IFA firms are authorised and regulated by the Financial Conduct Authority (FCA) https://www.fca.org.uk. This is the main body in the UK that regulates the financial services advice industry.
Before an IFA can be established, the FCA must review their business plans, risks, budgets, resources, systems, controls. Additionally, they must review whether key staff have the necessary qualifications, experience and ability to carry out their roles effectively.
Once authorised, the firm can expect regular controls and investigations by the FCA. This ensures that their records are complete and that the advice they give to clients is appropriate.
Beyond the regulation of the FCA, at Henson Crisp all our staff are members of the Chartered Insurance Institute (CII).  The CII is an FCA appointed accredited body which issues Statements of Professional Standing. These confirm that an adviser:
Has adhered to a code of ethical standards
Holds the required qualifications for the activities they undertake
Has completed appropriate CPD and complied with the SMCR (Senior Managers and Certification Regime)