Building a directly authorised investment manager that's ready for investors, regulators and operational due diligence.

The situation

Launching a regulated investment manager involves two separate challenges. The first is obtaining FCA authorisation. The second is building the governance, compliance and operational infrastructure that institutional investors expect to see during operational due diligence. Many first-time managers focus on the application itself. The more significant challenge often comes afterwards, when prospective investors begin asking detailed questions about governance, compliance, operational resilience, outsourcing arrangements, valuation oversight and regulatory reporting. The objective should therefore be to build a business that is ready for both regulatory authorisation and institutional due diligence from the outset.

What you are really buying

A complete launch project. We support the development of the regulatory, governance and operational framework needed to establish a directly authorised investment manager capable of satisfying both FCA expectations and institutional investor due diligence. The engagement combines FCA authorisation, governance design, compliance implementation and operational readiness into a single project, reducing the need for multiple advisers and ensuring the different components of the business develop consistently. The result is a regulated investment manager prepared not only for authorisation, but also for fundraising, operational due diligence and future growth.

What's included

The engagement includes:

• FCA authorisation application.

• Regulatory business plan.

• Financial projections and regulatory capital assessment.

• Governance framework.

• SMCR implementation.

• Compliance monitoring programme.

• Policies and procedures.

• Conflicts framework.

• Valuation governance framework.

• Outsourcing and third-party oversight.

• Operational due diligence documentation.

• Investor governance documentation.

• Compliance calendar and regulatory reporting framework.

• Support throughout the FCA determination process.

• Assistance during initial investor due diligence.

How it works

1. 1

   Scope and design

   We review the proposed investment strategy, target investors, operating model and regulatory permissions before agreeing the governance and compliance framework appropriate for the business.

   You keep: A clear implementation plan covering authorisation, governance and operational readiness.

2. 2

   Build

   We prepare the FCA application together with the governance framework, business plan, policies, procedures, compliance arrangements and supporting documentation required to operate as a regulated investment manager. Every document is prepared specifically for the firm's strategy, structure and operating model.

   You keep: A complete regulatory and governance framework ready for authorisation.

3. 3

   FCA authorisation

   We manage the application through to determination, including correspondence with the FCA, responses to case officer questions and support throughout the assessment process. Where required, we also help prepare management for regulatory meetings and follow-up discussions.

   You keep: Experienced support through the authorisation process.

4. 4

   Operational readiness

   Following authorisation, we continue supporting implementation of the governance framework, compliance function and board arrangements while assisting with operational due diligence and investor governance requirements during fundraising. Fractional SMF16, SMF17 and retained compliance support can also be provided where appropriate.

   You keep: A regulated investment manager ready for institutional investors as well as ongoing FCA supervision.

The guarantee

Proof

This work is led by a Senior Operator with experience supporting investment managers through authorisation, governance design and regulatory implementation. The same approach has been applied across asset managers responsible for more than US$850 billion in assets under management, as well as emerging managers establishing their first regulated businesses.