RG 146 Role of the Licence Holder
As licence holder you need to undertake the following ...
1. Needs Analysis of your Entity
Process: Outline the functions of your Entity within the context of your AFS licence authorisations, possibly supplemented with meetings with
several of your senior staff. Financial Education Professionals
can assist you.
Output: Recommendation to your Entity of the appropriate competencies required of your staff.
2. Which Competencies Apply to Your Staff?
As the licence holder it is your responsibility to determine which competencies apply to your staff.
Financial Education Professionals can help you to determine the appropriate competencies. Contact us to discuss how we can assist.
3. Review of Licensed Staff
Process: Review of the role of each staff member, identifying and confirming suitable competencies, review of existing qualifications, matching to RG 146 competencies, identification of any gaps and recommending how to meet gaps. This task may involve meeting with each individual staff member.
Output: Recommendation on the current status of each staff member including highlighting any training gaps.
4. Knowledge Assessment for Experienced Advisers
Process: For staff who meet ASIC's relevant experience requirements Financial Education Professionals will conduct Knowledge Competency Assessments at times and in locations that suit the work pressures of your staff.
Output: Certificate of Attainment for each staff member who is able to demonstrate the required competencies.
5. Knowledge and Skills Assessment for Newer Advisers
Process: Provide training for less experienced staff for:
- Knowledge Competencies
- Face to face short courses at times that suit your staff's work pressures, or
- Study Guides to allow your staff to work develop the knowledge required for each competency in their own time
- Skills Competencies Training and Assessment, for those providing Personal Advice
- i. Workshop simulations
- ii. Workplace assessment
6. Competency Compliance Report
Output: A Competency Compliance Report that outlines the process and the final outcomes in a form that is suitable for your Compliance Records.