Making Compliance Easy Have you outgrown your Dealer Group? Is it time for your own licence?
Making Compliance Easy
Have you outgrown your Dealer Group?
Is it time for your own licence?

Do I qualify

There are a number of criteria that you will need to meet to hold your own licence. These include financial and people resources.

Most importantly you will need to satisfy the competency test to be a Responsible Manager.

Full Licence

If you hold a qualification beyond the standard RG146 units, then there is a requirement for 3 years experience providing advice and dealing services. Typical advanced qualifications would be a relevant tertiary degree (eg Bachelor of Commerce), the CFP accreditation or an Advanced Diploma of Financial Planning.

If you do not hold qualifications beyond the standard RG146 units then you will need to have at least 5 to 8 years experience.

Limited Licence (Accountants)

There is currently a transition phase for the new Limited Licence. This will end in July 2016. Until that time you will just need RG146 qualifications provided you hold a relevant tertiary degree (eg Bachelor of Commerce), you are a member of a recognised accounting body (ICAA, CPA, IPA) and you hold a Public Practice Certificate.  

 

ASIC provide further guidance in section C of their Regulatory Guide 105

Contact us to discuss your specific circumstances.