Managing your Financial Advice Providers License - Are You Ready?

Managing your Financial Advice Providers License - Are You Ready?

As a FAP Licensee you are required to have adequate and effective governance and compliance frameworks and controls, as well as arrangements to challenge and test these.  

If the Regulator knocked on your door, are you able to demonstrate: 

  • Conduct and culture that ensures improved customer outcomes, understanding and transparency?   
  • All individuals engaged under your licence comply with their duties and the law? 
  • Your policies, processes, systems and controls are adequate and demonstrate compliance with your FAP duties and obligations? 
  • You monitor and supervise your Financial Advisers? and 
  • That your policies, processes, systems and controls are reviewed to ensure they are current, relevant and effective? 
  • If you are not sure you are ready and compliant, iaComply can assist. 
  • iaComply is a FAP Licensee compliance management system. iaComply provides you with a compliance framework, is web-based, housed in a central location, allowing for easy access and evidencing to Regulators and is simply to use. 

iaComply is suitable for sole Financial Adviser FAPs, as well as larger multi Adviser FAP operations across different locations, under different company divisions, offering various financial products and services. 

iaComply provides the ability for you to manage your FAP duties and obligation, including onboarding new Financial Advisers, fit and proper person checks, auditing, template BCP, Agreements, Compliance Manuals, Registers and management tools for Breaches, COIs, Continued Professional Development and more! 

If you would like to know more about iaComply, contact Insurance Advisernet today.   

General Advice Warning

The information provided is to be regarded as general advice. Whilst we may have collected risk information, your personal objectives, needs or financial situations were not taken into account when preparing this information. We recommend that you consider the suitability of this general advice, in respect of your objectives, financial situation and needs before acting on it. You should obtain and consider the relevant product disclosure statement before making any decision to purchase this financial product.

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