The FMA is hosting a series of free online workshops to help guide financial advisers through the Class 1 application process – one section at a time – over the course of six weeks.
This is part of the FMA’s wider campaign to encourage financial advice providers to complete their full licence applications by the FMA’s target date of 30 September.
The first session is on Tuesday 9 August and registrations can be made via Eventbrite at Breakthrough licensing for Class 1 applicants.
The FMA says its breakfast sessions will help make the Class 1 application process easier to navigate, understand and action. The sessions are designed to be practical and interactive with time for questions from attendees.
John Botica, FMA Director of Market Engagement says: “Previous FMA data shows that around half of New Zealand’s 1,835 financial advice providers are smaller firms run by individuals, and located right across New Zealand.
“They really are the backbone of the financial advice industry and these online sessions have been tailored to help them successfully prepare and apply for their full licence from wherever they’re based.”
As at 18 July 2022, 663 Financial Advice Provider full licence applications have either been approved or are in the process of being assessed by the FMA, representing 36% of the 1,835 Financial Advice Provider population. Of those full licences, 194 are Class 1 applications.