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Is self-licensing right for your business?

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30 January 2024 by Laura Dew, Money Management

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Advisers may be contemplating the switch to running their own Australian financial services licence (AFSL) after the recent spike in micro-AFSLs, but commentators have warned it is not necessarily the right path for everyone.

Research by Wealth Data found all but two of the 113 new licensees that commenced in 2023 have less than 10 advisers. Similarly, Adviser Ratings found small licensee groups of one to 10 advisers have seen a 17 per cent rise since 2018.

The trend for micro-AFSLs was a popular route in 2023 and is expected to continue this year as high fees push people away from the larger dealer groups where licensing fees can reach as much as $40,000 a year.


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