Member Advisory Committees

Friday 01 December 17

In October, we announced the establishment of Financial Advice New Zealand as the new professional body for New Zealand’s financial advisory sector.

We also previewed the member advisory committees that will give voice and representation to specific sectors of the industry: lending, risk insurance, investments and financial planning. Each advisory committee will have a chair and two or three member representatives who will represent the interests of Financial Advice New Zealand members in that sector.

We are now inviting interested and qualified people who want to be part of the future of their profession to apply for a role in one of the member advisory committees. These are voluntary positions and are effective for two years. You can apply by sending your resume and a short letter highlighting what you bring to the role to macs@financialadvice.nz. Applications close at 5pm on Wednesday 13 December 2017. All applicants must be current members of one of the founding bodies.

The Financial Advice New Zealand establishment board will make the final decision on the make-up of the four committees by Friday 22nd December 2017. Appointments will be publicly notified via media release at that time, and all the committees will aim to meet for the first time on or before Thursday 1 February 2018.

The Member Advisory Committees will provide a strong member voice and representation for each of the key industry sectors which make up the membership of Financial Advice New Zealand. The committees are a crucial element of our focus on standards, advocacy and promotion of advice to the New Zealand public for the mutual benefit of advisers, consumers and other stakeholders. People in specialist advisory fields are working in a fast-developing environment, and the committees will provide an extra level of knowledge and support for the association.

You can find the terms of reference for the member advisory committees by clicking here.

The purpose of the committees is to provide a voice for Financial Advice New Zealand members “who share a particular interest in a specialist area of advice and also to provide the Board with technical support, guidance and advice on key issues.”

Forming the member advisory committees is only one of the steps in our six-month plan. As previously outlined, we are on track to unveil plans for a new quality mark for financial advisers, together with our new website, during the first half of 2018; the organisation will open for membership applications from members of founding bodies on 31 March 2018; and formal operations will commence on 1 July 2018.

Thank you for all the feedback we have received to date; we are listening to and incorporating advice on our plans from all interested parties, including members of founding bodies.

Sue Brown
Chair, Financial Advice New Zealand