What qualifications do you need to be a financial adviser in New Zealand?
To give regulated financial advice to retail clients in New Zealand you must be a financial adviser engaged by a licensed Financial Advice Provider (FAP), or a nominated representative. The usual qualification is the New Zealand Certificate in Financial Services (Level 5), plus registration on the Financial Service Providers Register.
Sources: Financial Markets Conduct Act 2013, ss 388 and 431F; Tahatū: Financial adviser. Checked 18 October 2026.
What is a FAP licence?
Since 15 March 2021, providing a financial advice service has required a market services licence for financial advice, known as a FAP licence, unless an exemption applies. The Financial Markets Authority (FMA) issues the licences. Individual advisers don't need their own licence: they give advice on behalf of a licensed FAP, and a firm can hold the licence for all its advisers.
Source: Financial Markets Conduct Act 2013, s 388 (inserted by the Financial Services Legislation Amendment Act 2019).
What is the Level 5 certificate?
The New Zealand Certificate in Financial Services (Level 5) is the standard competence qualification for advisers. Tahatū lists it as required for financial advisers, financial investment advisers, insurance advisers and mortgage brokers. A new version of the Code of Professional Conduct for Financial Advice Services took effect on 1 November 2025. It recognises version 3 of the Level 5 certificate alongside version 2, and keeps the Level 5 outcomes as the minimum standard for designing an investment plan.
Sources: Tahatū: Financial adviser; MinterEllisonRuddWatts, updates to the Financial Advice Code (August 2025).
How long does it take to become a financial adviser?
Tahatū estimates two to three years of training to become a financial adviser. Many advisers also join Financial Advice New Zealand, and some go on to the CFP designation.
What do financial advisers earn?
See our sourced financial adviser salary guide, the mortgage adviser salary page and the insurance adviser salary page.
Checked against the linked sources on 18 October 2026. This is general information, not legal advice.