About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Wednesday, August 23rd, 9:40AM
Check out GoodReturns TV now! Dismiss
rss
Latest Headlines

Financial Advice NZ enters next phase

The working group developing Financial Advice New Zealand would like to see the new association come to life around the time of the IFA and PAA shared conference in early August.

Friday, May 12th 2017, 6:00AM

by Susan Edmunds

A 100 working-day plan to bring the organisation to life finished last week.

The working group said the consultation process had highlighted priorities for the new organisation including advocacy, public awareness and standards, which had formed the basis of the Financial Advice New Zealand constitution and bylaws.

Next, the IFA, PAA and NZFAA boards will review those documents.

“It has been a comprehensive process; and necessarily so. When you’re re-imagining how an entirely new association can best support members and an industry that plays such an important role in New Zealand, it is essential to challenge current thinking and structures that exist largely by default," the working group said.

“For example, how to ensure that an association that represents advisers as a whole, does not lose sight of the specific needs of different types of advisers – mortgage, insurance, investment and financial planning. A crucial structure to get right – and get right the first time – and one that we have determined by listening to the industry and dispensing with outdated ways.”

By the end of this month or early June the working group hopes to have IFA, PAA and NZFAA board approval.

In June, an establishment board will be approved and the plan for the association released.

Michael Dowling, president of the IFA, said the boards would have to go back to their memberships for the requisite approvals.

“All going well we would like to be in a position to establish [Financial Advice NZ] on or about the time of the conference.”

There is potential for the association to take in more than just IFA, PAA and NZFAA members.

The working group has signaled that it would like to attract advisers who are not members of any body at present, and other groups may become involved.

Gary Young, chief executive of IBANZ, which represents general brokers, said his organisation was watching the progress with interest.

He said the membership of his organisation was quite different to that of the PAA.  IBANZ has been lobbying on Fire Service changes, for example, which Young said would not interest most PAA members

But he said there would be benefits to being part of a larger organisation. “Talking as a group would have more power. Where you have common interests it’s good to speak as one.”

Tags: Financial Advice New Zealand

« Getting to Know: Stephen O'ConnorPathfinder Asset Management launches RI option »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • Industry demands details
    “Nominated representatives I also don't see why the sector is puzzled about the role of nominated representatives. All licensed...”
    3 hours ago by Murray Weatherston
  • Industry demands details
    “I don't understand what the issue raised above about complaints and EDRS is. Under FSLAA, the licensee is the entity (FAP)....”
    3 hours ago by Murray Weatherston
  • Former Navy captain to steer Newpark into the future
    “Great to see Newpark taking the early initiative as well as appointing someone with such obvious experience and business...”
    12 hours ago by Donald
  • Former Navy captain to steer Newpark into the future
    “Congratulations Newpark on an awesome strategy! By appointing a "skipper" (pun intended) with Deans credentials, you are...”
    5 days ago by The Oracle
  • Getting to Know: Peter Neilson
    “Interesting article. Isn’t it good we do have some decent people in our industry. What a joke that was when all those...”
    5 days ago by Brent Sheather
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.79 5.05 ▼5.25 5.59
ANZ Special - 4.55 ▼4.75 -
ASB Bank 5.80 4.85 5.19 5.49
ASB Bank Special - 4.45 4.79 5.09
BankDirect 5.80 4.85 5.19 5.49
BankDirect Special - 4.45 4.79 5.09
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.59 4.79 5.09
BNZ - Std, FlyBuys 5.90 4.99 5.29 5.59
BNZ - TotalMoney 5.90 - - -
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.45 5.50 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 5.00 5.20 -
Housing NZ Corp 5.79 4.85 5.24 5.49
HSBC Premier 5.79 4.09 4.29 4.89
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.95 5.29 5.59
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.45 4.79 5.09
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
Lender Flt 1yr 2yr 3yr
RESIMAC Special 5.00 - 4.75 -
SBS Bank 5.89 4.99 5.29 5.59
SBS Bank Special - 4.59 4.85 5.25
Sovereign 5.90 4.85 5.19 5.49
Sovereign Special - 4.45 4.79 5.09
The Co-operative Bank - Owner Occ 5.75 4.59 ▼4.79 ▼5.09
The Co-operative Bank - Standard 5.75 5.09 ▼5.29 ▼5.59
TSB Bank 5.80 4.80 5.15 5.45
TSB Special - 4.55 4.79 4.99
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.95 4.99 ▼5.19 5.59
Lender Flt 1yr 2yr 3yr
Westpac - Capped rates - 5.26 5.36 -
Westpac - Offset 5.95 - - -
Westpac Special - 4.59 ▼4.79 5.09
Median 5.80 4.85 5.15 5.38

Last updated: 21 August 2017 10:06am

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com