Transitional Licence Applications Latest

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The FMA says the total number of transitional licences approved or under assessment by the industry regulator to date stands at 846.

Within that figure are 5,855 financial advisers and 6,828 nominated representatives.

The FMA says 46% are single adviser businesses, that 49% of the total have between two and 20 financial advisers, and 5% of adviser business have 20-plus advisers.

It says 682 licence applications have been received from companies based in the North Island, and 164 from the South Island.

An FMA spokesman says anyone planning to apply for a transitional licence should do so sooner rather than later.