By Anita Frazer
FMA Head of Compliance Services
Thinking about applying for your FAP full licence? Here are some top tips for transitional licence holders wanting to make a successful application:
1. Get in early
You can start a draft application online and complete what you can, then save it. Where you find a gap, make a plan to address it, then come back and finish when you’re ready.
2. Choose the right class of licence
That way, you’ll only be asked the questions that are relevant for the way you do business. As a general indication:
- Class 1 will suit sole advisers
- Class 2 is for businesses that engage more than one adviser
- Class 3 is for large organisations that engage nominated representatives.
3. Download the FAP full licence application kit
It explains the questions you will be asked and tips and suggestions for how to answer them. Download the FAP full licence application kit PDF.
4. Aim for progress, not perfection
You know your business and customers best; write your answers in a way that helps us understand what works for you and how you currently operate.
5. We’re here to help
Contact us or email [email protected]
