Strong turnout and contribution

Sunday 12 February 17

Eleven events nationwide, hundreds of advisers, and hours of discussion – the Financial Advice New Zealand Adviser Forums drew to a close yesterday afternoon.

“We had one simple but crucial objective going into the Adviser Forums – to generate plenty of open discussion, and to understand the many views and suggestions offered by all types of advisers,” says Fred Dodds and Rod Severn, Financial Advice New Zealand Working Group.

“We’d like to make a point of thanking everyone who attended – every Adviser Forum produced a great many number of insights, and importantly well-considered suggestions and views on the future role and focus of Financial Advice New Zealand. The amount of information from advisers we now have to work with is both vast and well-thought-out.”

The Adviser Forum Discussion Guide will be available to everyone by clicking here until Friday, 17 February 2017 for those who were unable to attend or for attendees who would like to add additional comments.

“It would be hasty to suggest specific outcomes of the Adviser Forums before we work through the body of comments that we have gathered, but some common themes certainly have emerged. Attendees were very clear that we need to redefine relevance – that Financial Advice New Zealand must put current structures in the past, take a good look at the various participants in the advice sector, and clearly define where it can add the most value in today’s world.”

“We discussed the various roles the Association could play, of which advocacy / lobbying, public awareness, and standards were central to many views and suggestions offered by advisers.”

“We talked about how Financial Advice New Zealand could increase public confidence in advice and access to advisers. On the subject of trust, we talked about whether membership to Financial Advice New Zealand should signify certain adviser qualities, and if so, what would need to underpin that. We talked about the role of a required set of ethical standards in building reputation and public trust.”

“We talked about how Financial Advice New Zealand could be structured to maximise the potential of one big body representing advice, while ensuring the specific needs of different types of advisers are cared for by representatives in those areas. We talked about the importance of building a seamless structure that ensures swift action, unencumbered by too many layers.”

“We talked about whether Financial Advice New Zealand should play a new role in career development, with a focus on creating pathways and building profile with Universities – to be a conduit for new talent to the industry. We talked about the difference between providing or guiding new and existing advisers in their professional development.”

“Eleven events and hundreds of advisers generated a huge amount conversation on many topics – it was a highly successful way for us to hear from many advisers, and to have the in-person opportunity to understand different views and suggestions. Thanks again to all who attended,” says Dodds and Severn.

The Financial Advice New Zealand Working Group anticipates the Consultation Stage will be completed by 7 March, at which time all views and comments from advisers, providers and others will become the basis for shaping the new body in the 20 working-day Planning Stage.

Other news from February 2017

Missed the Adviser Forums?

Sunday 10 February 17

There's still time to share your views and suggestions. View the Adviser Forum Discussion Guide and share your thoughts online, open until 17 February 2017.

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Consultation: A focus on advocacy

Sunday 27 February 17

Advocacy (lobbying) and Regulation emerged as key areas of focus during the Adviser Forums and other Consultation events. Below are some of the many views expressed. While the Consultation Stage has concluded, we welcome any additional feedback and views.

Read More