Financial advisers can expect a timely reminder about the new financial advice regime from the Companies Office and FMA this month. Reminder emails are being sent to every AFA and RFA registered on the FSPR who has not yet applied for a transitional licence.
From Monday 15 March 2021, anyone who offers financial advice to retail clients must either hold a transitional licence, or be engaged by a licensed financial advice provider. As at 27 September 2020, an estimated 7315 financial advisers had been covered under a Financial Advice Provider licence – either their own or someone else’s.
If you’ve still got a licensing decision to make, check the steps you still need to take by visiting the Financial Advice Provider or Financial Adviser pages on our website, then make a plan to get it done soon, so you can head into summer knowing your future is sorted.
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