Navigator provides budget AFSL solution

Financial services companyNavigatorwill be providing a low cost service to assist securities dealers and life insurance brokers obtain Australian Financial Services Licences in the final months before deadline.

The group warns dealers and life brokers to take heed of theAustralian and Securities Investments Commission’s (ASIC) warnings that applications lodged in the last three months of the transition period run the risk of missing deadline, and ultimately a failure to receive a licence.

Navigator general manager product distribution Shaun Williams says the group hopes the service - called n-able - will step into the breach.

Navigator says the price of its service “compares favourably to amounts being quoted by other providers”, with the total cost of using the service amounting to less than $2,800.

Dealer and life brokers who attend one of the n-able seminars hosted by Navigator will be provided with a customised step by step check list on how to obtain a licence.

The group also says that following the seminar, any attendees needing further assistance with the application can attend a workshop series with the Accent Consulting group, where they can actually complete an AFSL application.

“We recognise groups need to get their AFSL applications in fast. Equally, we understand it is not in the nature of advisers to be pro-active in dealing with bureaucracy — so we decided to bring the two together,” Williams says.

N-able AFSL seminars will be held in Melbourne, Sydney and Brisbane at the start of August.