Registering an FSP as an individual

Who should register as an individual

Anyone providing a financial service as an individual (including financial advisers and financial advice providers offering advice directly) should use this process to register.

Before you start

When you apply, you need to provide information about yourself and your business.

You should also have decided how you wish to run your business and, if a financial adviser, considered your options for engagement by a financial advice provider (FAP).

Fees for registering

You need to pay the following fees when registering as an individual FSP.

• An application fee of $300 (plus GST)
• An FMA levy of $600 (plus GST)
• $11.30 (plus GST) to cover the cost of your criminal history check, unless you have undergone a successful check within the last 36 months.

Applying to register

To apply to register online, you need to have:

• a RealMe® login
• an online account with us.

Follow these steps:

1. Log in.
2. Select ‘Register FSP (Individual)’ from the dashboard.
3. Complete your application, entering the required details, which include:
   • previous FSP numbers (if any)
   • any trading names used
   • other names you have been known by (maiden name or aliases)
   • confirmation that you expect to meet the required minimum threshold
   • whether or not you are a reporting entity under the Anti-Money Laundering and Countering Financing of Terrorism Act 2009
   • the month you will file your annual confirmation
   • your business and contact addresses
   • the financial services you will be providing
4. On the ‘Declaration’ tab, confirm that you are either the person named, or have been authorised by the applicant; and that you have read and understood the declaration.
5. Select the ‘Review’ tab to check the information you entered.
6. Confirm that the information you provided is true and accurate.
7. Click on ‘Submit’.
8. On the payment screen choose payment option and ‘process payment’ to complete your application.

Register an FSP - Individual External link

What happens next

Criminal history check

If required, a criminal history check will be carried out. This will take between 2 and 5 working days, and we will email you once the check has been completed.

If there are no problems, or a check is not needed – and you will be offering at least one non-licensed service – your registration is complete.

If you are applying for licensed services

If you have applied to only provide licensed services, you will need authorisation from either the Financial Markets Authority (FMA) or the Reserve Bank of New Zealand for at least one of those services before you can be registered.

After you have registered

Joining a dispute resolution scheme (DRS)

If you are offering financial services to retail clients, in most cases you need to belong to an approved dispute resolution scheme (DRS). You must update the FSPR with your DRS membership details within 10 working days of registering.

Linking to a FAP (financial advisers)

Registered financial advisers must be engaged by and linked to a licensed financial advice provider (FAP) within 3 months of their registration date. If the FAP has not linked to you within the required timeframe, you may be deregistered.

Filing an annual confirmation

As a registered financial service provider, you must file an annual confirmation in the month you have accepted, or nominated when you registered. We’ll send you a reminder when it is due.

Other guides in

Registering a financial service provider (FSP)

• Preparing to register as a financial service provider
• Reporting entities under the AML/CFT Act
• Registering an FSP as an entity
• Registering a financial service provider from overseas
• Amending, withdrawing or discarding an application
• Criminal history checks
• Code of conduct for financial advice services
• Requirements for financial advice providers and financial advisers

Other help topics