How many responsible managers are required?

There is no limit on the number. However, at a minimum, an AFSL holder must have enough responsible managers:

• who collectively have sufficient experience in each financial service sought by the business; and
• who collectively can supervise the financial services undertaken by the AFSL holder. The size, complexity and nature of the business (i.e. whether it operates from multiple locations) should be considered when determining how many responsible managers are required.