Objects in your future are closer than they appear

1 min read
November 7, 2021

Now is the time to address licensing.

In a recent press release, the Financial Markets Authority (FMA) stated that if you don't submit your full license application by 30 September 2022, they cannot guarantee that it will be processed or approved before the cut-off date of 15 March 2023.

This means you would be unable to operate as an adviser.

Start the process now to ensure you are not caught out by the rapidly approaching deadline and get your application in.

Many in the industry are fatigued. After several long months of pandemic impact and regulatory changes they are already looking to put 2021 behind them.

Whilst the temptation to leave it until next year may be appealing, time-poor advisers should also factor in:

The festive season and the associated drop in production, likely leading to;

A desire to focus on starting the year strongly and rebuilding depleted pipelines.

Delays caused by the sheer volume of advisers who need to tackle this project that will be seeking assistance from industry specialists at the same time.

The requirement for many to complete Level 5 qualifications - a time-consuming process in its own right.

Reviewing your business and applying for a licence can provide far more clarity, confidence and sense of direction than leaving it until the last minute.

Remember: Having your licence approved is simply Day 1. The benefit of the application process is that you will know where your strengths and weaknesses are, and have a plan to address them.

Proactive advisers are well-placed to take advantage of opportunities arising as the country exits the pandemic and economic activity rebounds. Ensure you are ready!

Help is readily available.

Licensing is a chance for the whole industry to embrace change, strengthen their businesses and enhance the professional standards and reputation of the industry. With 10 short months available, talk with the FSC, providers, BDMs and other industry bodies and make an informed decision to start the journey of licensing today.