Transitional licensing and sole advisers

New regulations offer a levy relief for sole advisers, find out if you and your company are eligible.

If you’re an individual currently relying on the sole-adviser exemption, and you wish to operate in a similar manner in the new regime, you may be thinking about registering your company on the FSPR as a financial advice provider.

The registration fees for a company on FSPR include an FMA levy of $460.00 (plus GST). However, new regulations offer relief from this levy for those who:

  • rely on a sole-adviser exemption in the current regime, and
  • have registered a company on the FSPR between 25 November 2019 and 28 September 2020 and indicated the company’s intention to apply for a transitional financial advice provider licence or to be an authorised body under another financial advice provider’s licence.

To apply for the relief, you will need to fill out the 'Request for FMA levy relief' form after you have registered your company on the FSPR.

If your application is accepted, the $460.00 (plus GST) FMA levy should be reimbursed within 12 working days.

Request FMA levy relief

For information on how you may structure your business as a sole adviser, please visit the FMA’s website. You might also want to read our help guide on how register a company or entity on the FSPR.

Last updated 4 February 2020