Lawyer and MDS team up for IFA compliance reviews

It was announced at the recent Association of Independently Owned Financial Professionals (AIOFP) national conference in Hobart that Mr Bobbin has been given the responsibility of providing AFSL reviews and will work with MDS to deliver the service.

“The selection of MDS to undertake the task of ensuring AIOFP members' AFSL requirements are in order was an easy choice as their industry reputation has been built on the successful processing of over 100 license applications for advisers and dealer groups,” Mr Bobbin said.

AIOFP executive director Peter Johnston said he was confident that AIOFP members will appreciate the benefits that will be delivered through the AFSL review offering.

In addition, Mr Johnston said “that any potential issues will be identified and remedied, resulting in a complete package for not only the licensee, but for any other interested parties such as ASIC or prospective buyers”.

Under the new arrangement, practice appraisals for the AIOFP’ s membership of more than 90 independently owned AFSLs will remain the responsibility of Frank Smith’s Adviser Compliance Services.