Most compliance relationships don’t fail dramatically; they just shuffle into the grey area of ‘meh.’ Once-yearly check-ins and box-ticking exercises are more likely to feel like background unease, rather than obvious issues. And for some advisers that’s fine.  

But fine - or ’meh’- compliance still presents a challenge: causing friction and holding firms back from growth and productivity.  

So, what is 'meh' compliance, how do you spot it, and what do you do about it?

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What is ‘meh’ compliance?

It’s compliance that’s inadequate. And let’s be clear: inadequate compliance isn’t non-compliance.  

It’s compliance that technically meets minimum requirements. But it’s usually reactive rather than proactive; relies on manual workarounds; can feel opaque or intimidating; and sits alongside the business instead of inside it.

That’s why firms tolerate it, but also why it quietly holds them back.  ‍

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How is inadequate compliance holding firms back?

Inadequate compliance isn’t just a feeling, it’s a business issue that holds advice firms back from growth, clarity and productivity.

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Amongst many others we’ve encountered, problems created by ‘meh’ compliance include:

• Slowing capacity without firms realising: requiring manual checks, adding friction to advice approval and often creating a need for last-minute fixes.

• Discouraging change and innovation: firms will avoid launching new services, hiring new advisers or expanding into new advice areas in case it’s a compliance nightmare. A classic case of ‘compliance says no.’

• Fogging visibility of obligations: deadlines live in spreadsheets, knowledge is stuck with individual people, and leaders can’t easily answer simple questions like, “What are our risk hotspots?”

• Draining advisers’ time: time is redirected from higher-value work onto chasing answers, reworking files and interpreting unclear requirements.

• The emotional toll: compliance that seems ‘fine’ on the surface can quietly cause background anxiety, audit dread and a general fear of “getting it wrong.”

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How do you know if your ‘meh’ compliance provider is holding you back? Possible signs your compliance provider isn’t quite pulling their weight include:

• Compliance updates that are reactive, not proactive

• Advice feels slowed down by processes and approvals

• Everything lives in spreadsheets or static documents. A version control nightmare!

• Audits create panic, not confidence

• Guidance is generic or FCA-handbook heavy

• Compliance feels intimidating, not supportive

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If it’s so bad, why is inadequate compliance so common?

Underperforming compliance is often accepted as the norm, and there are 3 main reasons why:

1. Compliance is traditionally viewed as something to tolerate. It’s never been anything but fine, so why change it?

2. Fear of regulatory disruption. “If we change the way we do compliance, what will the FCA think or do in response?”

3. Assumption that switching equals downtime or additional risk of confusion, duplicate work and lost productivity.  

But there is an alternative that addresses these concerns. Welcome to the dawn of positive compliance!

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What does good compliance actually look like?

There is an alternative to ‘meh’ compliance. Effective compliance support makes risk visible and manageable; speeds up decision-making; frees advisers to advise and supports growth rather than restraining it.  

As regulation becomes more demanding and advice firms more complex, compliance must do more than just tick boxes. The goal is clarity, visibility and confidence, definitely not something you only worry about when the audit comes knocking.  

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Not sure whether your compliance support is helping or hindering your advice firm?

Meh compliance rarely causes an immediate problem, but the background friction could be at work, slowing down decisions, consuming time and limiting confidence firm-wide.  

Reassessing compliance support is not about starting from scratch; it’s more about understanding whether your current setup still fits the way your business operates today.  

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Download our Adviser’s guide to switching compliance services for a practical and low-risk way to assess your current setup, understand what good compliance looks like and explore how switching can work without disruption.  

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