In Australia, “financial dealer” means holding an Australian Financial Services (AFS) licence or being an authorised representative of someone who does. Map your scope (what products you’ll advise on or deal in), line up a suitably experienced Responsible Manager, complete RG 146 training, sort PI insurance, and set up compliance, record‑keeping and dispute resolution (AFCA if you have retail clients). Apply for an AFSL via ASIC’s eLicensing portal, pay the fee, and be patient—assessment can take months while they kick the tyres on your people, capital and controls. Once licensed, expect FSGs, SoAs, CPD, breach reporting, audits and constant paperwork—glamorous it isn’t, but necessary it is. Prefer fewer compliance migraines? Operate as an authorised representative under an existing licensee and let them carry the heavy clipboard. This is general information only; get professional advice before you dive in.
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