Shipleys LLP

Chartered Accountants and Professional Business Advisers

Financial Services

Financial services businesses operate in a complex environment which has become very heavily regulated. Those who struggle to meet the regulatory requirements are increasingly likely to be subjected to unwanted media attention.

Some organisations need guidance on what needs to be done and how to do it. The number of funds under management in the UK has increased in the last ten years from around 200,000 to over 600,000 and some do not have in-house compliance expertise.

Smaller investors and family offices require structures which are tax friendly and meet all the regulations but which do not cost a fortune to run.

Larger fund managers are under increasing pressure to demonstrate efficient fund administration and pursuit of sensible cost saving opportunities. At the same time they need to attract and retain a team which can consistently deliver good results.

Our help and support

We offer a level of support meeting regulatory obligations which is designed to meet the needs of the organisation concerned. For some, we are 'hands-on', highlighting deadlines and helping to ensure they are met. For others, we offer additional help to overcome problems which may arise. Flexibility and experience are key.

Our role is not just about having the industry knowledge and experience to carry out efficient fund audits and tax compliance. We also advise on record keeping and tax efficient remuneration planning, help high net-worth family offices establish and run their own funds cost effectively, and provide assistance with statutory returns, capital adequacy tests and systems controls.

We have a team that specialises in looking after funds and Financial Services businesses such as authorised corporate directors, corporate directors, unit trust managers, fund managers, investment advisers and other intermediaries. We currently audit around 60 authorised investment funds with a combined net asset value of over £2.4bn. These funds specialise in areas including fixed income, equities and derivatives.