News Round Up: July 18
Stevens follows Moses; Review of practice standards; More market commentary; Why Fish! is good.
Monday, July 18th 2011, 5:00AM 
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Last week we reported that Roger Moses has resigned his life membership of the IFA . We understand that Gary Stevens too has resigned. While Stevens was not charged in the Nathans court case, his role with the company did get a mention from the judge.
Review on practice standards
The Institute of Financial Advises (IFA) says it is appropriate to look at its practice standards in 2011, especially given the impact of the FAA and the Code, and the Armitage v Church case.
"We are currently looking at the key issues that were raised in the judgement, determining appropriate 2011 standards of competence and best practice, and getting a legal review. We expect to issue these standards out to members by the end of August. We're also planning to cover key points in our upcoming PD Roadshow days in October. "
The IFA encourages any member facing a complaint or expression of dissatisfaction from a client to contact it about the standards that they may be judged against.
More market analysis
We have a few new developments under way here at Good Returns. One of the things that we will be doing is providing more expert commentary on what is happening in investment markets. Each month we will have comment from Harbour Asset Management. In this month's piece (which you can read here) Harbour discusses Australasian markets and strategy.
Why Fish! is good
This will mean something to those who attended the IFA Conference last week. A highlight was keynote speaker Stephen Lundin - who wrote the book Fish!
It's a great story about boosting morale and improving results. I enjoyed hearing Lundin and will be reading his book. If you too would like to get your hands on a copy then visit our bookstore www.intelligentinvestor.co.nz
We have Fish - The Omnibus listed in the shop. Find out more here.
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Some may praise the pragmatism of the IFA, for their courage in ignoring their own rules and saving its members many tens of thousands of dollars on disciplinary proceedings. Some might also, ask, how can we depend on a professional association like the IFA to show proper behaviour and attitudes if cost plays such a large part in determining which ethical path they follow? Like it or not, the IFA now have a problem between its rules, its institutional culture and its methods of protecting that culture.