | ✓ |
| PEP and High-Risk Customer EDD Workbook | £299 | – | – | ✓ |
| AR Oversight Policy and Playbook | £299 | – | – | ✓ |
| Third-Party Oversight Toolkit | £249 | – | – | ✓ |
| FCA Query Response Pack | £199 | – | – | ✓ |
| Retail value of the full versions included | Lite versions | £1,194 | £3,436 |
Payment services clients receive PSRs-specific versions of the relevant templates at no extra charge.
What would the same cover cost in-house?
Here is a worked example. Replace our assumptions with your own figures.
| Employing a compliance manager | Annual cost | Basis |
|---|---|---|
| Base salary | £60,000 | Our assumption |
| Employer's National Insurance | £8,250 | 15% of earnings above the £5,000 secondary threshold (HMRC) |
| Employer pension | £3,000 | Our assumption: 5% of salary |
| Recruitment | £4,000 | Our assumption: a 20% agency fee spread over 3 years |
| Training and CPD | £3,000 | Our assumption |
| Regulatory subscriptions and tools | £5,000 | Our assumption |
| Worked example total | £83,250 |
The example leaves out office space, equipment, management time and cover for holidays, sickness and notice periods. Smaller employers may be able to reduce their National Insurance bill through the Employment Allowance.
A retainer, billed annually
Gold costs 31% of the worked example, Silver 15.5% and Bronze 7.7%, with no National Insurance, pension or recruitment fees on top.
The two are not like for like. An employee is in your business every working day; a retainer gives you a fixed number of senior hours and scheduled deliverables each month. A retainer suits firms whose compliance workload does not justify a full-time hire, and firms with a capable in-house person who needs senior support and a second opinion. Many firms use both.
Which tier suits your firm?
It depends on your permissions and how complex your business is. This is where most firms in each sector start.
Investment firms and wealth managers
MiFID, Consumer Duty, suitability and SMCR obligations, managed proactively.
Usually Silver
Insurance intermediaries
IDD, product governance, fair value assessments and claims handling.
Usually Silver
Payment institutions and EMIs
PSRs 2017, EMRs 2011, safeguarding, strong customer authentication and operational resilience.
Usually Silver
Consumer credit firms
CONC, affordability assessments, complaints handling and customers in vulnerable circumstances.
Usually Bronze
Mortgage brokers and advisers
MCOB, Consumer Duty, file quality and SMCR.
Usually Bronze
Firms with complex footprints
Multiple permissions, appointed representative networks or group structures.
Usually Gold
How does a retainer work?
Engage, Execute, Embed: the same method we use on every engagement.
Engage
We start with a free discovery call and agree the tier that fits. At onboarding we review your permissions, policies, monitoring programme and regulatory calendar, and send you your templates.
Execute
Each month we deliver the scheduled items for your tier and answer your questions within your response time. We log the hours used, so you can see where the time went.
Embed
At each review we check that the changes we recommended are working in practice, then update your monitoring programme and records to match.
What do our retained clients say?
“Lee and his team offer a bespoke compliance service tailored specifically to your firm’s requirements. A speedy and helpful reply has been forthcoming from the team. Our firm has been delighted with the retainer service we have signed up for.”
Retained client, via Trustindex
“What stands out, especially, is the practical approach and the understanding of compliance within a commercial environment. Solid advice with real FCA experience behind it.”
FCA-authorised firm, via Google
“Lee was a pleasure to work with and was very knowledgeable about all aspects of compliance. The team was always on hand to provide assistance or advice on specialist areas.”
Former associate, via Google
Common questions
Is Compliance Consultant authorised by the FCA?
No. We are an independent consultancy that advises FCA-regulated firms. A retainer gives you advice and support; responsibility for regulatory compliance stays with your firm and its senior managers.
What happens if I need more than my monthly hours?
Extra hours cost £200 an hour plus VAT for retained clients, against our standard rate of £250 an hour. We will always tell you before you go over your allowance, so there are no surprises.
Can I move to a different tier?
Yes. An upgrade can take effect straight away. A downgrade takes effect at the end of your current billing period, and we need written notice equal to that period.
Do you support payment services firms as well as FSMA firms?
Yes. Every tier serves FSMA-authorised firms and payment services firms, including payment institutions, e-money institutions and registered account information service providers. Payment services clients receive PSRs-specific versions of the templates, covering the PSRs 2017, the EMRs 2011, safeguarding and strong customer authentication.
How do I pay?
All retainer fees are paid in advance, quarterly or annually. Annual billing saves 10% on every tier. We accept bank transfer and can work with your purchase order process.
What notice do I need to give to cancel?
Notice matches your billing cycle: one quarter for quarterly billing, or the end of your annual term. We do not give pro rata refunds, but we deliver everything due to you during the notice period.
I already have a retainer. Will my price change?
Not without notice. Your current price stays in place until we write to you about any change.
Can a retainer replace an employed compliance officer?
For some firms, yes; for others, it works best alongside one. If your compliance workload is steady but does not fill a full-time role, a retainer usually covers it. If you need someone on site every day, a retainer gives your in-house person senior support, templates and a second opinion.
Can I combine a retainer with project work?
Yes, and many clients do, for example for an FCA authorisation, a variation of permission, a compliance review or SMCR implementation. Gold clients receive 10% off project work, subject to our minimum day rate of £950.
Not sure which tier fits your firm?
Book a free 30-minute discovery call. We will look at your permissions and workload and tell you which tier, if any, makes sense.
Prefer to talk it through now? Speak to our support voice agent.
Making Compliance Work
Compliance Consultant | https://complianceconsultant.org | UK 0800 689 0190 | Int'l 020 8243 8620 | Discovery call: https://bit.ly/CCDiscovr
Compliance Consultant and Compliance Doctor are trading styles of UK Compliance Consultant Limited, Companies House number 14805896.
