There are several criteria that you will need to meet to hold your own licence. These include financial resources and operational (people and IT) resources.
Most importantly, you will need to satisfy the competency test to be a Responsible Manager.
If you hold qualifications beyond a basic diploma, then there is a requirement for 3 years’ experience as a financial adviser. Typical qualifications would be a relevant tertiary degree, post graduate qualification, the CFP accreditation or an Advanced Diploma of Financial Planning.
If you only hold a basic diploma, then you will need to have at least 6 years’ experience.