FINA2209 WEEK 3 TUTORIAL QUESTIONS (FINANCIAL PLANNING PROCESSES AND PROCEDURES)

3.1 You are a Compliance Manager for a licensee which has 15 authorised representatives. You have just been notified that a complaint has been made against one of the authorised representatives by a former client. The representative works from an office remote from head office and, on your last audit inspection visit nine months ago, you found that some of the representatives files were not in order. The basis of the former clients complaint is that they believe they were not advised that their adviser would be charging ongoing fees from their portfolio. You now plan to conduct an audit visit, without notice, at the representatives office.What will you be looking for at the representatives office in order that you can prepare an initial response to the complainant? Prepare a bullet-point checklist and explain why each item is required.