How to register as a financial adviser

Individuals can apply online for registration as a registered financial adviser (RFA) by visiting the FSPR website. The two prerequisites for registration are:

  1. If you intend to be a financial adviser providing a financial adviser service to retail clients, you must join an approved dispute resolution scheme (DRS). You will need to supply your DRS membership within ten working days of registration. The DRS membership number is usually included on every invoice, the agreement signed with the DRS provider, and the welcome letter (if any) sent by the DRS provider upon joining that DRS provider.

  2. Obtain your RealMe* logon (if you do not have one) to be able to complete the online process of applying for registration and, if applicable, authorisation. You need to be a registered user to use the online registration service. Log on with your user name and password, or obtain a user name and password if you do not have one. There is no joining or maintenance fee (at the time of writing) and you only pay for the registration or authorisation services you use.

During the registration process you will be required to select the type of financial service you wish to provide. Our guidance notes may provide assistance with the online registration steps and help you to select the correct type of financial service.

What are the fees?

Fees are collected by the Companies Office. Application fees below include GST and are subject to change:

Item

Cost

Application for registration as financial service provider or financial adviser

$345.00

Criminal history check (per person named in the application for registration)

$40.25

FMA levy

$529.00

Total

$914.25

The fee for the criminal history check may also be charged if subsequent checks are deemed necessary by the Registrar.

The consumer dispute resolution regime administration contribution is also payable annually by those financial service providers (FSPs) who are required to belong to a dispute resolution scheme.

An additional FMA levy, dependent on the class and category (within each class) to which the FSP belongs to, is also payable by the FSP at the time of providing annual confirmation. For more information see Adviser annual confirmation.