Application kits save money
By
Ben Abbott
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24/08/2010 5:02:00 AM
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1
comments
An ACL Application Kit from financial services training provider The National Finance Institute could save prospective licence holders from unnecessary costs during the transition to ASIC oversight, according to its managing director Peter Heinrich.
The NFI's step-by-step guide to obtaining a licence, launched at the time the legislation was introduced, is a do-it-yourself manual, that includes all the necessary information to apply for a licence.
Heinrich said using the "self-explanatory" and "easy to use" kit meant applicants could avoid paying an external provider between $3000 and $10,000 to apply and make their business compliance-ready.
Other kits available to brokers "appear to be cheaper", Heinrich said, but often require applicants to either buy more material or obtain more advice to comply with different aspects of the legislation.
The application kit, which sells for $957, covers all aspects of the business, includes a walkthrough guide to the process, the required policy templates, a summary business description template, guidelines on other information required in the application process, and a pre-application checklist.
Heinrich said templates can be used for other aspects of the business, such as the risk management plan, which can be used to cheaper rates on PI insurance coverage.
Related stories:
FBAA offers NCCP compliance kit
Latest Comments
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Michael on
24 Aug 2010 12:21 PM
We have purchased a NCCP from our supplier AAMC via the FBAA and found the toolkitt to be very helpful in obtaining our licence and also it has many other useful offerings, including CPD and electronic management of training. Priced at under $400, I am not complaining.