“approved financial adviser” means a person approved under section 11 to carry on financial advisory business;

 

“financial adviser’s representative” means an individual, however styled, in the direct employment of, acting for or by arrangement with an approved financial adviser, who performs for the financial adviser any services relating to financial advisory business; 

“financial advisory business” means any of the following: 

(a) analyzing the financial planning needs of a person relating to an insurance product; 

(b) recommending an appropriate insurance product to a person; 

(c) sourcing an insurance product from a licensed insurer for a person; 

(d) arranging of a contract in respect of an insurance product for a person; or

(e) such other business, service or activity in relation to a financial service as prescribed under section 3;