The clock is ticking toward de-registration for thousands of advisers, warns Katrina Shanks of Financial Advice NZ.
In a note to her organization’s members Shanks says: “We have recently been informed that only 50% of financial advisers have been linked to a FAP.
“From 15 June, if any advisers are not linked to a FAP the Companies Office will start the process of de-registering them.”
While 65% of Financial Advice NZ’s 1,635 adviser members are linked to a FAP, Shanks says the remainder are being contacted with details of their next steps so they can consider their options.
For more information see the Financial Advice NZ’s FAP website and watch the video below.