Financial Services

For Individuals

  1. Home
  2.  » 
  3. Careers and Courses
  4.  » 
  5. Financial Services
  6.  » Financial Services For Individuals

Changes to the financial advice regulatory regime

You should be aware, that a review of the legislation affecting financial advisers has been completed. The reviewed legislation has resulted in a new code of professional conduct being developed. The new code specifies new minimum competency requirements.

The new code includes transition provisions for those who already hold the current qualification or are already undertaking the current qualification. This provision will help to ensure that qualification holders or current learners are not disadvantaged as a result of the review.

For Individuals seeking to complete the current Level 5 qualification

The Code of Professional Conduct for Authorised Financial Advisers, states that the New Zealand Certificate in Financial Services (Level 5), is the minimum competency standard required for people seeking authorisation. The qualification contains a number of optional strands in specialised areas, and the Code specifies which strands are required for particular classes of authorisation. Although the Code specifies competence alternatives for some of the parts of the qualification, for most people who want to become an Authorised Financial Adviser the Level 5 certificate is a compulsory requirement.

The qualification is delivered to individuals by a small number of authorised training providers, and we encourage those who are planning to become authorised to contact them.

The current training providers for the New Zealand Certificate in Financial Services (Level 5) are listed below:

Institutes of Technology and Polytechnics

Private Training Establishments

Important Information

The Financial Advice strand of the qualification can only be assessed through the Skills centrally administered assessment process. This includes a 1 hour multi-choice exam to demonstrate understanding of the legislative framework and the submission of a portfolio of evidence demonstrating professional advice process and application of legislative responsibilities.

It is important that candidates are aware of the very particular marking criteria which are used for the exam and the portfolio assessment. More information on these criteria can be found in our Financial Advice Strand Assessment Document.

The training providers that are Delegated Assessment Organisations can provide assessment services relating to the portfolio of evidence, but their outcomes are quality assured and reported to NZQA by Skills.

It is important that candidates are aware of the very particular marking criteria which are used for the exam and the portfolio assessment. More information on these criteria can be found in our Financial Advice Strand Assessment Document.

My Skills Portal
Before you can book an exam or a portfolio assessment you MUST create a Financial Services Candidate account on the My Skills portal. To register, just click the red button below and follow the prompts on your screen. Your My Skills account also creates the facility whereby Skills reports successful completion of ALL results in the New Zealand Certificate in Financial Services to the Financial Markets Authority.

For Individuals seeking to complete the new Level 5 qualification

The New Zealand Certificate in Financial Services (Level 5) has been updated, and version 2 is now registered on the NZ Qualifications Framework.

The qualification contains a number of optional strands in specialised areas. For most people who want to work as a Nominated Representative or a Financial Adviser competency at the level of the Level 5 certificate is a compulsory requirement.

The qualification is delivered to individuals by a small number of authorised training providers, and we encourage those who are planning to become authorised to contact them.

For Individuals – The qualification is delivered to individuals by a small number of authorised training providers, and we encourage those who are planning to become licensed to contact them.

The current training providers for the New Zealand Certificate in Financial Services (Level 5) V2 are listed below:

Institutes of Technology and Polytechnics

Private Training Establishments

For those seeking an alternative option

The code includes references to using alternative qualifications and experience to demonstrate competency at the level required. No details are available yet but you can contact us if you feel this may be relevant to you.