For many advisers the restrictive nature of an APL has led to a change of licensee as they have sought more flexibility in advising their clients – for others it has been the primary driver of their desire to become self-licensed.
Either way, getting your APL right to enable your advisers to choose from a broad range of financial products and services to best suit their clients’ goals and objectives – rather than being limited to a particular restrictive product list – is crucial to a successful self-licensed practice or boutique licensee operation.
The construction and maintenance of your APL also needs to consider the interplay with professional indemnity insurance, ensuring you can achieve and maintain cover – and that your policy will respond if things go awry.
Our team has decades of experience in the development and maintenance of both list-based and principles-based APLs for both wholesale and retail advice situations – and is experienced in negotiating APL provisions with underwriters.
We offer a templated principles-based APL to support your launch with you and your team then assuming responsibility for its evolution – or you can choose an ongoing APL subscription that includes regular updates to address legislative and regulatory, and operational and market force impacts; and provides discounted access to leading research house reports.
If you prefer a list-based approach – or your PI insurer insists on this approach – we can help you build an initial APL and APL policies and procedures tailored to your approach.
Our team is also available to convene, chair and/or attend and minute cyclical investment and research committee meetings on a time-and-attendance basis.
Our APL development and maintenance services are available to practices seeking to become self-licensed and to existing self-licensed practices and licensees.Discover more today