Financial Advisers Register
The is published on the Moneysmart website and is managed by ASIC.
The Financial Advisers Register is a public record of relevant providers (also known in the industry as financial advisers) who provide personal advice to retail clients on relevant financial products. It allows consumers to:
- check that a relevant provider is authorised to provide financial advice
- check that a relevant provider is registered to provide financial advice
- find information about a relevant provider before getting financial advice from them.
The Financial Advisers Register also improves:
- the ability to assess the qualifications, experience and employment history of relevant providers
- ASIC's ability to identify and monitor relevant providers in Australia.
Who is on the Financial Advisers Register
The Financial Advisers Register lists all individuals who are authorised to provide personal advice to retail clients on relevant financial products. These individuals are generally known as relevant providers.
'Relevant financial products' do not include:
- basic banking products
- general insurance products
- consumer credit insurance
- a combination of any of those products.
A relevant provider who has their own AFS licence is listed on:
- the Financial Advisers Register, and
- 迟丑别听.
A relevant provider who is also an authorised representative is listed on:
- the Financial Advisers Register, and
- 迟丑别听.
Who is not on the Financial Advisers Register
Relevant providers who do not provide personal advice to retail clients on relevant financial products are not on the Financial Advisers Register. For example, a person who provides the following types of advice will not be listed on the Financial Advisers Register:
- general advice
- personal advice on products that are not relevant financial products (such as general insurance, consumer credit insurance or basic banking products).
- personal advice to wholesale clients only.
If this person is an authorised representative for an AFS licensee, they will be listed on 迟丑别听.
Only individuals are listed on the Financial Advisers Register. If an AFS licence is held by a company, the company will not be listed on the Financial Advisers Register. If an AFS licence is held by an individual in their own name, the individual will be listed on the Financial Advisers Register.
Who updates the Financial Advisers Register
While ASIC manages the Financial Advisers Register, it is the AFS licensees' responsibility to add and update information on the Financial Advisers Register. It is a breach of their obligations not to do so and penalties may apply.
AFS licensees can authorise other persons to update the Financial Advisers Register on their behalf. See Who updates the Financial Advisers Register for more information.
Information on the Financial Advisers Register
The Financial Advisers Register provides information about relevant providers, including:
- name
- work history
- qualifications and training
- financial products they can advise on
- registration status.
See the full list of聽Information on the Financial Advisers Register, including what is mandatory or optional.
Fees for updating the Financial Advisers Register
Fees apply to appoint (add), register, maintain (update) or remove (cease) relevant providers from the Financial Advisers Register.
厂别别听Fees to update the Financial Advisers Register聽for a full list of fees.
When to update the Financial Advisers Register
AFS licensees must update the Financial Advisers Register when:
- they authorise a relevant provider
- no longer works under their licence
- a relevant provider鈥檚 details change 鈥� for example, their name, qualifications or financial products they can advise on.
AFS licensees must update the Register within 30 business days.
When to register a financial adviser with ASIC
An AFS licensee can apply to register a relevant provider after the relevant provider has been appointed to the Financial Advisers Register.
The relevant provider will not be registered until ASIC has recorded the relevant provider鈥檚 registration on the Financial Advisers Register. For more information about registering relevant providers, see Information Sheet 276聽Registration of relevant providers听(INFO 276).
How to update the Financial Advisers Register
AFS Licensees can update the Financial Advisers Register using聽.
For more information, see:
- Appoint (add) a relevant provider
- Registering a relevant provider with ASIC
- Maintain (update) or correct a relevant provider鈥檚 details
- Cease (remove) a relevant provider
Reporting inaccuracies on the Financial Advisers Register
If you are concerned about the accuracy of information on the Financial Advisers Register, see聽Disputes about the Financial Advisers Register.