APL development
and maintenance

We’d be surprised if any single isue has caused more consternation, frustration and conflict between licensees and their advisers over the past two decades than approved product lists (APLs).

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.