Our latest poll asked when and if you would be applying for a transitional licence to operate as a financial advice provider under the new financial advice regime.
The FMA will open transitional licensing from 25 November 2019 but advisers have until 29 June 2020, when the new regime comes into effect, to apply.
However, the regulator has recommended applications be submitted sooner rather than later to provide more time for processing.
At the time of writing, our poll results showed that the vast majority of advisers intend to apply for a transitional licence (93 percent), with just seven percent indicating they wouldn’t be applying.
The results showed that many advisers are well-prepared to submit their application in good time. Of those applying, over half will apply this year – 26 percent on the day the FMA opens for applications and 30 percent before the end of 2019.
Meanwhile, 37 percent of advisers said they would be ready to apply before June 2020.
Are you intending to apply for a licence this year or next year? Or perhaps becoming a FAP isn’t for you?
Our poll still remains open for another week. Click here if you’d like to place your vote…