Insights

Commentators have discussed whether licensees are providing enough value and support to their advisers for the high price tag, prompting some to consider the self-licensing route.

Two advice professionals examine the cost-effectiveness of running your own licensee and whether the expenses are worth the benefits it provides.

This brochure covers some of the key questions to consider when deciding if self-licensing is right for your business including; understanding your obligations, what is involved, and the transitional and ongoing considerations to be aware of.

While changes were made to the breach reporting regime in 2021, the release of ASIC Corporations and Credit (Amendment) Instrument 2023/​589 made modifications to reporting requirements and reporting timeframes from 20 October 2023. Our very own Donna Penny, State Manager – Corporate Governance joins BT’s Sarah Conte to discuss the impact of these changes on financial advisers and licensees.

As financial advisers, to provide personal advice to our clients we are required to capture their personal information. With recent data breaches top of mind for many Australians, keeping this data confidential is not only necessary, it’s the law.

As the advice landscape continues to shift and evolve, there’s been a noticeable trend among profitable practices to seek control of how they run their business by becoming responsible for their own licence, creating a burgeoning group of “micro-AFSLs”.

Costas says the core proposition for the service offering is bringing peer-to-peer connectivity for sharing and learning between like-minded practices.

Our very own Brian Pollock, Director of Corporate Governance recently joined Sarah Conte, Senior Manager, Technical and Regulatory, in the BT Technical Team on the BT TECHknow Podcast to talk about breach reporting.

Our very own Brian Pollock, Director of Corporate Governance recently joined Sarah Conte, Senior Manager, Technical and Regulatory, on the BT TECHknow Podcast to talk about ongoing fee arrangements, now that the transition period is over.

Many new AFSL’s and even existing AFSL’s query how much PI they need. The simple answer is to refer to RG126 – Compensation and insurance arrangements for AFS licensees