Financial advisers register

Important information about the financial advisers register

• The information on the register is provided by financial advice businesses (licensees and/or authorised representatives). ASIC does not check or review the information before it is put on the register.
• Financial advisers on this register provide personal financial advice that is specific to your needs and circumstances. They advise on investments, superannuation and life insurance.
• If you have any questions about a financial adviser that are not addressed by this register, please contact the business they work for directly.
• We encourage you to give us feedback to help us improve the register. See frequently asked questions to find out how.

Data shown on searches of the financial advisers register is the result of lodgements from Australian Financial Services (AFS) licensees and authorised representatives in accordance with their obligations under the Corporations Act 2001 and Corporations Regulations 2001.

A licensee has provided incorrect or misleading information on the register. How do I let ASIC know?

The information on the register is provided by licensees. They are required to ensure that information about their financial advisers is true and correct.

If you think the information is incorrect or misleading, first contact the licensee that provided the information. If, after contacting the licensee, you are still concerned about the accuracy of information on the register, you can lodge a report of misconduct with ASIC. 

I am a financial adviser and my details on the register are incorrect. How can I change these?

If you are authorised by an AFS licensee, notify them of the change. They have 30 business days to update the register. If you are the AFS licensee, you can notify ASIC about changes or corrections to your details through ASIC Connect.

How can I give feedback to improve use of the register?

We encourage you to give us feedback to help us improve the register. Send your comments and suggestions to [email protected].

There are too many results shown when I search for an adviser's name. How do I know which one to select?

You will need to get more details from your financial adviser, such as their representative number or Australian Business Number. Use these to find them on the register.

The financial adviser I am looking for is not showing on the register. Should I deal with them?

Financial advisers who provide personal advice on investments, superannuation and life insurance must appear on this register. Personal advice considers your particular circumstances, such as your objectives, financial situation and needs.

If the financial adviser is not on the register, it means they cannot legally provide you personal advice on investments, superannuation and life insurance. 

A financial adviser who is operating properly under a licence is one who holds an Australian Financial Services (AFS) licence. Or is employed by or authorised to represent a business that holds an AFS licence.

You can check the licensee's name on ASIC Connect's Professional Registers.

What is the difference between personal advice and general advice?

Personal advice takes into account your particular circumstances, such as your objectives, financial situation and needs. General advice does not take these things into account. 

Working with a financial adviser explains the steps involved with each stage of the financial advice process. From preparing to meet an adviser, through to reviewing and implementing financial advice.

Can ASIC recommend a financial adviser? How can I tell who is reputable?

ASIC does not endorse or recommend financial advisers. For tips on how to find the right adviser for you, see choosing a financial adviser.

What does it mean if the financial adviser has disciplinary actions by ASIC or the Financial Services and Credit Panel recorded against them?

This register is required to show whether:

• an adviser has been banned from providing financial services
• an adviser has been disqualified from managing corporations
• ASIC or the Financial Services and Credit Panel has accepted an enforceable undertaking from the adviser to do or not do certain things
• the Financial Services and Credit Panel has:

-  made a registration suspension or prohibition order in relation to the adviser
-  given the adviser an infringement order
-  issued the adviser a direction (such as to undertake training), under certain circumstances

• an adviser has been banned or disqualified from engaging in credit activities
• an adviser has been disqualified from being an approved SMSF auditor.

These disciplinary actions are generally taken by ASIC or the Financial Services and Credit Panel because an adviser has broken the law. You can find out more about bannings and actions on the ASIC website. Or see what to do when your adviser has been banned.

How do I check what products my financial adviser can advise on?

The register lists the product types an adviser is able to provide advice on. Check your adviser's Financial Services Guide (FSG) to find out more about the products they can advise on. You may need to ask for this document or look for the information on their website. 

My adviser has recommended an investment product that does not match the product type on the register. What should I do?

The register lists product types an adviser is able to provide advice on, rather than specific names of investment products. Ask your adviser the product type for the recommended product. You can check this in any Statement of Advice (SOA) or Financial Services Guide (FSG) provided by your adviser. You may need to ask for this. 

If you believe your adviser has recommended a product outside the product types on which they can advise, you can complain. Make a complaint to their licensee or employer, or lodge a report of misconduct with ASIC.

Does ASIC check the information provided on the register?

No, it is the licensee's legal obligation to ensure the information provided on the register is true and correct.

ASIC may take action if information on the register is proven to be misleading or incorrect.

A financial adviser has given me bad advice. How do I lodge a complaint?

For guidance on how to deal with bad advice, see problems with a financial adviser.

How often is the data updated?

Licensees must keep their information on the register true and correct. When a financial adviser's details change, the licensee must update the register within 30 business days.