Is self-licensing for you?

Are you considering obtaining an Australian Financial Services License (AFSL) to operate your own self-licensed financial advice business?

This self-licensing readiness assessment tool will help you evaluate your preparedness for meeting the regulatory requirements and ongoing obligations of holding an AFSL.

The assessment covers critical areas outlined in various ASIC Regulatory Guides, including financial resources (RG 166), organisational competence (RG 105), training and qualifications (RG 146), compliance and risk management (RG 104), internal dispute resolution (RG 271), and the good fame and character of officers (RG 105).

By answering the following ten questions honestly, you will gain insights into your strengths and potential gaps in meeting ASIC's expectations for AFSL holders. This assessment is not a definitive evaluation but rather a starting point to help you decide whether self-licensing is the right path for your business.

Please note that this assessment does not consider the additional requirements for obtaining a Credit Service License (CSLR), which may be necessary if you plan to provide credit assistance or engage in credit activities.

After completing the assessment, you will receive a score and interpretation to help you determine your readiness for self-licensing.