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To become an AFA you need to meet eligibility requirements, including minimum competence requirements and good character.
Before applying to become authorised, you need to:
Once you have completed the steps above, you can apply for authorisation online at the FSPR.
Before beginning your application, please read the financial adviser authorisation guide and related resources listed below.
After you have been authorised, you may apply to change the period, or the terms and conditions of your authorisation, or the FAS scopes you have been authorised for.
On 8 April 2019, the Government passed a new law changing the rules for how financial advice is provided to retail clients. As part of the transition rules, you do not need to renew your AFA authorisation before the start of the new regime.
If your expiry date is approaching, we will contact you with further information.
To learn more about the changes, see our new financial advice regime webpages.
To cancel your authorisation please email the FMA at AFAapplications@fma.govt.nz
Your authorisation can be terminated for the following reasons:
If we decide to cancel, suspend or amend the terms and conditions of your authorisation, you will be notified first and given the opportunity to make submissions. We will notify your change of status to the registrar. If your authorisation is cancelled or suspended because you are no longer eligible or you have breached your obligations under the Act, we may also make this information public.
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