The FMA has reminded all financial advisers that they must link to the FAP that they are operating under. The FMA has noted that linking on the FSPR is a critical step in the new regime. This step must be completed before advisers provide advice to clients. Advisers that haven’t linked to their FAPs by 16 June 2021 may face deregistration.
“Financial advisers are being reminded to check their Financial Advice Provider has linked to them on the Financial Service Providers Register (FSPR).
This is a critical step under the new financial advice regime and must be completed before advisers offer advice to retail clients.
Advisers not shown as linked to a licensed Financial Advice Provider, or authorised body by 16 June this year may face deregistration if they offer no other services.
You can see full details of how to complete the linking process on the FSPR in this video guide and on the Companies Office website.”
In other news
Fidelity Life: Currently vacant Chief Distribution Officer (CDO) role has been renamed Chief Sales & Service Officer (CSSO). The role will include overseeing the application, renewal and service components of the customer journey.
Fidelity Life: Information on the new commission model and distribution agreements is set to be shared in the near future
Fidelity Life: Advisers are expected to complete their accreditation before June 2021 to continue to work with their agency