The founder of the Group, John Derry-Collins began his financial services career in 1968 following a seven-year career in the Services. The advent of the Financial Services Act in 1986 (in force 1988) brought John the opportunity of bringing together both his experience as a military trainer and his knowledge of the industry.
The establishment of the Life Assurance Unit Trust Regulatory Organisation (LAUTRO) introduced the concept of Training & Competence for the first time, with a far more robust regime than FIMBRA. When the Personal Investment Authority (PIA) became the regulator for both product providers and brokers, the first company was founded, Independent Financial Adviser Compliance and Training (I-FACT) in response to market demands.
Experience is the Best Teacher
The demand for an effective regulatory consultancy grew and the consultants that work with I-FACT are drawn largely from a background as practicing IFAs, compliance officers, directors of both Mortgage and General Insurance firms and ex regulatory staff.
As regulation has grown so has I-FACT and its team. Each consultant has a minimum of 10 years experience and over the decade have acquired first hand knowledge and expertise not only with FIMBRA, but also with LAUTRO, PIA, SIB, IMRO, GISC, MCCB and now the FCA.