Understanding the Role of a CAR in the Australian Financial Services Industry by Avenir Capital A Corporate Authorised Representative (CAR) is a company or organisation appointed by an Australian Financial Services Licence (AFSL) holder to provide financial services on its behalf. This arrangement allows the CAR to operate within the regulated financial services industry without holding its own licence, provided it complies with the conditions set by the AFSL holder. CARs pla

Become an authorised representative under Avenir Capital's AFSL to fast track the launch of your financial services business

Defining a Corporate Authorised Representative (CAR) A Corporate Authorised Representative (CAR) is a business entity or organisation...

Avenir Capital's AFSL Authorised Representative, Andrew Speers, founding partner and chief operating officer of SoHi Partners featured in...

Snapshot: On 20th March 2024, the Parliamentary Joint Committee on Corporations and Financial Services initiated an inquiry into the...

At what point do I need an AFSL to sell a financial product or service? If you’re currently at this stage, we'll try and demystify the...

More than ever before, data breaches and privacy concerns are increasingly prevalent and as AFSL holders we face unprecedented challenges...

The process of obtaining an AFSL (Australian Financial Services Licence) can be pretty time-consuming and requires deep understanding of regulatory requirements relevant to your specific financial service or product offering. 'How long does it take?' is a question very often asked and we can confidently say, the timeline for approval varies depends on the complexity of your application. Generally speaking... it can take several months, and in some cases, up to 10 months or ev

A Corporate Authorised Representative (CAR) is a company or organisation that has been granted permission by an Australian Financial Services (AFS) licensee to provide financial services to clients on behalf of the licensee. The CAR acts as an agent of the AFS licensee and is authorised to provide specific financial services outlined in their agreement with the licensee. These services may include financial advice, investment management, insurance broking or dealing in financ

I wish I had a dollar every time I saw an email pop up with the subject line "is your AFSL for sale?" !!!! As a team, we know what it's like... we've been there... you've got an exciting plan to launch a new fund or financial service but the reality of compliance and ASIC regulations quickly takes the wind out of your sails and sadly buying someone else's AFSL is not an option. If you're currently operating outside of Australia, let me just explain first of all.. an AFSL is a

“Do you need your own AFSL or can you use someone else’s?” “HELP. I want to provide financial services but I don’t hold an Australian Financial Services Licence!! What are my options…?” These are the most common questions we hear from people when they're entering the world of AFSL! And what we can say with hopefully some reassurance for you, is that yes, you do need to operate under an Australian Financial Services Licence (AFSL) but not having one doesn’t need to slow you do

Obtaining an Australian Financial Services Licence (AFSL) can be a complex process. It involves a number of steps, including: 1. Determining your eligibility: To be eligible for an AFS license, you must have the necessary knowledge, skills, and experience to provide financial services. 2. Identify the type of financial services you want to provide under your AFS license as this will determine the type of license you need and the regulatory requirements you must meet. 3. Appoi

(Our Avenir Capital founder at a party!!) An Australian Financial Services License (AFSL) is required when providing advice or services related to certain financial products, such as securities, derivatives, and superannuation. This is a regulatory requirement set out by the Australian Securities and Investments Commission (ASIC). There are severe penalties – we’re talking fines to imprisonment – for people who do not comply with the rules, and that can stretch to anyone asso

For all the key words & phrases you need to know from 'AFSL authorised representative service' to 'Custodian' to 'Trustee' in the investment space - see below! Further questions around compliance, ASIC requirements and AFSL obligations, or if you're interested in discussing how Avenir Capital can provide you with access to their wholesale licence (AFSL 405469 issued in 2011), please contact us for an obligation free consult: >> complete our short enquiry form OR, contact one

AFSL Compliance!! We know it's not pretty, it's not fun & doesn't get you out of bed in the morning, but it's critical for running a fund in Australia & market and regulator expectations have increased significantly in the past year. In the past 18 months we have seen ASIC increasing its scrutiny against non-complying Australian financial services (AFS) licensees and a number of investment funds and licensee holders have found themselves under the spotlight. When a company is

There are many obligations of being an AFS Licensee from holding adequate professional indemnity insurance, maintaining a minimum level of net tangible assets, being able to produce regular cash flow projections to ensure the availability of sufficient financial resources to meet obligations on an ongoing basis through to multiple requirements mandated by law and ASIC policy. So it's not surprising that many investment professionals seek out the services of an AFSL licensee.