Financial Advice Provider (FAP)
A business licensed by the FMA to give regulated financial advice to retail clients in NZ.
Definition
A Financial Advice Provider (FAP) is a business holding a Class 1 or Class 2 licence from the Financial Markets Authority (FMA) under the Financial Services Legislation Amendment Act 2019. Most NZ life-insurance advice is given through FAPs, with individual advisers nominated under a FAP licence. Confirm any adviser you work with is on the public FSPR register at fsp-register.companiesoffice.govt.nz.
See also
- Financial Markets Authority (FMA) — The NZ regulator that licenses and monitors financial-services providers, including life insurers and FAPs.
- Regulated financial advice — Personalised advice given to a retail client, regulated under the Financial Markets Conduct Act 2013 + FSLAA 2019.
Not personalised financial advice. Definitions are editorial framings of how the term is used across NZ life cover. Your specific policy wording is the authoritative source.