AFS Licensing & FSR

AFS Licensing & FSR


Personal -v- General Advice Training

27 June 2018

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Personal v General Advice: Sales Training Course for AFS Licensees

We have purpose built a half-day advice training course for people who need to understand the distinction between general and personal advice.  This course is a half-day version of our fuller Best Interests, Advice & All That course.

Currently, this course is not a public seminar course.  Rather, it aims to provide staff of an organisation or specific industry with a relevant and practical course tailored to them.

We run the course for industry segments, including:
  • Providers of OTC derivatives and foreign exchange contracts.  This is for AFSL holders who are either: 

a.  Corporate Remitters who issue forward contracts or FX Options, or
b.  CFD and margin FX issuers;

  • Financial advisers, ranging from smaller self-licensed practices, through to Australia-wide ASX-listed financial planning dealer groups;
  • Stockbrokers (we have trained many of Australia’s largest stockbroking firms on this topic);
  • Banks (we have trained many of Australia’s bank-aligned advisers on this topic).

Benefits of the course

As a result of this course, participants should be able to:

a. explain key terms in the financial services regulatory regime, including “financial service”, “financial product”, “financial product advice” and “dealing”;

b. identify circumstances when financial product advice is provided;

c. distinguish between personal advice and general advice, using lots of live industry-specific examples;

d. explain when warnings are required to be provided to clients;

e. explain the process by which breaches are to be assessed for significance; and

f. identify the different enforcement options available to ASIC.

Training Method

We use role plays, live scripts from Court cases or Royal Commissions, and other immersive and interactive methods to present the law in an engaging way.  

Who should do this course

  • Financial advisers;
  • stockbrokers;
  • Providers of research reports;
  • Compliance staff;
  • Advice analysts;
  • AFSL Responsible Managers;
  • Para-planners;
  • Sales staff;
  • Marketing Managers;
  • Counter staff; and
  • Telephone sales staff.