Quick guide to the licensing process

1.       AFAs and Registered Financial Advisers must join a disputes resolution scheme (list of schemes: http://goo.gl/uGYJg) and register at www.fspr.govt.nz. The first step in registration is getting a NZ Government igovt login: you are automatically taken through this process.

2.       For AFAs, registration automatically continues to authorisation in the same process at www.fspr.govt.nz. You can complete both processes at the same time, or register first and return for authorisation later. The key items you must have ready before applying for authorisation are your ETITO number (see 4 below) and testimonials. Read the AFA Authorisation Guide at www.seccom.govt.nz/afa for full details.

3.       AFAs must register at www.afacompetence.org.nz to get an ETITO number and book for competence assessment. You need an ETITO number before you apply for authorisation, but you do not need to have completed your training and assessment. ETITO will automatically notify the Commission once you have completed your assessment requirements.

4.       QFE Advisers need do nothing other than comply with the requirements of their Qualifying Financial Entity (QFE).