Who needs RG 146 Compliance

Our Diploma of Financial Planning FNS50615 is ASIC RG146 registered and is considered the minimum entry requirement for those new to the financial planning industry seeking to be RG146 compliant or transferring to a position where they are required to provide advice to retail clients. It is an ASIC requirement that financial planners complete the minimum skills and knowledge components of the Diploma of Financial Planning before receiving authorisation to provide personal advice in the areas of investment planning, superannuation and insurance with consideration for the client's needs and risk profile.

RG146 Professionals

  • Financial Planners
  • Para Planners
  • SMSF Advisers
  • Estate Planning
  • Property Advisers
  • Stock Brokers
  • Auditors
  • Accountants
  • Lawyers
  • Bank Staff
  • Financial Planners
  • General Insurance Brokers
  • Investment Advisers
  • Life Insurance Brokers
  • Residential Mortgage Brokers
  • Commercial Brokers
  • Property Promoters
  • Real Estate Agents
  • Superannuation Agents

The financial services industry is constantly evolving in that a wider variety of practices are becoming multi disciplined with professionals delivering a broader range of financial advice to their clients. Unfortunately many professionals are not aware that advice is being provided to their clients in breach of regulations.

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When RG 146 Compliance issues arise?

The recent demise of stock broker and securities lending firms Opes Prime and Life Capital highlights the danger of non compliance. Increasingly professions are being subjected to financial services industry compliance and therefore must satisfy ASIC RG 146 compliance training if they advise:

  • regarding issues and implications of gearing or depreciation of investments
    • via negative gearing
    • via margin lending
    • via securities lending
  • or obtain a referral fee for referring a client to an insurance agents, specialist or financial planners
  • or discuss investment holding ownership structures
  • or investment (securities, derivatives)
  • or reinvestment of income
  • on superannuation issues or supernnuation products
  • sell or procure the selling of insurance products including
    • income protection
    • trauma insurance
    • life insurance

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The Corporations Act through the introduction of the FSRA requires that all individuals that deliver personal advice or general financial product advice to retail clients need to satisfy the minimum training standards.

Stock Brokers

If you work for stock broking firm and deliver advice based on a script approved by, or under direct supervision of a person that holds RG 146 compliance but wish provide personal advice then call IBI now.

All client service representatives require the necessary training to perform their functions so ensure they understand the limits of the financial product advice permitted to deliver to retail clients. Please discuss these issues with IBI advisers to better understand the training required for stock brokers, call centre or front desk customer service staff.

Auditors/Accountants

Many accounting firm are expanding into financial planning and wish to deliver advice to their existing client base, and it is therefore necessary to be become RG 146 compliant.

Bank Staff / Building Society Staff / Credit Union Staff

All professionals who provide incidental personal advice or general financial product advice to retail clients need the minimum training standards as outlined in ASIC Regulatory Guide 146.

Therefore if you are currently

  • under supervision of a compliant manager and
  • cannot deviate from the within the confines of a script and
  • provide more than only factual information

and want to deliver recommendations or opinions on deposit products or other related financial products then please call IBI.

Financial Planners / Para Planners

All Financial Planners are required to complete full ASIC RG146 / PS146 compliance by the 11th March 2004. IBI RG 146 compliance also delivers the Diploma of Financial Services (Financial Planning) qualification that is highly regarded to further enhance your career in the industry.

General Insurance Brokers

If you become fully RG 146 compliant our Diploma of Financial Services (Financial Planning) qualification allows you to diversify and source other revenue opportunities by providing a broader range of advice in your clients.

Investment Advisers

If you become fully RG 146 compliant our Diploma of Financial Services (Financial Planning) qualification allows you to diversify and source other revenue opportunities by providing a broader range of advice to your clients.

Life Insurance Brokers

If you are:

  • referring your clients to third parties such as mortgage brokers, accounting firms, or tax specialists;
  • delivering advice to your clients in addition to Life insurance;
  • losing income opportunities by not leveraging your client relationship by not providing a one-stop-shop;
    • wish to discuss or offer your clients superannuation products and
    • advise of tax benefits in relation to general insurance

By can overcome these issues by becoming RG 146 compliant. Our Diploma of Financial Services (Financial Planning) qualification allows you to diversify and source other revenue opportunities by delivering a broader range of advice to your clients.

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Mortgage Brokers

If you become fully RG 146 compliant our Diploma of Financial Services (Financial Planning) qualification allows you to diversify and source other revenue opportunities by providing a broader range of advice in your clients. This includes property ownership structures or selling insurance products.

Property Promoters

If you arrange or organise property or share seminars for promotion purposes, discuss legal ownership structures regarding financial products, or deliver opinions or recommendations or comparisons between a range of any financial products then call IBI.

If you become fully RG 146 compliant our Diploma of Financial Services (Financial Planning) qualification allows you to diversify and source other revenue opportunities by providing a broader range of advice in your clients

Real Estate Agents

If you deliver incidental personal advice or general financial product advice to retail clients you should become fully RG 146 compliant. Our Diploma of Financial Services (Financial Planning) qualification allows you to diversify and source other revenue opportunities by providing a broader range of advice in your clients.

Superannuation Agents

If you deliver advice on and deal with superannuation funds or subscription to super funds or deal with issues regarding wills, estates and managed funds of retail clients you should become fully RG 146 compliant. Our Diploma of Financial Services (Financial Planning) qualification allows you to diversify and source other revenue opportunities by providing a broader range of advice in your clients

Timeshare Advisers

Timeshare is now a financial product and you need to be RG 146 complaint. Our Diploma of Financial Services (Financial Planning) qualification allows you to diversify and source other revenue opportunities by providing a broader range of advice in your clients.

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