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
AMP has cut its executive remuneration following shareholder pushback which sees chief executive Alexis George’s maximum-possible remuneration reduced by almost $1 million.
CoreData research has highlighted Australian financial advice practices are expanding beyond traditional financial advice and reinforcing the power of a professional network to build their service offering.
ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm.
South Australian financial advice firm Calder Wealth Management has announced a strategic partnership with a risk advice firm.
