We’re excited to announce Direction Advice Group Pty Ltd has been granted it’s own Australian Financial Services Licence. The majority of individuals offering advice, whether that be your accountant, stock broker or your financial adviser are licensed via a third partly like a large institution such as AMP or one of the big four banks. They are then authorised to act on their behalf. With the licensee being accountable and not the adviser.  Unfortunately, a product distribution environment is often created (often unknown to the adviser) which is ultimately designed to drive more business and money to the ultimate owners, being the large banks or product manufacturers. Direction Advice obtained it’s own licence as we wanted to offer residents of Lismore, Ballina and Byron Bay, Tweed Heads and in fact all Australians genuine advice.

We obtained our own licence because we believe the only way to lift professionalism in the industry is for advisers to become self licensed. Doctors, for example are not licensed via   pharmaceutical companies, but most advisers are licensed ultimately via a product manufacturer required to utilize products on the product manufacturers approved product list. If the Doctor is found to be lacking they are stuck off the register, fined or banned. Advisers under the current model can now simply just change firms.  

Just because we’re not owned by a large bank doesn’t mean your money is not safe.  Being licensed means our heads are on the chopping block. Being licensed means we hold professional indemnity insurance, are members of an external complaints provider, our advisers are members of a professional body and also are externally audited. Most important of all our Directors are long term locals and caring for other locals, offering genuine client first advice.

Holding our own license has allowed us, if we were to offer you a financial product, to source the best products out there.