Who this helps
- - AFSL applicants
- - Responsible manager candidates
- - Financial adviser entrants
- - Authorised representative teams
- - Australia securities learners
First decision
Decide whether the issue is an AFSL held by an entity, authorised representative status, responsible manager evidence, or financial adviser professional standards before choosing the exam or application route.
Role tracks
Financial adviser entrant
Licensing question
Will the person provide personal financial advice to retail clients and need professional standards, exam, education, and FAR evidence?
Exam or qualification check
Use ASIC financial adviser exam and professional standards pages before treating study notes as current.
Register check
Use the Financial Advisers Register to verify status, authorisations, licensee, and history.
Responsible manager or AFSL applicant
Licensing question
Which responsible managers prove organisational competence for the AFSL authorisations requested?
Exam or qualification check
Responsible manager evidence is not just an exam pass; it needs experience, authorisation coverage, availability, and governance evidence.
Register check
Use ASIC professional registers and comparable AFS licensee searches to check licence and authorisation patterns.
Authorised representative or startup operator
Licensing question
Will the business operate under its own AFSL, as an authorised representative, or through another appointed structure?
Exam or qualification check
Check the role, product, client, and authorisation scope before choosing adviser exams or representative onboarding evidence.
Register check
Check ASIC professional registers for licensee, authorised representative, and adviser records where relevant.
Starter steps
Days 1-7
AFSL or representative route
- - Read ASIC AFSL and professional standards sources before treating a job title as the route.
- - Map products, client type, personal advice, general advice, dealing, fund management, and custody/client asset facts.
- - Open ASIC professional registers and FAR records for comparable firms and advisers.
Days 8-30
People and authorisation evidence
- - Map responsible managers, authorised representatives, relevant providers, advisers, and compliance owners separately.
- - Use the financial adviser exam route only if the person is in the adviser professional standards pathway.
- - Draft responsible manager experience, availability, and authorisation coverage evidence early.
Days 31-90
AFSL readiness
- - Build organisational competence, financial resources, risk management, compliance, dispute resolution, outsourcing, and client asset evidence.
- - Use the AFSL application pack and evidence pack builder to identify missing proofs.
- - Recheck ASIC application and register sources before filing or appointing representatives.
Evidence to start
- - AFSL authorisation matrix by product, service, and client type.
- - Responsible manager experience, role, availability, and authorisation-coverage proof.
- - Financial adviser exam, education, CPD, and FAR notes where relevant.
- - ASIC professional registers and FAR check log.
What to verify
- - Whether the person is a responsible manager, relevant provider, authorised representative, or other representative role.
- - Whether the business needs its own AFSL or can operate under an existing licensee structure.
- - Whether ASIC application, professional standards, and register source pages changed before relying on the plan.
Common mistakes
- - Assuming responsible manager evidence is the same as financial adviser exam evidence.
- - Ignoring authorisation scope by product, service, and client type.
- - Checking FAR but not the broader ASIC professional register or licensee record.
Disclaimer
Information on LicenseCompare is for general educational purposes only and does not constitute legal, regulatory, financial, tax, investment, or professional advice. Licensing requirements depend on facts and change over time. Always consult official regulator materials and qualified professional advisers.