The Importance of Updating your ASIC Financial Advisers Register Listing

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Since its launch on 31 March 2015, ASIC’s Financial Advisers Register (“the Register”) has been a valuable source of information for members of the public and those interested in engaging a financial adviser. The Register contains details of persons employed or authorised (both directly or indirectly) by Australian Financial Services (“AFS”) Licensees to provide financial advice to retail clients. The Register captures each financial adviser’s qualifications, training and professional membership details.

All AFS Licensees and Authorised Representatives should review the Register on a regular basis to ensure their information is current and correctly recorded.

What are the benefits of updating your information?

  • It ensures a true an accurate reflection of your education, qualification and memberships is available to members of the public, including potential clients; and
  • Any incorrect information about you or your representatives on the Register can be removed or updated.

What to do if your information is incorrect or if you need to make changes?

AFS Licensees and Authorised Representatives can request a correction to the Register if an adviser’s information is incorrect. Licensees and Representatives can also notify ASIC of any changes online via ASIC Connect. This includes:

  • Updating a financial adviser’s authorisations;
  • Updating a financial adviser’s qualifications, training, and professional memberships;
  • Changing a financial adviser’s name (due to marriage, name change, etc.);
  • Adding a financial adviser’s Australian Business Number (ABN); and
  • Ceasing a financial adviser’s appointment.

It is important that all advisers and licensees ensure that all the details included on the Register are correct, as ASIC will use this information when verifying work experience and qualifications for futures applications for AFS licences.

If you have any questions or would like further information on updating your information or making a correction, please contact us.

About The Author

Ivana Josic

Ivana is responsible for all Marketing activities for Sophie Grace and assists both the Compliance and Legal teams with a particular focus on Compliance services. Ivana focuses on website development, management and ensures clients receive the latest regulatory updates through Sophie Grace social media channels, the newsletter and website blog page. Ivana also assists the Compliance team with drafting and amending compliance documentation, preparing AFSL and ACL Applications and implementing ongoing compliance solutions.

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