Compliance
Solutions
Empowering advice businesses to get it right.
Interpreting the AFS licensing requirements for your practice can be challenging. Our knowledge and experience ensure you receive the best possible compliance solution for your practice.
AFSL Compliance works with you to create compliance solutions that are:
Tailored to you
We structure your AFSL licensing requirements to your practice. No unnecessary work will be done, and the solutions will be practical for you to implement.
Assessed for any risks
We take the time to get to know your practice, which allows us to identify and mitigate risks early on.
Up-to-date
We maintain your compliance over time as your practice develops and as change occurs.
Because of this, we’ve become the leading provider of compliance services to self-licensed practices.
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Licensee compliance manual & RM training
The policies, registers and checklists that make up the licensee compliance manual are then tailored for each practice. This approach delivers better compliance outcomes and reduces compliance costs.
Our policies are easy to read and understand. They are practical and set out what your particular practice should do, rather than repeating the law or ASIC guidance
Our team has the knowledge and experience of working with hundreds self-licensed practices; we’ll guide you to the solutions you need.
Our team will also provide one-on-one training so your practice understands your licensee obligations and how to best meet them.
Annual Licensee
Review
Your annual check-up helps ensure your compliance arrangements are working effectively and you have the right documentation on file. We’ll also help you look for ways to reduce your compliance costs.
The review includes a full update of the licensee compliance manual. We’ll pick up regulatory change, ASIC guidance and compliance improvements. We will also pick up the changes in your practice, so you won’t need to maintain the licensee compliance manual.
Compliance
Updates
More than just a newsletter, your updates explain the practical impact of change and how you need to respond.
Our updates also include Quarterly Regulatory Summaries, which recap the regulatory change for each quarter. A valuable input for your quarterly compliance meetings, it will also provide documentation to help show ASIC you are on top of your licensee obligations.
Dealer groups place restrictions on how practices can operate under their licence. They see this being necessary to manage their compliance risk (think the lowest common denominator approach) or to keep down their costs.
Solutions are provided and decisions are made with the interests of the dealer group in mind. These can often conflict with the interests of the practice and their clients. Common issues include:
- Additional and unnecessary steps in the advice process which are causing additional costs
- Poor quality advice documents which are overly long and unlikely to be read
- Mandating software providers meaning better solutions can not be used
- Restricting the advice or services that can provided to clients
Advice processes
& documents
This provides significant opportunity for practices moving to their own license to reduce their compliance risk, reduce their cost of providing advice and improve their client outcomes. This is the most common reason for practices looking to become self-licensed.
We work with practices to achieve these outcomes. We don’t accept the status quo and will challenge how things are done to develop better outcomes for practices and their clients.
Compliance support
as you need it
We are always available to answer questions, provide guidance and find solutions.
You can call us directly or send us an email (link goes here). Most enquiries are answered quickly, and we have access to internal specialists when we don’t know the answer.
We’re always happy to provide additional support, such as sitting in on your quarterly compliance meetings, or compliance updates for your team. We enjoy getting our hands dirty if you need help managing complaints or breaches.