Progress Update

Wednesday 28 February 18

Over the last month, the project teams have made great progress across key initiatives. Particularly:

  • All four Member Advisory Committees (MACs) got together for the first time with great enthusiasm for their role and the opportunities ahead. Already, they’ve provided insightful input into the programme on behalf of the advice disciplines they represent, and we look forward to their continued contribution as we get ready to open our doors on 1st July and beyond.
  • The search is on for Financial Advice New Zealand’s CEO. This role is critical to realising Financial Advice New Zealand’s vision and to unleashing its potential. Appointing recruitment consultants Jackson Stone to carry out the search, ensures a thorough, robust and objective appointment process. The closing date for applications is the 11th of March.
  • Work is now under way to configure the new Member Management System. We aim to have the System ready for the beginning of May when we begin the on-boarding process for founding body members. This new system will provide a number of benefits for members including making it easier to engage with Financial Advice New Zealand on a day to day basis, more streamlined event management and online annual declaration and application.
  • We’ve developed a comprehensive communication programme, which you’ll begin to see rolling out over the next few weeks. Our aim is to keep members, media, groups, product suppliers and other key stakeholders informed about progress and where we are heading and offer opportunities to provide input and feedback.
  • We’ve approved plans for on-boarding members of the founding bodies during May and June. Look out for more details of this process, and what you need to do to get on-board, in our March update.

Finally, we’ve also developed and delivered our submission to the Select Committee on the proposed Financial Services Legislation Amendment Bill (or FSLAB as it’s become known). This is a combined submission on behalf of all of the Financial Advice New Zealand founding bodies and represents an important step in the evolution of Financial Advice New Zealand as a voice for professional advisers. We’re generally supportive of the objectives of MBIE’s review of financial adviser regulation, but we raised a number of concerns about the proposed changes, which we would like to see addressed in the final legislation. You can find a copy of our submission at the following link: Click Here

Over the next few weeks we’ll be presenting at the IFA/PAA Professional Development Days around the country; working on the conceptual framework for the Quality Service Mark with the aim of announcing more information late March; building and testing the Member Management System; finalising the professional development strategy; soliciting input from the MACs on the final draft of by-laws; and further developing the operational infrastructure of the new association.

As you can see, this is an extremely busy, and exciting, period and we look forward to sharing further progress with you in March.

In the meantime, feel free to get in touch if you have any comments, questions or ideas.

Kind Regards,

Sue Brown
Chair, Financial Advice New Zealand.