'Prevention is better than cure'. The cleanest and most effective way to address issues with quality of advice is to identify them prior to the advice being delivered to the client. Our advice vetting service provides a comprehensive review of the advice before it reaches the client. You will receive a report detailing the strengths and areas that require improvement, as well as providing an overall compliance score for the advice.
As an AFSL-holder, one of your mandated licence conditions is to ensure that you monitor, supervise and adequately train your advisers. One of the most effective methods to do this is to conduct regular audits of advice files and coach your advisers accordingly. We will take on this task, and put you in a position of power with the regulator. In addition, we can also provide tailored, one-on-one coaching sessions with your advisers to ensure any findings from the audit are efficiently implemented.
Complaints are a gift in disguise, as they provide you with the feedback that your AFSL needs. However, dealing with complaints can be a long and costly process unless you're in the right hands. With our expertise, we are here to deal with your client complaints in the most time-efficient and cost-effective manner, ensuring that you walk away with all of the lessons, and none of the pain.
Policies and procedural statements are the compliance 'blueprint' of an AFSL. They are required to set the advice business' standards and ensure that there is governance and guidance around your compliance measures. However, it is not sufficient to have a suite of policies that are gathering dust, and remain untouched since inception. It is imperative to ensure that they remain relevant and accurately reflect the operations of your business. We can create robust, comprehensive and tailor-made policies for your advice business, review them on a regular basis and ensure they are up-to-date with regulatory requirements.
Your AFSL is your most prized asset. It is therefore a necessity to ensure that your business is meeting its licence and regulatory obligations. The best way to do this is to conduct a 'health check' of your AFSL operations. We will sit down with you and go through a complete and comprehensive four-point check of your business, covering compliance records, financial records, resourcing and technology, and the advisers and advice process. By the end of the process, you will have a strong understanding of how your business is positioned from a compliance perspective, and what further you may need to do in order to make compliance your competitive edge
No matter how robust your compliance may be, unfortunately there are rainy days which may result in significant angst - both mental and monetary! The key to addressing incidents, breaches and remediation programs is to be adequately prepared, have measures in place to deal with such matters, and most of all, be well-informed. Primarily due to Apex's experience with the regulator, having our expertise and independent oversight by your side during these events will provide you with a level of comfort and confidence which will go a long way in removing that angst. We will assist with managing breaches, conducting remediation programs, and also communicating with the regulator to ensure that you can comfortably continue focusing on what you do best.