New Zealand Legislation: Acts

9 What is financial adviser service

• (1) A person (A) provides a financial adviser service if, in the ordinary course of a business, A provides any of the services listed in subsection (3) to a client.

  (2) A person (A) also provides a financial adviser service if, in the course of business of a financial service provider registered under the FSP Act, A provides any of the services in subsection (3) to a client.

  (3) The services are—

  • (a) giving financial advice (see section 10):

  • (b) providing an investment planning service (see section 11):

  • (c) providing a discretionary investment management service (see section 12).

  (4) A person does not provide a financial adviser service for the purposes of this Act if exempted under section 13, 14, or 148 or in the regulations.

  Section 9: substituted, on 1 July 2010, by section 10 of the Financial Advisers Amendment Act 2010 (2010 No 40).