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Advice
"Make or making a recommendation or give or giving an opinion in relation to acquiring or disposing of (including refraining from acquiring or disposing of) a financial product"
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Broker Services
“Receipt, holding, or payment of client money or client property by a person acting on behalf of a client.”
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Investment Planning Service
‘Designs, or offers to design, a plan for an individual that -
• Is based on, or purports to be based on, an analysis of the individual’s current and future overall financial situation (including his or her investment needs) and identification of the individual’s investment goals; and
• Includes 1 or more recommendations or opinions on how to realise those goals (or one or more of them).
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| Individual |
Category 1 products |
Authorised Financial Adviser (AFA) |
Broker |
AFA |
| Category 2 products |
Registered Financial Advise (RFA) |
Broker |
AFA |
Employee / nominated representative
of a QFE |
Category 1 products
(NOT issued by QFE)
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AFA |
Broker |
AFA |
Category 1 products
(Issued/Promoted by QFE)
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Category 1 adviser
(Same requirements as an AFA, but not registered or authorised)
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Broker |
AFA |
| Category 2 products |
Category 2 adviser
(Same requirements as an RFA, but not registered)
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Broker |
NA |