We've got some big news here at Visia.
"We have been in business over nine years now, so it only made sense that the next step would be to apply for our own licence.
The Australian Securities and Investment Commission approved Visia's licence application, and it’s now official. The change went through 19th-20th of April and I’m so excited to share this important milestone with you." - Kora
What is an Australian Financial Services Licence (AFSL)?
In 2001, the Federal Government decided to create a system that licensed everyone in financial services under one AFSL system.
Banks and insurance companies must have a licence to make products and services.
At Visia, we have provided financial advice licensed as an Authorised Representative, dealing with various AFSLs, with Sentry Advice being the most recent. The AFSL system was created to make financial services easier for consumers. With ever expanding regulation and a top-heavy compliance approach, this has not had the intended outcome and most advice documents still exceeding 50 pages. That does not seem “easier” or clearer for clients to understand what we are trying to help them do.
What we want to achieve at Visia, under our new AFSL, is to go back to the core of the reforms; what is the law trying to achieve and how we deliver that to you, our client, efficiently, in a format that is easy to understand and, above all, putting your needs first. This will be at the core of how we will approach our licensing obligations and advice process.
Financial goals and objectives
The latest research by Professor Tim Kasser of Knox University on financial services shows a strong link between our financial goals and objectives, our happiness and our ‘intrinsic’ and ‘extrinsic’ motivators.
High extrinsic motivation can show in spending money on things that don’t maintain or improve one’s financial well-being like expensive cars, big houses and exotic holidays to please others and receive status and external validation.
High intrinsic motivation can show in the sense of connection with other people and the community and living a life based on what makes them truly happy and aligned with what’s important to them, rather than seeking the approval and acceptance of others.
Failing to meet extrinsic financial goals and objectives doesn’t impact on your well-being but failing to meet your intrinsic goals does.
So it’s important to us at Visia to check in with you on your financial goals and objectives and make sure we understand your extrinsic and intrinsic motivation to manage your finances to achieve the right results.
Thank you for being on this journey with us, and allowing the Visia Team to assist you in achieving your financial goals. Because of your support, we have been able to obtain our new ASIC approved AFS Licence.