Professional Investment Services has today completed their Ongoing Monitoring Program (OMP) following ASIC’s recognition of the team’s significant improvement in the quality of advice, compliance and audit functions and a commitment to enhancing its financial advice risk management framework.
‘We are very pleased to announce the conclusion of Professional Investment Services’ Ongoing Monitoring Program with ASIC,’ says Centrepoint Managing Director John de Zwart.
‘This is another key milestone in the execution of the Group’s strategy and most importantly, increasing the quality of financial advice Australians receive.’
Professional Investment Services entered into the OMP of its financial advice risk management framework following the conclusion of its Enforceable Undertaking in 2013.
‘Over the past 12 months, we have made transformational strides in the business and we appreciate everyone’s support in this ongoing journey to build high quality business around high quality practices.
‘ASIC has acknowledged the changes we have made in our own business and now it’s our job to transform our industry and the way in which wealth advice and services are delivered to Australians,’ says de Zwart.
Following the conclusion of the OMP, neither Professional Investment Services, nor any entity within the Centrepoint Group, have any regulatory actions underway or any non-standard ongoing licence conditions.
Read ASIC release: Large advice licensee finalises monitoring program
