The Corporations Act and ASIC require that if you carry on a business in Australia of giving financial advice you must hold and Australian Financial Services Licence (AFSL) with an authorisation to give advice, or be an authorised representative of such a licensee.
You may be offering general advice as a financial service in many formats including:
- Providing an educational course about a particular class of product
- Blogging your opinions about a particular financial product
- Presenting a video tutorial about your particular trading strategies
There can be at times a general misconception that there is no need for an AFSL if you are running an education, blogging or signal service website. However if you are giving any non-factual information including advice, trading signals or an opinion regarding a financial product it is most likely general advice and will need to operate under an AFSL.
HLK Group is happy to consult with companies that may be unsure on their regulatory requirements. These regulations are safeguards to protect investors, however it is not viable for many advice providers to apply for their own AFSL directly with ASIC as the application process can be long and very costly.
That’s why HLK Group's Authorised Representative solutions offer general advice providers a cost effective and efficient means to operate in compliance with ASIC Licensing regulations.
HLK Group has invested heavily in technology in order to have a very simplistic process to be appointed as an Authorised Representative with us.