Financial Advice New Zealand Gets a Resounding ‘Yes’ From Founding Members

Thursday 27 July 17

The IFA, NZFAA and PAA each held Special General Meetings this week for members to vote on the establishment of Financial Advice New Zealand. All three member bodies decisively voted ‘Yes’.

The member-vote brought the development process to a close, and included:

  1. Approval to establish and commence operations of Financial Advice New Zealand as an independent entity.
  2. Approval to use existing funds to establish Financial Advice New Zealand.

The IFA, NZFAA and PAA all greatly appreciate the time and energy members have committed to the development process; a process that has delivered an exciting new body ready to be a driving force for the future of advice in New Zealand.

What’s next?

The Constitution of the new Association will be ratified by the Boards of the IFA, PAA and NZFAA, and by the Establishment Board of Financial Advice New Zealand. Once this is complete, the new body will be incorporated.

Over the past four weeks, an appointments committee has been working through over 40 applications for positions on the Establishment Board. The high-calibre of applicants highlights the credentials of the new body and we look forward to announcing the make-up of the establishment board at Conference on Thursday 3 August.

The Establishment Board will be responsible for getting Financial Advice New Zealand up and running. This will include developing the operational infrastructure and building the framework for the new body to deliver on it’s core objectives in the three areas: advocacy, standards and promotion.

A closing note

As one of our last actions as a Working Group, we’d like to again take the opportunity to thank everyone who has participated in bringing Financial Advice New Zealand to life. Your involvement has been crucial in defining how our new Association can best support advisers, advice and the New Zealand public.