Diverger has acquired AFSL Compliance, a licensee support business, expanding its service offer with a focus on delivering market leading solutions to self-licensed firms.

While Diverger already provides services to both licensed and self licensed advice firms, this acquisition further delivers on its strategy to grow the services it provides. 

“AFSL Compliance has built a  successful, repeatable and valued service for self-licensed firms, and we are pleased to be providing support to their clients,” said Nathan Jacobsen, Managing Director, Diverger. “Advice firms are growing strongly and looking for more services to help them scale, whilst maintaining choice around how they operate.” 

AFSL Compliance was established in 2010 and provides support to advice firms which either hold their own Australian Financial Services licence or are looking to obtain their own licence.  Over the past 12 years, AFSL Compliance has built a reputation as a leading provider of compliance services for self-licensed firms.  It now works with 160 of Australia’s most respected licensees and their financial advisers.  

“Our service offering has great synergy with Diverger in terms of offering advice firms what they need and want in a flexible manner.“ said Stewart Chandler, Founder and Owner of AFSL Compliance. “We are thrilled to be partnering with Diverger and to have the opportunity to service more advice firms.” 

The self-licensed advice market of privately owned firms made up of 1-10 advisers, is now the largest and fastest growing segment in the advice industry, accounting for 25% of advice firms in June 2022.1