Boutique AFSL vs Your Own License?

You’re running a successful financial planning firm and everyone you meet says, “Why not get your own license? Do it your way!”  It sounds enticing.

There are any number of providers that will, for a modest fee, assist you in obtaining your license and provide you with all the templates and infrastructure, for you to run your AFSL your way. You just need to spend a bit of time setting it up, pay your professional indemnity insurance, join FOS and then you won’t have to do much again after that!

All of this can and does work well for some. However, the reality is that the fees to properly maintain a license, once you take your time into account, are probably no more or less than what a good licensee would charge a firm of your size. Indeed, Professional Indemnity insurance for new financial planning licensees has risen to about $18,000 p.a. A significant increase according to brokers in this space.

You are the master of your own destiny. You can do what you want, use any product and strategy and invest your clients in what you want without limitation. Keep all the revenue. Have greater control. All this while, if you’re the responsible manager, trusting those giving advice under your license to do the right thing because if not, ASIC talks to you.

Do you really want to take on board managing that risk ?

There is an alternative that retains the options and flexibility in having your own AFSL, however removes you from the compliance side of running your own License.

Insight Investment Services is a small boutique licensee with a 11 year history. A history that has an untarnished reputation.

Contact us for more information on how you can benefit from being associated with a boutique AFSL.
Ph 07 3018 0400 and ask for Paul Kelly.

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