With MBIE’s announcement that the FAP licence regime will start on 15 March 2021, and the FMA having released details of its proposed three-class licence system, financial advisers will soon have to decide whether they work under someone else’s FAP licence or apply for their own (read Call For Transitional Licence Applications).
While there are plenty of companies already preparing to cover financial advisers with a FAP licence, other firms are offering to help advisers apply for their own one.
Thankfully, recent government announcements have helped clarify the next steps, meaning the key decision will soon need to be made by advisers. And while some advisers might remember that we asked this question last October, we thought we’d see if there is any change…
Do you plan to operate under your own FAP licence or someone else's?
- My own (80%)
- Someone else’s (16%)
- Not sure (4%)