My 'main' work update

In recent months I have not blogged here that often about the specifics of my role as an independent, whole of market medical insurance adviser (looking after individual and company clients in the UK and around the world TM).

This is because to the uninitiated this can be dull as ditchwater (?) and also as part of Premier Choice Healthcare (my compliance provider) I cannot and do not intend to use this blog as a 'business' website. It is not authorised to be used as a sales or promotional vehicle for my medical insurance work nor have I ever really seen it that way. Importantly it is not FCA compliant to do so. The blog is a personal vehicle that sometimes mentions or highlights issues that are of personal interest or relevance and in doing so will sometimes cover work related issues.

One of the questions that I am often asked by clients and professional introducers (IFA's accountants and the like) is how is my business set up ? I think it can't hurt to run over that quickly here in the blog.

I set up my business at the end of 2010 and went to Premier Choice who I had dealt with for many years (when employed by PMI insurers) to provide my compliance route to the FCA. As a business I am a self employed sole trader and the HMRC return goes in as : 'Phil Knight, Independent Healthcare Consultant'.

From an FCA regulatory standpoint I am Phil Knight, Independent Healthcare Consultant, Part of Premier Choice Group etc. compliance and agency support is provided by them and client facing documentation such as the Needs Demands statement that go to clients come from Premier Choice and their office in Towcester referring back to me as the clients contact and advisor.

So I search for, find, work with and advise my own clients (or often those of my professional introducer contacts) and then use PCH's agencies to provide them cover. Advice is given by me and I regularly undergo Training and Compliance checks which could (and I suppose over the years may have been) submitted to the FCA and it's precursor the FSA to demonstrate that I am offering cogent and compliant advice to my clients.

The back office service and FCA compliance I receive from PCH for my clients is something I pay to them via deduction from commission received - I find the admin and support from PCH to be excellent and although I am the primary contact for all of my clients it is worth considering the hard work provided by the staff at Premier Choice.