The process for licensing varies depending on what type of financial adviser you are.
Authorised Financial Advisers (AFAs)
AFAs need to first register on the Financial Service Providers Register. They also need to be authorised by the Financial Markets Authority and meet eligibility requirements, including minimum competence requirements and good character. They must develop an Adviser Business Statement before applying for authorisation.
AFAs apply for authorisation online at the Financial Service Providers Register.
See the AFA application resources and templates page.
Qualifying Financial Entities (QFEs)
To become a QFE, a business must:
- demonstrate certain compliance capability through submission of an Adviser Business Statement and responding to enquiries from FMA
- apply to FMA for QFE status through the Financial Service Providers Register
- be registered as a financial service provider.
See more about becoming a QFE, including obligations, application resources and information for QFE Advisers
Becoming registered: Registered Financial Advisers and entities
Individuals and entities may register online as financial advisers on the Financial Service Providers Register. Financial advisers who provide services to retail clients will have to belong to a dispute resolution scheme, unless they are providing a service on behalf of someone else who is a member of a scheme.
See more about registration or visit the Financial Service Providers Register.
Brokers
Brokers need to register online on the Financial Service Providers Register.
Find out more about brokers.