There are essentially three main steps to moving your clients to your new AFSL on one of BT’s platforms
1. Establish a dealer group – on the platform for your new AFSL if it doesn’t already exist
2. Connect advisers – to the dealer group code for your new AFSL
3. Move clients – to your new AFSL
When it’s time to move your clients to a new AFSL on one of BT’s platforms there are a few key questions to consider and facts to check. We’ve listed some of these below.
1. Dealer group release letter
Obtain a letter of release from your previous dealer group in order to move clients to your new AFSL. If this is not possible there are alternatives provided in each of the guides.
2. Which clients?
Are all clients under your existing AFSL moving with you to your new AFSL or just some of them? If you’re moving some of your clients you’ll need to provide a list of the clients who should be moved.
3. Client fees
Will your client’s pricing change when you move them to the new AFSL? If the client’s fees are increasing you will need to provide us with client consent to move to the new pricing.
4. Client consent
Regardless of whether we require you to provide us with client consent to move them to your new AFSL, you will need to follow your own compliance requirements for obtaining client approval.
5. Are you moving multiple badges?
You will have to submit an application to us for a new dealer code for each badge.
6. Platforms Access
Who in your practice would you like to have access to the platform and should that access be read only or full access