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Thank-you for your question.
We are quite familiar with this type of service and you will either require an AFS Licence to provide personal financial product advice to the relevant platform provider (i.e. Powerwrap) or be appointed as an authorised representative under the AFS Licence of another person (which could be the relevant platform provider).
The type of authorisation required under an AFSL Licence or representative appointment is dependent on a range of factors, including any agreements in place with the relevant platform provider. We strongly recommend you seek appropriate legal advice before providing a model portfolio service.
At Holley Nethercote, we provide expert and practical legal services and would be happy to assist. Please feel free to contact our financial services team if you require further assistance.
Author: David Court (Partner)
Co-contributor: Diana Lawrence (Law Clerk)