Glossary · regulatory
Licensed Financial Adviser
Also known as: LFA, Licensed FA
- Definition
- A Licensed Financial Adviser (LFA) is a firm authorised by MAS under the Financial Advisers Act (FAA) to provide financial advisory services to clients in Singapore.
LFAs may advise on investment products including life insurance, collective investment schemes, structured deposits, and securities, and may arrange product transactions on behalf of clients. They hold the MAS Financial Advisers Licence and employ Appointed Representatives whose registration appears on the MAS Representatives Register. Around 70 LFA firms operate in Singapore as of 2026. The Exempt Financial Adviser (EFA) framework is a separate, smaller cohort of firms exempt under specific FAA exemptions.
Source: MAS — Financial Advisers Act
Related
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