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The Wright stuff

New IAFP chairman Denys Wright outlines his number one priority for the association.

Wednesday, May 6th 1998, 12:00AM

by Philip Macalister

Promoting financial planning to the public is the number one issue for new Association of Investment Advisers and Financial Planners (IAFP) chairman Denys Wright.

Wright took over the reigns of the IAFP recently after former chairman Rodger Spiller and three other committee members resigned over issues to do with the association’s proposed merger with fellow advisory group the Insurance and Investment Advisers Association (IIAA).

Wright says the merger is "incidental" to the running of the association at present.

A merger committee is currently negotiating a proposal with the IIAA at present, and others within the IAFP board are scoping out other options.

Wright says he is standing back from the negotiations, unlike his predecessor, and will take a position once the proposal has been negotiated.

"I will reserve my position on where I stand, ultimately," he says.

However, he believes a stronger body representing advisers would be beneficial to the industry and the public.

"We are better to have one strong body, than several fragmented bodies," he says.

He also says that over time the educational standards of professional bodies rises.

Wright acknowledges some people are opposed to the idea of a merger, and if it goes ahead it may weed out some of the advisers who are not committed to improving the overall professionalism of the industry.

The goal at present is to promote financial planning, in particular Certified Financial Planners (CFP).

Wright is a planner with Spicers, and a partner of chartered accountancy firm Spicer and Oppenhiem in Wellington.

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