Financial advice providers who hold a transitional licence

All financial advice provider (FAP) transitional licences expire on 16 March 2023

The Financial Markets Authority (FMA) has set target dates for FAP full licence applications. These target dates are aimed at helping providers smoothly transition to full licensing before their transitional licence expires.

Financial service providers offering a financial advice service had until 15 March 2021 to apply for a transitional licence as a financial advice provider. After 2 years, all transitional licences will expire, and financial advice providers will be required to hold or operate under a full licence to continue giving regulated financial advice to retail customers.

There are different ways to be licensed as a financial advice provider (FAP), depending on how you want your business to be structured:

  • you can be licensed as an individual (holding a licence in your own name)
  • you can be licensed as a business (holding a licence in the company’s name)
  • a licence may also, if allowed in its conditions, authorise one or more named entities (as ‘authorised bodies’) to provide a financial advice service covered by the licence.

Any of these types of FAP can engage financial advisers.

The Financial Markets Authority (FMA) provides an online tool to help you navigate your options.

Target application dates

The FMA is accepting applications now for full licences.

Target application dates:

  • For Class 1 or Class 2 full licences, you should apply before 30 September 2022.
  • For Class 3 licence applications, the target date is 30 June 2022.

The FMA website has all the information you’ll need to apply for a full licence, including an application kit and a video tutorial.

All help topics

Getting started on the register 6 guides

Dispute resolution schemes (DRSs) 2 guides

If you provide financial services to retail clients, you must join a DRS within 10 working days of registering and keep your membership details up to date on the Financial Service Providers Register (FSPR).

Filing an annual confirmation 3 guides

To remain registered as a financial service provider (FSP) you must confirm your FSP's details and services each year. Find out how to file your confirmation online, or to change the month you do it

Managing your registration as a financial service provider (FSP) 6 guides

Deregistration and reregistration 3 guides

You can voluntarily deregister a financial service provider (FSP), or it may be deregistered by the Registrar. In some circumstances you can object to a deregistration, or apply to have the FSP reregistered.

Paying fees and levies 3 guides

If you're a financial service provider (FSP), you pay fees for some transactions, including registration. You also pay levies to the Financial Markets Authority (FMA). There are several ways to pay.

Managing your online services account 6 guides

Your FSPR online services account allows you to keep your FSP's contact and payment details up to date. From your account dashboard you can view and manage outstanding applications and tasks.