by Susan Edmunds
We reported at the start of the week that the IFA and PAA are at odds over some of the proposed changes, such as the move to allow RFAs to progress towards KiwiSaver advice.
The IFA also strongly backs the proposed changes to CPD requirements while the PAA has some questions over providers not be able to offer structured hours.
But if what a couple of the dispute resolution schemes have said this week is anything to go by, some advisers are still taking a reasonably cavalier approach to at least some aspects of the code.
The ISO said that could be partly because a lot of small operations deal with complaints as and when they come in, without a formalised process.
I often hear that the one of the biggest benefits of having professional bodies,formalised processes, disputes resolution schemes and new regulation is that they improve the perception of the industry in the eyes of the public.
And advisers were told to use Money Week this week to promote the value of what they do. Many offered their time pro bono, offering advice on mortgages, savings and investments.
But the IFA's free hotline did not attract a huge number of calls. CEO Penny Mudford was pleased, though, because the number was about twice what it was last year.
One of the most interesting comments of the week was from Peter Cave, who said we need to move on from this idea that advisers must constantly prove their worth.
What other adviser must do that, he asked. In many other industries, the role of the adviser is just accepted.
He said the idea of a website comparing investment advisers' performance was a terrible one because it was much too short-term an approach.. Other advisers agreed.
It's been a busy week on the mortgage front, with the Reserve Bank Governor candidly admitting that the result of looming LVR restrictions is uncertain.
And there's been even more divergence between the rates on offer for low-equity borrowers and others.
In insurance, some of Partners Life's Naomi Ballantyne's comments on dealer groups are sure to spark debate.
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