The company says the support will help advisers meet the requirements of the FCA’s new Consumer Duty which begins at the end of this month.

The firm provides free online due diligence tools covering platforms, DFMs and multi-asset fund ranges.

The DD|hub system includes a library of due diligence questions, with responses from leading providers.

DD|hub launched in 2019 and in 2021 compliance support consultancy threesixty acquired a 50% stake in the business.

Former adviser Chris Jones, director of DD|hub, said: “The new DD|hub system provides advisers with the tools and information they need to meet the FCA’s due diligence expectations. There’s lots of good research systems out there, but no others carry the depth of due diligence data the FCA expect advisers to look at.

“TR14/5 said that due diligence is a second, detailed stage after research has narrowed the range of products to be considered. It requires a deep dive into the provider, asking the question, “is it appropriate to entrust this provider with client assets” (TR16/1). The foreseeable harms rule adds further weight to this, as advisers have to consider the risks a provider might pose to their clients.’

In the past 12 months DD|hub has processed over 25,000 due diligence questionnaires, representing over 4.5m questions and responses.

DD|hub says it believes the FCA’s Consumer Duty will make due diligence even more important.

The Duty will require firms to ensure fair treatment of clients at all stages of the customer journey.