TAP managing director Ryan Edwards says members who are subscribed have found the reporting “invaluable”

With TAP’s focus on providing systems and services, it enables advisers to efficiently document record-keeping and business oversight, giving them visibility and transparency.

“It provides them with a view of all the work they've put in as well as the areas of improvement for them. It gives adviser members the confidence and peace of mind that their business is compliant with FMA requirements.” says Edwards.

Advisers who have gone through the process of getting a license, they need to demonstrate that they’re following the policies and processes they’ve put in place. With TAP’s compliance reporting engine, the focus is now on running their businesses that complies with FAP’s regulations.

Advisers taking advantage of TAP's compliance subscription receive auditing support and quarterly reporting. This provides the foundation for their internal governance and oversight of their business.

In turn, it forms the necessary data for the annual FAP return that license holders will lodge with the FMA - which is a process that TAP assists their members with.

We’re constantly looking for ways to add value to our members to make their lives easier. This service is a great example of the peace of mind we’re providing our adviser members.” says Edwards.