You don't need your own Australian Financial Services Licence to bring your investment management or corporate advisory offering to market. As an authorised representative, you provide your financial services under our licence. Providence Equity Holdings authorises those services and, as the licensee, monitors and supervises your conduct.
You build and run your own offering, brand and client relationships. The licence, compliance and governance infrastructure are ours. So you reach the market faster, without the cost, delay and ongoing obligations of standing up your own licence.
What is an authorised representative?
In Australia, anyone who provides financial services must either hold an Australian Financial Services Licence (AFSL) or act as a representative of a licensee. This is the requirement under section 911A of the Corporations Act 2001 (Cth).
An authorised representative is a person or company appointed by an AFSL holder to provide specified financial services on the licensee's behalf. Where a company is appointed, it's a corporate authorised representative (CAR). An authorised representative does not hold its own licence — it provides financial services under the licensee's AFSL. The appointment is recorded on ASIC's registers. The licensee authorises those services and supervises the representative's conduct within the agreed scope.
In practice: you keep your own business, brand and client relationships, while your financial services authorisation sits with us.
Operating under our licence does not remove your own obligations. As an authorised representative, you must:
- act within your authorised scope;
- comply with the financial services laws and our compliance policies;
- meet the applicable training and competency standards; and
- remain accountable for your own conduct.
We provide and maintain the compliance framework; you operate within it.
For many managers and advisors, it's a faster, more capital-efficient route to market than obtaining and maintaining your own AFSL.
New to AFSL licensing? Read our guide to the licensing pathways — holding your own AFSL versus operating under an existing one. If you're a corporate advisor, see do corporate advisors need an AFSL?
Authorised representative vs holding your own AFSL
Both routes let you provide financial services lawfully. The difference is in time to market, cost, and where the compliance burden sits.
| Factor | Authorised representative (via Provenance) | Holding your own AFSL |
|---|---|---|
| Time to market | Typically faster — you're authorised under an existing licence rather than applying for your own | An AFSL application is assessed by ASIC and can take several months, depending on completeness and complexity |
| Upfront cost | Lower — no licence application or responsible-manager build-out | Higher — application, legal, responsible manager and capital requirements |
| Compliance framework | Provided and maintained by the licensee | You build and maintain it |
| Responsible managers | Met at the licensee level | You must nominate and maintain your own |
| Ongoing obligations | Shared — you comply within scope; the licensee supervises | Full general obligations under s 912A rest with you |
| Control / independence | Operate within the licensee's authorisations and policies | Full control over your own authorisations |
The right choice depends on your stage, scale and long-term plans. Many managers start as an authorised representative and transition to their own AFSL as they grow.
How onboarding works
A structured process designed to get you authorised correctly the first time.
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Eligibility and scope assessment
We confirm your proposed services fit within Providence Equity Holdings' authorisations and the wholesale client framework, and map the authorisation scope you'll need.
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Application and due diligence
Fit-and-proper checks, identity and background verification, and review of your business and key personnel.
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Authorisation and ASIC registration
On approval, you're appointed as an authorised representative and recorded on ASIC's registers under AFSL 487419.
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Onboarding to the compliance framework
Policies and procedures, training and CPD, monitoring cadence and reporting obligations are set up so you're operating to standard from day one.
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Go live
You begin providing financial services to wholesale clients within your authorised scope, with ongoing supervision and support.
What's included
When you onboard with Provenance, you operate on the licensed framework of Providence Equity Holdings. This framework supports your compliance — it does not replace your own obligations as an authorised representative:
- Authorisation under AFSL 487419 within your agreed scope of services
- A maintained compliance policy and procedure framework
- Ongoing monitoring and supervision consistent with the licensee's obligations
- Regulatory reporting support and breach-reporting guidance
- A training and CPD framework for you and your representatives
Who it's for
Authorised representative onboarding suits investment managers, corporate advisors and family offices. It also fits emerging managers, independents, and teams spinning out or moving from another licensee — anyone who wants institutional-grade compliance without building it from scratch.
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Investment Managers →
Launching or relocating a strategy and needing to be in-market quickly.
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Corporate Advisors →
Providing financial services to wholesale clients under an established licence.
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Family Offices →
Leading their own deals and co-investing under licensed infrastructure.
Frequently asked questions
What's the difference between an AFSL and an authorised representative?
An AFSL is the licence itself, held by the licensee. An authorised representative is appointed by a licence holder to provide specified financial services on its behalf, within the licensee's authorisations, rather than holding a licence directly.
Am I still responsible for compliance as an authorised representative?
Yes. The licensee supervises your conduct, but you must operate within your authorised scope and comply with the licensee's policies and the law. Compliance is shared, not removed.
Can I provide services to retail clients?
No — Provenance's framework is for the provision of financial services to wholesale clients only.
How long does onboarding take?
It depends on the scope of authorisation you need and how complete your application is. We'll give you an indicative timeline during the eligibility and scope assessment.
Can I transition to my own AFSL later?
Yes. Operating as an authorised representative is a common stepping stone. Many managers build a track record under a licensee's framework and move to their own AFSL as they scale.