Maintain (update) or correct a financial adviser's details
Australian financial services (AFS) licensees must keep their information on the Financial Advisers Register about financial advisers (including provisional financial advisers and time-share advisers) they have authorised accurate and current.
Financial advisers are responsible for letting their AFS licensee know when their details have changed.
When a financial adviser's details change, the AFS licensee must update the Register within 30 business days.
Update a financial adviser's details
Financial adviser details that may need to be updated or changed on the Financial Advisers Register include:
- name (for example, due to marriage or name change)
- professional memberships
- financial product authorisations.
For a full list of details that must be included on the Register, including a list of approved qualifications and training courses, see Information on the Financial Advisers Register.
Follow these steps to update a financial adviser's details on the Register.
1. Check you are authorised to update the Register
You are authorised to update the Register if you:
- have your own AFS licence
- manage an AFS licence for a business, or
- have been authorised to update the Register by an AFS licensee.
You need to be set up in ASIC Connect to update the Register. ASIC Connect is our online service for notifying and updating details with ASIC.
For more information, see Who updates the Financial Advisers Register.
2. Collect the information you need
You will need to provide details for each financial adviser you want to update, such as:
- the financial adviser's representative number
- address, email address and phone number
- role type (financial adviser, provisional financial adviser or time-share adviser)
- qualifications and training details.
For a full list of details that must be included on the Register, see Information on the Financial Advisers Register. Documentation is not required when you update a financial adviser's details, however, you must declare that the information you have provided is complete and accurate.
3. Decide how you will pay
Fees apply for making changes to the Register. You can choose to pay either:
- online using a credit card, or
- later by BPAY or invoice.
The cost depends on how many financial advisers' details you are updating. For example, updating two financial advisers incurs two fees. Late fees may also apply.
4. Log in to ASIC Connect
Log in to ASIC Connect and follow the prompts.
See How to update financial adviser details for step-by-step instructions.
Correct a financial adviser's details
AFS licensees can request a correction to a financial adviser's details on the Register. For example, if there is a typographical error or a mistake in their:
- date of birth, or
- place of birth.
If the capacity in which the adviser can provide tax (financial) advice services is incorrect, and this cannot be updated by submitting a maintain transaction, the AFS licensee may request a correction to this information by submitting this forma correction request via ASIC Connect.
We may contact the AFS licensee for evidence to support the request, for example, a driver licence or birth certificate. We will contact the person who requested the correction with the outcome of their request.
See How to request a correction to authorised representative and financial adviser details for step-by-step instructions on how to do this.
Report inaccurate information on the Register
If you are concerned about the details of another financial adviser on the Register, see what you should do