Guide · Choosing an adviser
How to check a financial adviser is licensed
Anyone giving personal financial advice to retail clients in Australia must be authorised by an Australian Financial Services licensee and listed on ASIC’s Financial Advisers Register. Here is how to check, in about two minutes.
Step by step
Using the Financial Advisers Register.
- Go to ASIC’s Financial Advisers Register on Moneysmart.
- Search the adviser’s name or number.
- Check their status is current, who their licensee (AFSL holder) is, and what they are authorised to advise on.
- Check the licensee on ASIC Connect’s professional registers if you want more detail.
For example, Shay is listed as adviser 000412776, authorised by Financial Force Pty Ltd, AFSL 238337.
What to ask for
Documents you should get.
- Financial Services Guide (FSG): who they are, what they can do, how they are paid, how to complain. What an FSG is.
- Statement of Advice (SOA): any personal advice must be in writing. What’s in an SOA.
- Fee disclosure: ongoing fees must be disclosed and agreed.
Red flags
Walk away if you see these.
- Not on the register, or the name doesn’t match
- Guaranteed or unusually high returns
- Pressure to decide today, or to move super quickly
- No written advice or unclear fees
Check ASIC’s Moneysmart for scam warnings. Complaints about licensed advisers go first to the licensee, then to AFCA.
General information only. It does not take into account your objectives, financial situation or needs. Consider the relevant PDS and our Financial Services Guide, and get personal advice before acting.
Common questions
What qualifications must an adviser have?
Advisers on the register must meet education and exam standards set by law and follow the financial advisers’ Code of Ethics. The register shows qualifications history.
Is FinForce on the register?
Yes. Shay is adviser 000412776 and FinForce (Ramnath Group Pty Ltd) is Corporate Authorised Representative 001241242 of Financial Force Pty Ltd, AFSL 238337.
Next step
Talk to our team on Edward Street.
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