Compliance Services

  • Why AdviceWrite for compliance?

    Our team has vast and diverse experience in assisting Dealer Groups and advice businesses minimise their risk within the Australian Financial Services regulatory environment.

    We utilise our experience in financial planning support, advice and dealer group compliance management to understand your needs and develop a non-invasive solution to meet your compliance requirements. We pride ourselves on creating logical compliance solutions that actually enhance your business as oppose to impeding it.

    With our services you receive all the inherent benefits of outsourcing, such as reduced time, cost and stress.  You will also receive access to our fully customisable workflow management tool which enables you to monitor and if so desired, control our specific services.

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Our core services explained:

Below is a closer look at some of our core compliance services.
We have worked on a number of different projects so please contact us if you would like to discuss your specific need.

Compliance Support

Whether you are a sole trader, large corporate or an AFSL holder, we are able to customise a compliance support package tailored for your ad hoc and/or ongoing needs. Below are examples of such services you may wish to include in your Compliance Support Package.

Initial induction training

A one on one discussion to introduce advisers and support staff to your compliance framework, illustrating how they may seamlessly integrate this into their existing business processes.

Vetting Services

Compliance and quality vetting services for advice preparation.

Adviser reviews

Adviser review and audit services to help minimise compliance risk and meet AFSL Authorised Representatives supervision requirements.

AFSL Transition and review services

Assistance with researching existing AFSLs, establishing your own AFSL, creating advice processes and documents for your new AFSL and review your AFSL key documentation, control measures, compliance and operational risks.

Policy standards, compliance manuals, advice processes and advice templates

Utilising our vast experience we can ensure you have documentation, processes and advice templates in place that meet compliance requirements whilst maximising your business efficiency.

Compliance workshops

We can provide training via workshops, presentations or webinars on a particular area of the financial planning process.

Compliance support line

Our compliance team can provide phone and email support to assist with day to day questions on Legislative and your internal compliance arrangements.

Specific project assistance

We are available to undertake specific projects on on a consultancy basis.  These may include themed reviews, complaint analysis, bulk product comparisons, due diligence assessments, or other ad hoc project work.

Tailored workflow reporting

Our customisable online system can be tailored to your business needs.

Please contact us to organise a consultation to create your tailored solution.

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Adviser Review

We have developed a thorough understanding of the identification and classification of business risks and breaches through our extensive experience reviewing more than 1,000 advisers. We are able to communicate outcomes and remediation effectively to all stakeholders and assist in the escalation of serious and systemic incidents.  We can also assist with the preparation of ASIC breach notifications.

We appreciate that not all reviews are the same and as such we are happy to customise a solution tailored to your needs. The below example review types can either be on an identify/report basis or with remediation follow through and escalation assistance. They can be conducted face to face or remotely.

Example review types:

  • Pre-review assessment
  • Induction review
  • Themed review
  • Breach only review
  • Semiannual / annual review
  • Complaint review

We can take care of your review scheduling and provide access to our workflow management and collaboration tool so you can monitor progress. Our reports can be as thorough as you would like including the positive aspects of the adviser’s performance (from a compliance perspective) as well as the areas for improvement.

Please contact us to organise a consultation to create your tailored solution.

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AFSL Transition

ASFL Research Services

We have been approached by many businesses over the years who want to ensure their existing AFSL provider is appropriate for their needs. As such, we have developed and refined a research process to collate together a detailed comparison research report of several suitable AFSLs.

The process starts with a consultation where we discuss your business plan and AFSL preferred services, then through our depth of resource and market intelligence we will search AFSLs meeting your needs and compile together a detailed report of their background, representative numbers, services, fees and much much more.

AFSL Establishment

Setting up your own AFSL can be an extremely cumbersome process if it is unfamiliar to you. We are experienced with this set up and variance process and can guide you through this, thus protecting your productivity.

We can assist you to prepare an AFSL application kit, including any relevant supporting documentation required to be submitted to ASIC. We can lodge these documents with ASIC on your behalf and manage ongoing liaison with ASIC to ensure that your application is implemented as intended. We are also able to help with your overarching compliance plan, Membership to an External Dispute Resolution Scheme and referral to a broker for your Professional Indemnity Insurance needs.

AFSL Review

To ensure you continue to meet the general conduct obligations applicable to all licensees, we offer the service to review key documentation, control measures, policies, procedures, compliance and operational risk.

This is a thorough review and covers such areas as.

  • Licence conditions and obligations
  • Appointment & cessation of ARs
  • Training, monitoring and supervision of ARs
  • Compliance framework
  • Complaint handling and PI Insurance
  • Breach management
  • Conflicts of interest management
  • Risk identification and management
  • Product research and approved product lists
  • Financial adequacy requirements
  • Disaster recovery & Business Continuity Plans
  • Financial product advice procedures

Please contact us to organise a consultation to create your tailored solution.

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