The results of our latest survey should be a wake-up call to the industry with only half of respondents saying they plan to apply for a FAP license before their transitional license expires in two years’ time.
Last week we asked ‘Do you plan to apply for a Financial Adviser Provider licence now the option is available?’
And while there is still one week to go before voting closes, the results so far are:
- Yes: 55%
- No: 32%
- Not sure: 14%
However, Katrina Shanks, CEO of Financial Advice NZ says the results don’t match what her organisation is hearing from its members.
“That’s not what we are hearing at all,” she says. “We are hearing that members are in the right structure, where they want to be, and that they will flip over to a full licence.”