There is concern that changes to the Code of Professional Conduct for Authorised Financial Advisers, due to take effect this year, may have slipped under the radar for AFAs amid the bigger review of the Financial Advisers Act.
The Code Committee revealed a draft version of the revised code in late January, after a request for submissions.
The new version tries to tackle the problem of advisers being restrained in offering limited advice to clients who do not need a full financial plan. Many advisers find the paperwork burden too heavy to make piecemeal advice worthwhile.
"Personalised advice on discrete issues [is] either proving costly to provide or not provided at all," the committee said...MORE»
Monday, October 12th, 6:00AM
Hundreds of people have made their views on the Financial Advisers Act heard.MORE»
Friday, August 7th, 6:00AM
SiFA has entered a searing submission in response to the Financial Advisers Act review issues paper.MORE»
Industry regulations are cumbersome and reduce the number of advisers operating in the New Zealand market, a group of Massey University academics say.MORE»
The FSC wants RFAs to choose: Operate at the level of AFAs or declare themselves salespeople.MORE»
The Financial Advisers Act (FAA) needs to stop thinking about advisers in terms of the products they deal in and start thinking about how they put them to work for their clients, the Institute of Financial Advisers (IFA) says.MORE»
A crackdown on adviser qualification requirements could prompt some to leave the industry, it has been claimed.MORE»
With less than two months left to make a decision, a number of advisers are still unsure whether they will offer discretionary investment management services (DIMS) as of the second half of this year.MORE»