Walker Crips, the wealth management group, has set up a company called EnOC Technologies (EnOC) to provide cloud-based regulatory software to the wealth management industry.

EnOC, which has a platform, aims to benefit wealth management firms that struggle to afford large IT systems. Walker Crips claims that it is going to slash the costs of - and remove operational barriers to - firms acquiring good technology. It will provide firms of all sizes with enterprise-grade systems through a Software-as-a-Service (SaaS) model on a per-user, per-month basis.

EnOC features a system that will support companies authorised by the British Financial Conduct Authority in their administration of the Senior Managers & Certification Regime (SM&CR). It promises to make their work simpler. The software keeps track of the 'SM&CR status' of individuals, their statements of responsibilities, terms of references and "documentation archive requirements."

Walker Crips will demonstrate EnOC at an SM&CR seminar on 11 October at Crowne Plaza, Blackfriars, London. Advisors and wealth managers are invited.