We often reference the mantra of client care in our interactions with you, but this concept is seldom unpacked as to what client care really means. In this edition of the Warwick Wealth Matters, I want to focus on one element of client care which is compliance. I admit, compliance is perhaps not the most interesting subject, but it is a vital element to client care and one we stress as a company.
Every professional who joins Warwick in a client-facing capacity is required to undergo an extensive induction and orientation programme that concludes with their signature of a Client Care Charter, that sets out in detail the levels of client care and service required of the employee.
With respect to professionalism and client care, every Warwick wealth specialist or financial planner is required to study for and pass their FSCA and FAIS mandated regulatory examinations. Failure to pass this examination within the designated period would result in Warwick removing the advisor from our FSP licence.
Each Warwick Wealth Specialist and Financial Planner is required to undertake continual professional development of at least 18 hours, which again is recorded by our internal compliance department. Failure to do so would result in the professional being removed from the Warwick licence.
Moreover, each and every Warwick professional is required to study for and pass annual rigorous examinations to ensure they remain knowledgeable regarding compliance with the Financial Intelligence Centre Act (FICA).
Warwick operates its own Compliance Committee, on which sit our Head of Compliance, company directors, as well as our external Compliance Officer. Our Warwick professionals are also required to undertake quarterly compliance training and updates run by our external compliance company Compli-Serve.
Compliserve themselves conduct monthly compliance working group meetings with directors and the compliance department, which includes reporting on regular visits to the Warwick branches and conducting file sample examinations.
The company has further recently invested in the appointment of a highly-experienced group Key Individual which has added an even deeper layer of compliance and good governance across the Warwick group.
So, as much as the topic of compliance is perhaps not the most enlivening subject, I am sure it is comforting to know just how much time and effort Warwick invests in this key area of client care.
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