Financial Advice Licence Support Solutions | Pre-licensing Assessment | Application Management | Post-licensing Risk and Compliance Management

We offer a comprehensive set of solutions to help you obtain and maintain a financial adviser licence, tailored to:

• Your business goals and objectives
• Your client demographics
• Your countries of operation
• The size of your business
• The available human and technology resources
• Your risk appetite
• Your governance structure
• The products that you offer
• Regulated financial advisers' obligations covering risk and compliance management under financial laws and regulations, the applicable financial licensing requirements, AML/CFT laws, privacy laws, consumer protection laws, and more

We have designed our regulatory licensing solutions to help you navigate the complexities of the financial advisers’ licensing regime in a commercially oriented and goal-focused manner, providing effective support for all stages of the financial advisers’ licensing process, including but not limited to the following aspects:

• Financial Adviser Licence Guidance: Advising on a wide range of aspects associated with the financial adviser licence as it relates to your specific situation
• Pre-licensing assessment: Covering compliance gap analysis as well as risk and compliance assessment
• Pre-licensing support:
• Drafting the necessary policies and procedures to help you comply with the financial adviser licence conditions and financial markets' regulations
• Developing internal controls to help you meet your obligations under the financial advisers’ licensing regime
• Financial Adviser Licence Application Support: Covering the entire licensing process
• Post-licensing Support: Covering
• Ongoing compliance advice
• Comprehensive second-line risk and compliance support, including leading the implementation of your risk management framework (RMF), compliance management framework (CMF), compliance monitoring program (CMP), compliance calendar and checklist, ongoing risk assessments, internal and external reporting, outsourced providers' management, and more
• AML/CFT advice
• AML/CFT compliance management
• Compliance assurance solutions, including compliance assurance program (CAP) development, implementation, and internal control testing

 

Jurisdictional Coverage of our Financial Adviser Licence Solutions

We can help you apply for the financial adviser licence or its equivalent in the following jurisdictions:

• Australia: For more information on the Australian financial adviser licence – the financial adviser's AFSL issued under the Corporations Act 2001, you can visit our Australian Financial Advice Licensing page.
• New Zealand: For more information on the New Zealand financial advice provider licence (FAP) issued by the Financial Markets Authority (FMA) under the Financial Markets Conduct Act 2013, you can visit our FMA FAP Licence page.
• United Kingdom: For more information on the United Kingdom financial adviser's licence equivalent –the FCA authorisation for financial advisers issued under the Financial Services and Markets Act 2000 (FSMA), you can visit our UK Financial Advisers' Authorisation page.
• Singapore: For more information on the Singaporean financial adviser licence issued under the Financial Advisers Act 2001 (FAA) by the Monetary Authority of Singapore (MAS), please visit our Singaporean Financial Advice Licensing page.
• Other Jurisdictions: including financial adviser licensing in:

• The United States
• The European Union
• Prominent Financial Centres and Offshore Tax Havens

 

 

Service Coverage

We offer comprehensive support for a wide range of financial adviser licence applications tailored to meet the specific needs of the following businesses:

• Independent Financial Advisers
• Registered Investment Advisers
• Retirement Planning Consultants
• Estate Planning Specialists
• Investment Advisory Firms
• Broker-Dealers
• Robo-Advisers and Services

You can find more information about our financial adviser licence solutions below:

 

 

Financial Adviser Licensing Preparation

Pre-licensing Compliance Assurance

Our financial adviser licence solutions cover the following focus areas:

• Compliance Goals Analysis: We review your business-specific goals and resources against the suitability criteria for a financial adviser licence
• Initial Consultation: We provide guidance on potential risk and compliance issues that may arise during the financial advisers’ licensing process
• Choosing the Right Jurisdiction: We assist in evaluating regulatory, risk, and compliance environments to determine the most suitable jurisdictions for your financial adviser licence, tailored to suit your:

• business objectives,
• operational capacity,
• client base,
• markets of operations,
• and other relevant factors

• Gap Analysis: We identify gaps between your existing operations and regulatory requirements and help you align them in a commercially oriented manner
• Financial Adviser Licence Application Plan: We help you establish a roadmap to effectively meet the financial adviser licence requirements

 

Financial Adviser Licence Guidance

Selecting the right compliance model is crucial not only for navigating the licensing process but also for maintaining ongoing compliance and avoiding potential breaches. Our financial advisers’ licensing solution covers:

• Compliance Model Selection: To help you best comply with the financial advisers’ licensing regime and related risk and compliance obligations.
• Corporate Governance Model Selection: We offer practical guidance on establishing effective corporate governance practices that support your risk and compliance oversight.
• Operations Model Advisory: We advise you on optimising your operational and governance models to help you efficiently comply with the licensing requirements for financial advice providers and other applicable regulated financial advisers’ obligations, keeping in mind your specific circumstances, available resources and business goals.

 

Entering The Financial Adviser Licensing Environment

We help businesses transition from an unregulated environment to operating under the financial advisers’ licensing regime, helping them meet their obligations as a financial adviser licence holder.

We also assist already regulated businesses in aligning their existing risk and compliance management structures with the financial advisers’ licensing regime requirements.

Our focus areas for this service include:

• New businesses
• Existing financial advice providers operating in unregulated markets
• Regulated financial advisers expanding into foreign jurisdictions
• Financial institutions and/or service providers with established risk and compliance frameworks seeking to offer regulated financial advice services as a new product.

 

Multi-Jurisdictional Compliance

With years of experience managing risk and compliance obligations for businesses operating under multiple financial licences across various jurisdictions, we help businesses remain compliant with regulated financial advisers’ obligations globally.

 

Financial Adviser Licence and Wholesale Markets

Getting a financial adviser licence may not always be the best fit for all. For example, a retail market expansion may not always align with your goals or the products you offer.

Operating in the wholesale environment can sometimes be a more suitable option. We offer a wider range of risk and compliance management solutions to assist financial advisers that:

• Operate in the wholesale markets
• Operate under exemptions from the financial advisers’ licensing regime
• Operate under a financial adviser licence limited to sophisticated, eligible, and wholesale investors

 

We help these businesses comply with the regulatory compliance obligations that still apply despite the absence of the financial advisers’ licensing regime or apply under the wholesale-only licensing framework, including:

• Advertisement Rules
• Fair Dealing Regulations
• Risk Management
• Outsourced Providers' Oversight
• Restrictions on offering services to retail investors (an integral part of the financial advisers’ licensing regime)
• Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) laws and regulations
• Data Management Laws and Regulations

 

 

 Financial Adviser Licence Application

We assist with your licence application through ongoing engagement in the financial advisers’ licensing process:

• Document Compilation and Review: We compile and review all required supporting documents to support your financial adviser licence application.
• Application Form Completion: We assist you in completing the forms to ensure all material information is accurate and complete.
• Pre-Submission Review: We can arrange a pre-submission review session with key stakeholders to ensure all parts of your application are understood and agreed upon. This session aligns application details with the actual situation, removing ambiguity.
• Financial Adviser Licensing Process and Regulatory Liaison: We manage the end-to-end submission process, maintaining clear and effective communication channels throughout the licensing process.
• Timeline Management: We closely monitor and adhere to all necessary deadlines, providing timely updates and adjustments to keep the application process on track.

 

Resolving Financial Adviser Licence Issues

Having competent compliance advisors is crucial when licensing issues arise. Therefore, our financial adviser licence solutions include a range of services to address and resolve these issues effectively:

• Remediation Solutions for Financial Adviser Licence Applicants: We address and remediate risk and compliance issues identified by regulators, helping your operations align with the financial advisers’ licensing regime requirements.
• Specific Licence Conditions Compliance: We can help you manage additional conditions imposed on your financial adviser licence, developing a tailored action plan to maintain compliance and facilitate the eventual removal of these conditions with minimal disruption to your business operations.
• Licensing Issues Handling: We address common licensing issues encountered during the financial advisers’ licensing process, providing you with solutions to navigate and resolve these challenges efficiently.

• Further Information: You can visit our Compliance Remediation Solutions page for more information.

 

Post-Licensing Support

We offer a full range of ongoing risk and compliance solutions for licensed financial advisers. Our services include, but are not limited to:

Ongoing Risk and Regulatory Compliance

• Regulated Financial Advisers’ Obligations Guidance: We can advise your risk, compliance, management and other teams on meeting the requirements of the financial advisers’ licensing regime and other regulatory compliance obligations. You can visit our Compliance Advisory page for more information.
• Regulatory Risk and Compliance Management: We provide dedicated compliance managers to manage your overall compliance. For more information, visit our Specialised Compliance Management Solutions page for Financial Advisers.
• Compliance Assurance Solutions: As part of our compliance assurance solutions, we offer:
• Compliance Assurance Program (CAP) development and testing options
• Internal Controls Design option
• Internal Controls Testing option
• Internal AML/CFT Review option
• Statutory AML/CFT Audit option
• Compliance Training Solutions: We offer training programs to different teams on complying with:
• Regulated financial advisers’ obligations for risk and regulatory compliance management. You can visit our Compliance Training page for more information.
• Financial Advisers’ AML/CFT obligations and operational best practices for fraud prevention. You can visit our AML/CFT Training page for more information.
• Crisis Management Planning: We can develop proactive strategies to manage potential compliance crises effectively.
• Anti-Money Laundering (AML) and Counter Terrorist Financing Solutions: We provide a full range of AML/CFT solutions for financial advice providers. For more information, visit our Specialised AML/CFT Solutions page for Financial Advisers.
• Advanced Compliance Technologies: We can assist you with selecting and integrating advanced technology solutions, such as compliance automation tools and regulatory technology (RegTech), to streamline compliance processes without disrupting operations.
• Risk and Compliance Framework Adjustments: Including adjustments to risk management frameworks (RMFs), compliance monitoring programs (CMPs), compliance management frameworks (CMFs), and other core procedures and policies to align them with:
• new business goals
• regulatory changes
• changes in your operations
• evolving market conditions
• changes in stakeholders’ risk appetites (e.g., your banking partners, insurance companies, and liquidity providers).

 

 

Risk and Compliance Obligations for Financial Adviser Licence Holders

Financial adviser licence holders are subject to various obligations set out in applicable laws and regulations. They are also expected to uphold standards for their conduct and internal operations, as outlined in regulatory guidance or accepted industry practices.

We can help you address these obligations and expectations through comprehensive support in the different areas. The list below is not exhaustive:

Financial Adviser Licence and Regulatory Compliance Obligations

• Compliance Management Systems: We can help you establish effective compliance programs, compliance monitoring plans, controls testing methodologies, compliance calendars and more.
• Risk Management Frameworks: We can help you develop comprehensive risk management frameworks to fulfil regulated financial advisers’ obligations for identifying, assessing, and mitigating operational, regulatory, strategic, financial and other types of risks.
• Policy and Procedure Development: We can help you draft and implement policies and procedures aligned with the financial advisers’ licensing requirements.
• Compliance Monitoring Plans: We can oversee the execution of your CMPs, covering ongoing monitoring of your compliance obligations under the financial advisers’ licensing regime.
• Internal Control Testing and Compliance Assurance: We can conduct internal reviews and audits of your controls to test their effectiveness and compliance with the applicable regulatory standards.
• Digital Payment Token Services: Where applicable, we can assist in developing controls to comply with regulations for digital payment tokens, cryptocurrencies, and digital assets, including obligations under the financial advisers’ licensing regime and AML/CFT requirements for transaction monitoring and reporting.

 

 

Financial Adviser Licence and Operational Oversight Obligations

• Oversight of Outsourcing: We can establish a set of effective controls to comply with financial advisers’ licensing obligations for overseeing outsourced services, covering related obligations under AML/CFT compliance, ISO requirements, and more.
• Structures for Governance: We can help you establish effective governance structures to comply with regulated financial advisers’ obligations and develop an effective approach to overseeing your risk exposure and compliance status across different functions of your business.
• Senior Management Accountability: We can help you comply with regulated financial advisers’ obligations for senior management and key staff conduct and competence.
• Maintaining Operational Resilience: We assist in developing continuity plans to meet regulated financial advisers’ obligations for operational resilience, helping critical business services withstand disruptions.
• Managing Technology Risks: We provide guidance on technology risk management obligations under the financial advisers’ licensing regime.

 

Financial Adviser Licence and Market Integrity/Transparency Requirements

• Principles for Fair Treatment: We can help you implement controls to comply with expectations that cover adherence to principles of fair treatment and transparent communications with clients.
• Standards for Conduct and Disclosure: We can help you comply with financial advisers’ licensing standards for conduct and disclosure.
• Resolution of Disputes: We can help you establish effective mechanisms for dispute resolution and complaints management, particularly for retail clients.

 

Financial Adviser Licence and Resource Management Obligations

We can help you comply with the following requirements of the financial advisers’ licensing regime:

• Adequacy of Resources: Covering financial, technological, human and other resources.
• Competence of Professionals: Covering key personnel, their necessary skills, knowledge, and professional competence.
• Our focus areas include:

• Assessment and Gap Analysis: We can help you evaluate the adequacy of your financial, technological, and human resources against the requirements of the licensing regime.
• Resource Allocation Plans: We can help you develop strategies to optimise resource allocation, covering sufficient capacity for compliance, operations, banking, customer support and other functions and departments.
• Technological Solutions: We can recommend and implement RegTech tools to streamline compliance processes, such as transaction monitoring, reporting, and audit trails.
• Key Personnel Assessment: We can help you assess the skills, qualifications, and experience of key personnel to identify areas for improvement.
• Training and Development Programs: We can design and deliver targeted compliance training programs to upskill personnel in compliance, risk management, and financial advice regulations.
• Compliance Monitoring: We can help develop controls to monitor representatives' adherence to conduct and disclosure obligations.
• Ongoing Training: We can help you create a framework to support continuous education for advisors and representatives on licensing obligations, market integrity, and client interaction standards.

• Regulator Liaison: We can act as an intermediary with regulators to address queries and help you demonstrate compliance with resourcing obligations.

 

 

Financial Adviser Licence and Reporting

• Regulatory Reporting: We can help you prepare and submit periodic and ad-hoc reports covering:
  • Financial Advisers’ Licensing Obligations
  • Financial Advisers’ AML/CFT obligations (SMRs, STRs, SARs, cross-border transaction reports, cash transaction reports, and other reporting obligations)
  • Regulated Financial Advisers’ Obligations under financial market conduct laws and regulations
• Compliance Documentation: We can help you develop and maintain the necessary documentation to meet record-keeping obligations under various laws and regulations.
• Audit Readiness: We can prepare you for audits and reviews to demonstrate compliance with regulatory requirements, provisions of the financial advisers’ licensing regime, applicable operational standards, and more.