1. Compliance
  2. Licensing and registration
  3. Applying for a financial service provider licence
  4. Authorised Financial Advisers

Authorised Financial Advisers

Page last updated: 25 Feb 2019

On this page

Apply to become an AFA

Making changes to your authorisation

Renewing your authorisation

Cancelling and terminating your authorisation

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.

Apply to become an AFA

Before beginning your application, please read the financial adviser authorisation guide and related resources listed below.

Making changes to your authorisation

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.

  • If you wish to add to your FAS scope you will need to submit a FAS scope variation application form AFAVAR 1.1
  • If you wish to change the period or the terms and conditions of your authorisation you will need to submit a variation application form AFAVAR 1.2
  • If you wish to add personalised DIMS to your FAS scope you will need to submit a DIMS variation application form AFADIMS 1.1. You can request this form by emailing us at AFAapplications@fma.govt.nz
  • If you wish to reduce your FAS scope then you can request this by emailing us at AFAapplications@fma.govt.nz

Complete the relevant form and submit it to the FMA at AFAapplications@fma.govt.nz with the required supporting documentation and the relevant application fee.

Renewing your authorisation

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.

Cancelling your authorisation

To cancel your authorisation please email the FMA at AFAapplications@fma.govt.nz

Terminating your authorisation

Your authorisation can be terminated for the following reasons:

  • the period of your authorisation expires
  • you ask the FMA to cancel your authorisation
  • you cease to be registered as an FSP
  • the FMA cancels or suspends your authorisation if you are no longer eligible to be authorised, or you have breached your obligations under the Financial Advisers Act, regulations, the Code or your terms or conditions.

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.