Many of these advisers run the risk of not being able to prove competence, knowledge and skill by the required date. To help these advisers we are offering a no-obligation free check-up service so they can make an informed decision as to what qualifications they need to obtain and how best to get them.

Our research has identified five key categories that are the catalyst for advisers to obtain their Level 5 qualification:

• Those who were on the FSPR prior to 15 March 2021 and have not started or finished the New Zealand Certificate in Financial Services (Level 5) V2 or one of the earlier Level 5 qualifications.
• Those who have joined the industry since 15 March 2021 and must have the New Zealand Certificate in Financial Services (Level 5) V2 before they can provide regulated financial advice.
• Those who have completed only one strand of the New Zealand Certificate in Financial Services (Level 5) V1. These individuals need to complete the qualification before it expires in January 2023.
• Single adviser FAPs trying to meet the FMA recommended closing date for full FAP licences (30 September 2022). Single adviser FAPs are more dependent on the competence, knowledge and skill of the owner/adviser.
• Advisers within businesses which have identified the importance of broadening the advice provided to clients and now need to obtain a specialist strand to meet Standard 8 of the Code of Professional Conduct for Financial Advice Services. To obtain your free education check-up, simply contact us with the legal first name, last name, and date of birth of your adviser(s), and we will report back with the required information