Relevant providers must be registered with ASIC before providing personal advice to retail clients about relevant financial products. This includes time-share advisers. Provisional relevant providers cannot be registered.
Australian financial services (AFS) licensees can apply to ASIC to register their relevant providers with ASIC. To do this, the AFS licensees submits a ‘registration of relevant providers’ transaction on ASIC Connect.
The Financial Advisers Register is a public record of all individuals who have been authorised to provide personal advice to retail clients on relevant financial products. The Financial Advisers Register will also show the relevant provider’s registration status.
Up to 25 relevant providers can be included in one application for registration.
Steps to apply to register a relevant provider
1. Check you are permitted to submit an application for registration
You are permitted to submit an application for registration if you:
- have your own AFS licence
- manage an AFS licence for a business, or
- have been authorised to update the Financial Advisers Register by an AFS licensee.
You need to be set up in ASIC Connect to update the Financial Advisers Register. ASIC Connect is our online service for notifying and updating details with ASIC.
2. Collect the information you need
You need to provide details for each relevant provider you want to register, including:
- name
- business address, email address and phone number
- providing various declarations about:
- the relevant provider’s fitness and propriety to provide personal advice to retail clients in relation to relevant financial products.
- the relevant provider’s compliance with the education and training standards set out in section 921B of the Corporations Act.
- Whether the relevant provider is a qualified tax relevant provider if the relevant provider provides, or intend to provide, a tax (financial) advice service.
For a full list of declarations that must be provided as part of the registration process, see INFO 277 Registration of relevant providers: Guidance on making declarations. Documentation is not required as part of the registration process, however, you must declare that the information you have provided is complete and accurate.
3. Decide how you will pay
Fees apply for applying to register relevant provider with ASIC. You can choose to pay either:
- online using a credit card, or
- later by BPAY or invoice.
The total cost depends on how many relevant providers you are applying to register. See Fees to update the Financial Advisers Register.
4. Log in to ASIC Connect
Log in to ASIC Connect and follow the prompts.
Refer to How to register a relevant provider for step-by-step instructions.
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