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21 October, 2021
Why you should choose a self-licensed financial adviser
First Financial Team
Choosing a financial adviser can be a daunting task. You want to make sure that you find someone who has the right skills, is passionate about the finance industry and can help you achieve your goals… but it’s also critical that you find someone you can trust.
The financial services industry has been under a microscope for the last few years, and this has highlighted some disturbing truths about inappropriate professional behaviour. So, it can be difficult to know where you can turn for reliable advice.
Just because a financial adviser’s business card doesn’t have the logo of a specific bank or insurance company displayed in the top right corner, doesn’t mean they aren’t tied to a larger corporate financial organisation.
This is why you should be on the lookout for a self-licensed financial adviser. Being self-licensed gives the adviser a greater degree of autonomy and means they are more likely to work with you to understand your unique needs and financial goals, rather than try to sell you products that help them meet monthly targets.
What is an ASF licence?
An Australian financial services (AFS) licence is a legal requirement for anyone who offers personal financial advice at a professional level or is a general advice provider. ASIC states:
“An Australian financial services (AFS) licence authorises licensees to:
- provide financial product advice to clients;
- deal in a financial product;
- make a market for a financial product;
- operate a registered scheme;
- provide a custodial or depository service;
- provide traditional trustee company services.
An AFS licence is required to conduct a financial services business.”
ASIC is the governing body that oversees the financial services industry. It is responsible for issuing AFS licences and it determines eligibility by assessing a business “on their ability to meet and maintain basic standards such as training, compliance, insurance and dispute resolution.”
When a financial advisory firm holds an AFS licence, it means they are authorised to provide a range of financial services to clients.
Benefits of being self-licensed
Investigations into the financial services industry highlighted troubling practices in many of the major firms. This is where we recognise the benefits of being self-licensed. Here at First Financial, we have held our own AFS licence for many years and are proud of our ability to provide our clients with measured, tailored advice… free from larger corporate interests.
Some of these benefits include:
- our ability to control the direction of the business
- overseeing operations, nurturing our culture and developing our reputation
- flexibility and choice in relation to our recommendations, systems and support services
- not being subjected to dealer group restrictions
- improved outcomes for our clients.
We are also able to follow our unique Investment Philosophy. It is at the heart of everything we do and is designed to produce the results you need… putting cash in your hand. It has proven to be a robust model with clients protected during challenging times.
Talk to our team
Our focus is on being a client-centric firm, which means the relationships we share with you are valuable and engaging. Within our team we have an impressive range of financial services industry experience and specialist skills… enough to rival some of the largest firms.
Being self-licensed enables us to maintain our ‘small firm’ mindset and allows us to commit to providing recommendations in your best interests. This is rare within our industry, and we are fiercely proud of our autonomy.
If you’d like to find out more about how we can help you, please talk to a member of our team today. Read more Financial Industry articles.
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Larry and Virginia
Life Stage:
Newly retired
Background:
As retirement neared, Larry and Virginia were ready to enjoy travel, family, and freedom, without uncertainty. A friend recommended First Financial, and from the first meeting, they had a clear plan, a safety net, and people they trusted.
- Wanted to travel and enjoy retirement without second-guessing finances
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“We’ve travelled the world, Europe, Sri Lanka, Vietnam, without once stressing about the money. They made everything feel simple and gave us the confidence to live well. We feel secure because we know exactly where we stand, and that peace of mind means everything.”
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Lyn
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Retired widow
Background:
Lyn stepped into financial management for the first time after her husband's passing. With patience and care, First Financial supported her through grief, learning, and empowerment.
- Had never managed finances before
- Was overwhelmed after her husband’s passing
- Needed plain-English explanations and patience
- Sought emotional support and practical clarity
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- Rebuilt confidence with diagrams, stories, and reassurance
- Supported gradual decision-making around retirement
- Remained a trusted constant through major transitions
“After my husband passed, I was completely unsure where to start. First Financial gave me the space to learn, to ask questions, to grow confident. They drew a diagram that I still have. And now, I sleep well at night knowing I’ve got someone in my corner.”
CLIENT STORY
John
Life Stage:
Retired business owner
Background:
After decades of running a successful pharmacy, John sought financial guidance to simplify decision-making and support long-term planning.
- Navigated the sale of a long-held business
- Wanted simple, honest advice after burnout
- Needed a hands-on adviser he could talk to
- Desired financial guidance aligned with lifestyle goals
- Crafted a strategy that supports relaxed, post-work life
- Offered approachable, plain-English advice
- Maintained an ongoing, trustworthy relationship
- Provided flexibility with investments and cash flow
“I feel genuinely supported by First Financial. I can ask anything, and there’s no pressure, just clear advice and real care. The money’s growing, I’m not stressed about it, and I feel completely at ease for the first time. I don’t miss work, but I’d miss the support I get from First Financial.”
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Jan
Life Stage:
Retired
Background:
Jan's husband managed the finances until entering aged care. Jan gradually stepped into the financial picture with First Financial’s support.
- Needed financial guidance after business sale
- Lacked experience managing complex finances
- Sought consistent income and long-term structure
- Wanted a familiar, reliable relationship
- Provided long-term support through several transitions
- Helped structure income reliably for retirement
- Empowered Jan through education and reassurance
- Delivered calm advice through both grief and growth
“The money just comes in. I don’t have to think about it. And I know they’re always there. They’ve always been there in the background, just quietly making things work.”
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Tim and Adam
Life Stage:
Early retirement and working professional
Background:
When Tim received an overseas medical settlement, he and Adam had just 14 days left in a 90-day window. They needed clear guidance, fast. A referral led them to First Financial.
- Only two weeks left to meet urgent legal and financial deadlines
- Wanted to preserve capital while setting up income for the future
- Needed a plan that supported both retirement and ongoing work
- Hoped to find advice that felt personal, not transactional
- Managed every moving piece, from legal documents to super rollovers
- Designed a strategy that supported both Tim’s retirement and Adam’s career
- Offered clear guidance with steady follow-through, with no stress or pressure
- Built in ethical investing and flexibility, without sacrificing performance
“We’re in totally different life stages, but First Financial built a strategy that supports us both. From urgent legal steps to ethical investing, they handled every detail with calm, care, and real expertise. It’s financial freedom without compromise, and we couldn’t have done it without them.”
CLIENT STORY
Graeme and Craig
Life Stage:
Retired and semi-retired
Background:
Referred by friends helped through aged care, Craig sought secure financial guidance after inheriting funds.
- Invest inheritance securely without high risk
- Maintain a modest lifestyle with confidence
- Building trust for someone new to advice
- Accessible, personalised advice
- Provided a low-risk strategy with regular income
- Reassured with steady, market-aware updates
- Established trust through responsiveness and warmth
- Delivered calm, expert support through all transitions
“We feel very secure with First Financial, the income just comes in, and we know everything is being looked after. It’s not just safe, it’s smart. We’ve recommended them to others because we genuinely believe in the team.”
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