Joining the IFSO Scheme - mySolutions group

We warmly invite members of mySolutions to consider the many benefits of being an IFSO Scheme Participant, and enjoy the mySolutions group rate for annual IFSO Scheme levies.

The IFSO Scheme offers Participants a wide range of unique services and valuable resources including:

  • Discounted access to the Massey University short course in Complaint Response and Management, with an early-bird saving of $300+GST for Participants.
  • A database of Case Studies to assist you to manage claims and complaints and assist customers understand complaint decisions.
  • Free professional development from the IFSO Scheme, including webinars, Coffee Time and webcasts.
  • Complaint Response Toolkit providing access to a range of guides, registers and policy templates and more.
  • Vulnerability and Threats of Harm Toolkit to assist you with clients who are in vulnerable circumstances.
  • A webinar library for professional development and training across an extensive range of topics and technical skills.
  • Complaint data and insights to help you understand root causes, trends and common issues in complaints involving FAPs
  • Free 0800 number support for complaint process advice.
  • Fixed capped complaint fee of $1,800+GST, only paid on IFSO Scheme acceptance of a complaint for jurisdiction.

Step 1: Apply to join using the online application form.

Choose "Company" application type.

Step 2: When your IFSO Scheme membership is confirmed and you are issued your IFSO Scheme Participant number:

  • notify your current DRS of your resignation from their scheme;
  • update the FSPR to show the IFSO Scheme as your DRS;
  • update your website; and
  • update your client disclosure documents (templates are supplied).

Step 3: If you have more than one Financial Adviser engaged by your FAP, use the online application form to add them to the FAP record.

Choose "Individual" application type.

When your membership is confirmed:

  • Your FAP (and all engaged Advisers) immediately enjoy all the benefits of IFSO Scheme membership;
  • Any existing complaint, accepted by your prior DRS, will be completed by that DRS;
  • Any complaint received after you become an IFSO Scheme Participant will be investigated by the IFSO Scheme.

The IFSO Scheme will invoice FAPs in the mySolutions group in July 2023.

Your annual levy will be calculated on the number of Financial Advisers (and Nominated Representatives) your FAP engages as at 1 July 2023 at the mySolutions group rate.

The mySolutions group rate is calculated using the total number of advisers in the mySolutions group as at 1 July 2023, that are eligible to be levied by the IFSO Scheme.

DRS schemes annual levy year is 1 July to 30 June. The IFSO Scheme will not charge your FAP in the 2023-24 levy year for any period you have notified us, as paid to another DRS as part of your termination notice period.

New Advisers that join your FAP, after the July levy has been paid, will be charged for that portion of the levy year that remains.