Reference checking and due-diligence

In October 2021, reference checking for all advisers and prospective advisers became a licence condition and subject to breach reporting requirements.
In fact, once compliance with ASIC Instrument (2021/429) became mandatory from 1 October 2021, there’s little scope for deviation from the prescribed processes.

Summary:

We can help

Effective adviser due-diligence requires discretion, relevant experience and “a very particular set of skills .. acquired over a very long career”.

Thankfully, we have the skills and resources to lift this burden from your shoulders.

POLICE AND CREDIT CHECKS

DIY CHECKING

If you’re comfortable with the requirements and just need a simple way to perform a police check, our association with National Crime Check means that we can offer you a simple and cost effective way to make these checks.

INDEPENDENT CHECKING

If you’d prefer to have the end-to-end process managed by independent experts, our Operations Team can, as your agent, be engaged to make all the required checks, validate and assess the responses and provide you with an opinion on which you can rely.

It’s an effective, and cost-effective, way to secure your business against employment and regulatory risks.

If you’d like to engage us, or simply discuss pricing options, reach out.

ENHANCED DUE-DILIGENCE

Reference checking should be a key component of your compliance arrangements; but it’s only likely to be partially effective in identifying ‘bad apples’ and other advice risks.

A more effective solution is to supplement reference checking with an objective, contextual and risk-based assessment of their advice and advice processes.

Our enhanced due-diligence offering combines independent reference checking with an independent assessment of 4-12 client files to properly identify the risks you’ll assume if you recruit or appoint the adviser.

If you need more information, or have further questions, about our process or the opinion we’ll provide to you, we’re happy to help.

Subscribe

Every fortnight “Three Hit Tuesday” delivers thought leadership, considered analysis and insights that will help you improve your advice, more effectively manage your regulatory risks and make you better informed than your peers.

AS-Subscribe Form

"*" indicates required fields

This field is for validation purposes and should be left unchanged.

We respect your privacy. We know everyone says that, but we promise that we won’t sell your contact details to dodgy telemarketers, spam your email or otherwise exploit your trust.

Step 1 of 8 - Your Role

This field is for validation purposes and should be left unchanged.

Assess your ASIC exposure

Answer a few targeted questions to identify where your compliance may not stand up under ASIC review.

Takes less than 2 minutes. No preparation required.

What best describes your role?