An Update from Platinum Financial Planning Ltd

We wanted to inform you of a positive development at Platinum Financial Planning Ltd.

Until now, we have been an appointed representative of TenetConnect Ltd, which falls under the regulation of the Financial Conduct Authority (FCA).

TenetConnect Ltd has overseen the advice provided by Platinum Financial Planning as well as helping us manage our regulatory responsibilities. However, in September 2023, we received notification from TenetConnect Ltd that they were planning to exit the market at the end of March 2024. This prompted us to evaluate our options for managing our regulatory responsibilities going forward, leading us to consider joining another network as an appointed representative or pursuing direct authorisation with the FCA.

After careful consideration, we decided that the best route for us and our clients was to apply for direct authorisation with the FCA. We are delighted to share that our application for direct authorisation has been successful, and as of 4th April 2024, we are directly authorised with the FCA.

This decision aligns with our commitment to improving our services, streamlining processes, and continuing to maintain the highest standards of compliance and governance. It is a significant milestone for us, providing greater control over our regulatory obligations and enabling us to better meet your financial needs.

By becoming directly authorised with the FCA, we aim to:

• Strengthen our regulatory oversight: Direct authorisation empowers us with greater control and accountability in ensuring compliance with industry regulations and standards.
• Enhance service efficiency: This move enables us to streamline our operations, resulting in improved efficiency and a more seamless experience for you.
• Facilitate quicker decision-making: With direct authorisation, we can make prompt decisions that align with your financial goals and objectives.

This is a positive step for Platinum Financial Planning and demonstrates our commitment to providing excellent service and maintaining the highest ethical standards. We will continue to support you as we have done for many years and provide independent, whole of market advice to you as we have always done.

Our team is dedicated to ensuring transparency and there will be no change to the fees and services we provide to you. We expect there to be minimal disruption to our services during this time, however, if you have any questions regarding this change, please do not hesitate to contact us.

We appreciate your understanding and continued trust in Platinum Financial Planning. We look forward to continuing to support you as we embark on this exciting phase of growth and development.