My Dealer Services expects surge in self-licensing interest in 2026
Alexander Euvrard
Self-licensing specialist My Dealer Services (MDS) expects even stronger growth in 2026 as more financial advisers look to take control of their businesses and come to understand the associative risk of working under large licensees following ASIC suing Interprac Financial Planning over the failure of two large funds.
Interprac is being sued for alleged failures around the now collapsed Shield and First Guardian investment funds where more than 6,500 superannuitants were advised to invest around $677 million.
MDS Managing Director Alex Euvrard said the fund collapses had shaken many advisers and made them realise the potentially costly associative and reputational dangers of being associated with licensees especially as many of the systems, processes and even APL selection is out of their control. This has been especially highlighted through platform providers refusing to take on new clients from advisers under Interprac.
“MDS has already received a number of approaches from advisers wanting more control over their own destiny. Advisers like self-licensing as a way to control their business and make their own choices about how they treat their clients and where they place their money without the scrutiny of a parent licensee and being dictated to by templates. The greatest thing about the advancement of technology and services is that smaller licensees can now access and plug in support services that deliver leading compliance, software, investment and practice management solutions, functions traditionally held with the larger licensees.” he added.
“MDS grew the number of self-licensees it services by 20 per cent to 120 in 2025 and despite up to 15 per cent of the industry forecast to potentially depart at the end of the year because of the introduction of two pathways to remain on the Financial Adviser Register, we are proud that we have already managed to shepherd all of our more than 400 adviser members through the rigours of the new requirements,” Euvrard said.
MDS Head of Strategy Ashley Mahadeea said the rapidly growing business had managed to continue to swell its membership base following a sold-out full day briefing event in Sydney and by hosting a series of roundtable lunches around the country that helped members feel the sense of community within MDS.
“MDS has also introduced 10 new and five enhanced supplier partnerships this year that give MDS members access as well as pricing benefits to best-in-class providers. These included platinum and gold partnerships with Morningstar, HUB24, Lonsec and intelliflo.
“We remain dedicated to empowering members with resources and partnerships that drive better client outcomes. Carefully selecting the right product and service providers to support MDS members is another step toward that commitment.
“In 2026 we will continue to provide hands on compliance solutions for our members, increase our advocacy work to explain the benefits of self-licensing and uplift our internal technology to create more efficiency for the business and our members,” Mahadeea added.
