Our RM half day workshop is a must for those applying for an AFSL
With the New Financial Year here, is it time to get your own AFSL?
If you are like many of the financial planning firms I spoke with last year, then this financial year may be the time you’re considering making the move to self-licensing.
It’s no secret advisers and licensees have been riding a tidal wave of change and uncertainty. FASEA, along with the Royal Commission, has certainly sent shock waves through the industry and the writing is on the wall when it comes to what will be acceptable from now on. And, while changes won’t happen overnight, the outcomes are clear enough - every financial planning firm will be impacted in some way, shape or form.
Just ask those that have recently been caught up in the crossfire of the Royal Commission and the impact it has had on their business - in some cases reducing their financial planning firm asset to zero.
Conversations I had last financial year with advice firms that were giving serious consideration to obtaining an AFSL, were broad and most advisers were after general information. In the first few months of this year, those conversations quickly accelerated to taking these firms on a deep dive into the key aspects of applying for an AFSL, ongoing responsibilities of being an RM along with supervision obligations associated with authorised representatives.
Most importantly, firms wanted to know who they could rely on for support once they obtained their AFSL. And who could assist with implementation and provide guidance on what they would need to demonstrate in the event ASIC should knock on their door.
With that in mind, my colleague Nicole Alexander, Professional Standards Consultant Manager at Centrepoint Alliance, and I have designed and created a half day RM training session for aspiring AFSL holders that have been thinking about making the move to self-licensing.
We collated all the queries and questions that advisers have asked over the years about what is required when setting up an AFSL and put together a framework for advisers that want to do a deep dive and make sure they are ready for this next bold move.
If you are an advice firm considering your own AFSL, make sure to register for one of our upcoming sessions in Sydney and Melbourne where we will share our knowledge and experience with you.
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