Phil Billingham launches 'independence audit' for advisory firms

The 'Independence Audit' has been developed by the Phil Billingham Partnership (PBP) in response to confusion among advisers - some of it caused by providers and perpetuated by compliance consultants - about whether they meet the definition. Firms can select a full on-site audit at a cost of about £2,000 or a 'distance-based' service, conducted via email and over the phone, for about £500. PBP will send firms a 'traffic light' result - red, amber or green dependent on how well they meet their description of themselves - with a full breakdown of PBP's findings and practical suggestions...