Ten financial advisors became authorised financial advisers in time for a new regulatory regime that came into force on 1 December.
About 5000 financial advisors must pass exams to become authorised financial advisors by 1 July, in order to give complex advice to clients.
Figures from the Securities Commission show so far 10 have achieved the qualification, but a further 112 are awaiting authorisation. A further 2000 are booked to sit the exams.
To date, the exam has a pass rate of 81%.
