Premium Wealth Management has launched a new compliance service for self-licensed advisers, giving boutique AFSL holders access to the firm’s senior in house compliance team.
“The self-licensed advisers [also] value being able to speak directly to a senior compliance manager. We provide assistance with day-to-day compliance questions, review advice documents, websites and marketing material and keep advisers abreast of regulatory updates and solutions,” said Premium Wealth operations and compliance manager Shannon Durrant.Premium’s in-house team will also give advice on legislative compliance. “They are looking for a practical guidance on how to implement compliance requirements under FOFA and also assist in balancing these requirements with the commercial aspects of running a financial planning business,” Ms Durrant stated.Premium believes there is a general need from advisers to manage compliance issues in a timely and effective manner.
“We are looking forward to accessing Premium’s new compliance service. We have five advisers in our firm who recognise the difficulty of doing compliance themselves. While compliance is an essential part of our business, expert assistance from Premium will allow us all to spend more time providing advice and services to our clients,” Trevor Thomas, managing director of self-licensed firm Ethinvest Pty Ltd said.Premium Wealth is an independently owned company that has 23 member firms and over $2 billion in funds under advice.
Advisers need to ensure they don’t get too caught up in regulatory changes and forget about their current obligations, ...
Andrew Bragg has called for close scrutiny of the regulatory architecture, partly inspired by the rocketing ASIC levy ...
The company, which was haemorrhaging close to $100 million before tax just three years ago, has successfully navigated ...
Never miss the stories that impact the industry.
Get the latest news! Subscribe to the ifa bulletin