By March 2023 all Financial Advisers are required to belong to a Financial Advice Provider (FAP) if they intend to practice in New Zealand.
These new regulations aim to create a robust financial industry in New Zealand with Providers offering an improved service to their clients.
Cole Murray has seen the opportunity that the Financial Markets Authority (FMA) is planning by introducing the license. Over recent months we have been refining our processes and systems and submitted our application
to the FMA.
We recently received advice that our application is successful.
The project has been really beneficial for us. We have reflected on our business, and looked to where we want to head in the future. This reinforced our passion to provide customised financial solutions that delight our clients with their simplicity. We want to keep growing in order to help more people on their financial journey.
“This will streamline the process for our clients. It will enable our clients to fully understand their financial needs and to be able to utilise all the services that Cole Murray offer. Although a challenge, there are so many positives that will come with the new regime.”
Professional Development
We have a growing team with many years of experience. Our FAP will be continually updated and all staff will work on their own professional development. Our team will create a personal development plan each year to support their learning.
We don’t just want our team to be competent, we want them to excel.
Set industry-wide standards for conduct and competence
A number of our team are finishing off their study to gain their Level 5 qualifications by March 2023. We are proud of them as they juggle work, life and study.
The new changes being introduced ensure the conduct and client-care obligations of Financial Service Providers and the regulation of financial markets remain fit for purpose. With our Advisers all holding at least a New
Zealand Certificate in Financial Services (Level 5), or equivalent, ensures we comply with another element of the new regime.
Just another way that everyone receiving advice in New Zealand will benefit from the new requirements.
Want to work with us?
We have been through many hurdles and barriers that gaining our own FAP has thrown us. We understand that some Advisers might not be able to achieve this on their own. We are open to any genuine conversations from
advisers that may want to join our business and work under the Cole Murray FAP.
If you would like to talk further, get in touch with Will Vermeulen on 06 870 7050 or Will.V@colemurray.co.nz.
