Sell Your AFSL
Sell Your AFSL.
Confidential, broker-led introductions to qualified buyers. AFSL Exchange has matched AFSL sellers with buyers since 2017, with an active book of domestic and international acquirers in FX, derivatives, and digital assets.
Why sellers come to us
Discreet. Specialist. With buyers ready.
Confidential by default.
No public listings. Buyers are vetted before any introduction. NDAs available before any disclosure of identifying information.
An active buyer book.
Eight years of matched transactions. Domestic financial services groups and international firms — particularly FX, derivatives, and digital asset operators — actively seeking Australian-licensed entities.
Specialist intermediary, not legal advice.
We facilitate the introduction and matching. You retain control of the deal. Independent solicitors, introduced if needed, handle documentation.
Exit scenarios
Common exit scenarios.
-
Retirement and succession
Most common in financial planning. A principal adviser approaching retirement, with a client book and authorised representatives that need a home. We match these practices with consolidators and growth-stage advice groups.
-
Strategic exit
A diversified financial services group consolidating its portfolio, exiting a non-core category, or repositioning around a different licence type. Often the licensee is operational but no longer central to the seller's strategy.
-
Capital realisation
A licensee held in shelf or near-shelf state, where the entity has a clean compliance record and current authorisations but limited trading activity. There's real value in the licence itself, particularly in FX, derivatives, and digital asset categories where new applications face long ASIC timelines.
-
Compliance burden
Smaller operators where the cost of maintaining the licence — RM appointments, audits, ASIC fees, professional indemnity, and ongoing compliance review — has overtaken the revenue the licence supports. Selling to a buyer who can absorb the licence into a larger operation realises value that would otherwise be wound down.
Valuation
How much is an AFSL worth?
There is no published price for an AFSL. Every transaction is priced against five variables:
- Authorisations held.
- FX, derivatives, retail vs. wholesale, market making, MIS, custodial services. The specific combination matters more than the category alone. Niche authorisations that take ASIC the longest to grant tend to command the highest premiums.
- Compliance history and conditions.
- A clean ASIC record adds value. Active conditions, particularly keyperson conditions or limitations on authorisations, complicate the sale and affect price.
- Trading business attached.
- A licensee with an active trading business, client book, and revenue stream is priced very differently to a licence-only shell. We work with both, and value them very differently.
- Keyperson conditions and RM continuity.
- Whether nominated Responsible Managers will transition to the buyer, or whether new RMs need to be sourced post-sale, materially affects deal price and timeline.
- Market demand.
- What buyers in your category are actively looking for at the time of sale. FX, derivatives, and digital asset categories are currently in highest demand from international buyers.
For an indicative valuation conversation, contact us. Discussions are confidential and obligation-free.
Our process
How a sale works.
- 01
Confidential conversation
We discuss your licensee, your authorisations, your timeline, and your expectations. No disclosure to any party until you authorise it.
- 02
Anonymised brief
We prepare a non-identifying summary — categories, authorisations, structural features — that can be shared with vetted buyers without revealing the seller.
- 03
Vetted introductions
We introduce only buyers who are pre-qualified for category, size, and capability. NDAs are signed before any identifying information is shared.
- 04
Offers and due diligence
Buyers submit indicative offers. Negotiations proceed through us, or directly between parties at your discretion. Due diligence is conducted by the buyer's advisers.
- 05
Independent solicitors handle documentation
We introduce independent solicitors experienced in AFSL change-of-control transactions. ASIC's change-of-control approval is sought. Settlement follows.
Typical end-to-end timeline: three to six months from initial conversation to settlement, depending on the buyer's due diligence pace and ASIC's processing time.
Our role
Plain about our role.
-
We don't provide legal, tax, or compliance advice. We introduce independent advisers for that work.
-
We don't act for both buyer and seller without full disclosure to both parties.
-
We don't list AFSLs publicly. Every introduction is private, vetted, and NDA-protected.
Selling your AFSL — common questions
How do I sell my AFSL in Australia?
You sell the company that holds the licence, not the licence itself. ASIC does not permit licence transfers between entities. The process involves identifying a qualified buyer, agreeing terms, completing a share sale, and obtaining ASIC's change-of-control approval. AFSL Exchange manages the introduction and matching; independent solicitors handle the transaction documentation.
How long does it take to sell an AFSL?
Typically three to six months from first conversation to settlement, depending on the buyer's due diligence timeline, ASIC's change-of-control processing time, and the complexity of the licensee being sold. Sales of operating businesses with client books tend to take longer than sales of dormant or shelf licensees.
Do I need a lawyer to sell my AFSL?
Yes. AFSL sales involve share sale agreements, ASIC change-of-control notifications, and warranties and indemnities specific to financial services licensees. AFSL Exchange introduces independent solicitors experienced in these transactions. We don't act as your legal adviser, and we don't recommend selling without one.
Will my sale be confidential?
Yes. AFSL Exchange does not publicly list licences for sale. Anonymised summaries are shared only with pre-vetted buyers, and identifying information is only disclosed after an NDA is signed.
What documentation do I need before approaching us?
For an initial conversation, none. We can scope the opportunity from a verbal brief. If a sale progresses, the buyer's due diligence will typically request the licence and authorisations, compliance policy framework, recent ASIC correspondence, financial statements, RM appointment details, and any client and authorised representative documentation. We'll guide you on what to assemble at each stage.
Can I sell just part of my AFSL, specific authorisations only?
Not directly. ASIC licences are issued to an entity, not as transferable individual authorisations. However, in some cases a licensee can vary its authorisations before sale, or a buyer can acquire the licensee and subsequently vary or surrender authorisations they don't need. We can discuss what's realistic in your specific case.
What happens to my Responsible Managers after sale?
This depends on the buyer's intentions and your RMs' willingness to continue. Some sales include RM transition; some require new RMs to be sourced by the buyer before settlement. Keyperson conditions on the licence may dictate the approach. AFSL Exchange can source replacement Responsible Managers where needed.
Get in touch
Start with a confidential conversation.
No commitment. No public disclosure. No obligation. If we're not the right fit for your sale, we'll say so.