Financial Services

Kingston Smith’s dedicated Financial Services accounting group provides an integrated, full service capability to firms across the whole of the financial services industry. Our specialist financial services accounting group act for clients of all sizes, from start-ups to substantial private and public companies, providing business advice and audit, accountancy, tax, risk management, IT and regulatory compliance services.

We have a deep understanding of accounting for financial services, pitfalls and issues businesses in the financial services industry face, which means we can give practical, realistic advice and share areas of best practice to help you succeed.

At the current time we are seeing certain trends in the sector which firms should be paying close attention to. The FSA are very focussed at present on the issue of Client Money and Custody Assets and are devoting substantial resource in this area. Other topical areas are the protection of data from theft which encompasses information security and the Data Protection Act, where the Information Commissioner is flexing his fining powers. There is also concern, particularly in the London area, about the impact that the Olympics will have on the ability of businesses to continue to operate effectively given expected disruption to travel and additional levels of security.

The financial services accounting group act as advisers to the following firm types:

• Insurance intermediaries
• Investment management firms, stockbrokers and funds
• IFAs, wraps and networks
• Mortgage intermediaries

The financial services sector is becoming an increasingly complex and heavily regulated area. With the current changes taking place it is vital that you are aware of new rules and regulations and how they affect your business. With our business protection consultancy, Kingston Smith Consulting LLP, we offer practical, commercial advice taking into account the legislative and statutory position as well as the operational and practical issues. Our specialist advisers help clients manage the increasing legislative and supervisory requirements that they are facing with a range of integrated governance and risk management, internal audit, and regulatory and compliance services. We can ensure a sound and robust compliance framework is in place across your organisation.

How we can help financial services clients:

• Accounting for financial services
• Financial Services Audit and business advice
• Tax planning, compliance and advice
• FSA approval, regulatory reporting and ongoing compliance
• Corporate governance and risk management
• Business continuity
• Technology and IT services
• HR and employment law issues
• Management accounting
• Private client services
• Corporate finance including raising finance, mergers, acquisitions, floatation and exit strategies