We are all getting excited about a well-earned Christmas break. The team at Newpark have worked hard this year to bring you quality learning opportunities, regular licencing communications to help you understand your obligations, Headspace, Conference and a number of webinars to motivate your progress towards securing your future as an Adviser. All of this in addition to the regular work we have tried to sustain for you.
As I’ve heard many of you are leaving for your break soon, I wanted to take an early opportunity to say we have absolutely loved every minute of getting to know many of you and look forward to doing even more of that in the New Year.
We were delighted to welcome 16 Administrators to our Christmas-themed lunch and seminar. Even Santa showed up to hand out gifts! By all accounts the speaker, Jen, was well received offering some great time-cutting and life-simplifying tips. Our administrators are often the life blood of our business and we wanted to ensure they had a fun day of special treatment that honored that commitment.
Transitional licensing officially opened last week and FMA reports that 23 licences have already been approved – a third for individual FAP’s and the remainder for businesses.
There have been some early glitches and learning so I recommend you wait to avoid the early rush, but I would that you apply no later than the end of March 2020. The FMA have indicated that there may be a lengthy processing time so ensure you’re not caught out.
In 210 days the new legislation comes into effect on the 29 June 2020. Talk to us if you need help to get started, get your business ready, or just ask questions about the duties, obligations and general transactional things.
By 29 June 2020, anyone who gives financial advice must be engaged by a financial advice provider with a transitional licence issued by the FMA.
This means that you have time to get your structure right before you apply. You may find it useful to talk to a compliance consultant or lawyer about your structure first.
Last week’s update on tips for how to apply has now been posted on our licencing page on the website’
There is a Licencing page on our website with resources and FAQ’s: https://newpark.nz/licensing/
Our Newpark team is dedicated to 3 things:
- Keep you safe in a regulated environment
- Helping you grow your business
- Advocating for you with providers and lenders – AND regulators.