Standing out from the crowd

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Depending on your data source, there are around 15,000 financial advisers in Australia and around 3,400 holders of an Australian Financial Services Licence (AFSL) which can provide personal advice. Around 85% of all advisers are associated with product manufacturers and it probably wouldn’t take a forensic examination of the numbers to conclude that the majority

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Actuate Alliance Services rebrands to SFG Alliance Services

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With a vision of becoming the leading service provider for non-aligned Australian Financial Services Licensee (AFSL) partners in Australia, Actuate Alliance Services has rebranded to SFG Alliance Services. Dan Powell, Head of SFG Alliance Services, said the rebrand is in line with SFG Australia Limited’s aim to consolidate its brands in the financial services market

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Advice stalwart cautions accountants ahead of new regime

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Accountants will need to earn a minimum of $300,000 per annum in order to successfully run their own Australian Financial Service licence once the accountants’ exemption is removed on July 1, 2016,  according to a leading financial advisory firm. Speaking at a seminar in Melbourne yesterday, Paradigm Wealth Management managing director Patrick  Nalty said the

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MDS & Libertas team up to offer advisers new ‘Build your own Dealer Group’ option

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My Dealer Services Pty Ltd (MDS) Chairman Don Wiggins has announced that the specialist support service provider for advisers seeking their own Australia Financial Services Licence (AFSL) has teamed together with Libertas Solutions Pty Ltd (Libertas) in a strategic partnership to address growing demand by advisers to operate under their own licence, not only as an individual, but

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My Dealer Services experiencing business growth as more advisers demand own AFSLs

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My Dealer Services Pty Ltd (MDS) Chairman Don Wiggins has announced that the specialist support service provider for advisers seeking their own Australia Financial Services Licence (AFSL) is experiencing a significant increase in demand by practice owners opting to operate under their own licence. Commenting on the escalated activity being addressed by MDS, Don Wiggins said there were many

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Accountants keen to stay in SMSF space, SPAA poll finds

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One in four accountants who are SPAA members and not operating under a AFSL have decided to apply for a limited licence or become an Authorised Representative (AR) of a licensee now – an encouraging sign considering the accountant’s exemption remains in place until 30 June 2016. Liz Ward, Head of Education Services for the SMSF

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Top adviser hands in AFSL – joins Affinia

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Troy Edmondson, a previous winner of the AFA Adviser of the Year award is handing back his AFSL and joining the newly formed national risk specialist dealer group Affinia. Troy said: “After holding the Licence for a number of years, the compliance obligations were taking me away from running a specialist insurance and estate planning

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ASIC updates guidance on financial requirements for AFS licensees

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ASIC has released guidance, clarifying the financial requirements with which Australian financial services (AFS) licensees must comply as part of their licensee obligations. Regulatory Guide 166 Licensing: Financial requirements (RG 166) sets out the financial requirements we have set for licensees, according to the types of financial services and products that they provide. ASIC is currently

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Applying for an Australian financial services licence made easier

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Applying for an Australian financial services (AFS) licence will be more efficient and involve less paperwork following changes announced by ASIC. Revisions to ASIC’s regulatory guidance for AFS licence applicants removes the requirement to submit paper versions of documents lodged online. Under the changes, applicants for an AFS licence will no longer be required to

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