WHK re-affirms commitment to compliance
The WHK Group (WHK) has retained Inspector Compliance to provide compliance services.
The services will encompass the implementation of online applications that automate and record related activities for adviser compliance and training requirements.
WHK will also use Inspector Compliance to conduct audits for representatives and Australian Financial Services Licences that sit within the WHK Group.
“We conducted a thorough review of providers, but ultimately Inspector Compliance’s end-to-end compliance process was the telling factor for us,” WHK CEO Graeme Fowler said.
According to Fowler, Inspector Compliance’s ability to support WHK’s diverse geographical spread was also a key factor in its retention.
Inspector Compliance is said to offer a sophisticated online compliance management system that can be tailored to each licensee’s requirements.
The system allows licensees and their representatives to meet all their compliance obligations by integrating their legal requirements with the internal policies and procedures to ensure that all activities reflect the industry’s best practice.
Inspector Compliance is headed by James Xenidis, a former senior lawyer with the Australian Securities and Investments Commission (ASIC).
According to WHK, the association with Inspector Compliance is “one of mutual co-operation and benefit”, with benefits to potentially flow to the rest of the company’s “total financial solutions” business model.
Recommended for you
The top five licensees are demonstrating a “strong recovery” from losses in the first half of the year, and the gap is narrowing between their respective adviser numbers.
With many advisers preparing to retire or sell up, business advisory firm Business Health believes advisers need to take a proactive approach to informing their clients of succession plans.
Retirement commentators have flagged that almost a third of Australians over 50 are unprepared for the longevity of retirement and are falling behind APAC peers in their preparations and advice engagement.
As private markets continue to garner investor interest, Netwealth’s series of private market reports have revealed how much advisers and wealth managers are allocating, as well as a growing attraction to evergreen funds.
