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Shanks signs up for level five

Pity the person who has to mark her regulation papers – Financial Advice NZ chief executive Katrina Shanks is signing up for level five.

Wednesday, September 25th 2019, 6:00AM 2 Comments

The Financial Advice New Zealand chief executive has signed up to complete the New Zealand Certificate in Financial Services, level five.

That level five qualification is the competence standard required of everyone giving advice under the new financial advice regime.

Shanks said it was important for her to be able to “walk-the-walk as well as talk-the-talk”.

She has decided to do the course after hearing from advisers who were worried about how they would fit in the time to do the qualification around their normal business activities.

When Financial Advice New Zealand was lobbying for advisers to undertake the qualification, and promoting the message that being qualified would help increase consumer confidence and trust in the sector, Shanks said it made sense that she also make the effort to do so.

Shanks has enrolled with Open Polytechnic because it was the most neutral option in terms of the association’s partnerships, she said.

Her course begins on October 6 with core strands before moving on to specialisation. She said she had been tempted to ask if she could complete the regulation paper, usually done second, first.

Shanks has been keenly engaged with the development of the new legislation and is a former MP.

Shanks said she will be running a weekly study group for advisers who are also completing the course.

She said, as someone with no hands-on experience of the industry and not having studied since her degree, she was not sure what the experience would be like.

She will continue to work full-time as chief executive while studying. “But if everyone else can do it so can I. I’ve got to walk-the-walk so I can tell other people what my experience has been like with integrity.”

Tags: Financial Advice New Zealand Katrina Shanks level five

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Comments from our readers

On 25 September 2019 at 7:06 pm Pragmatic said:
Try the fi360 course - more relevant
On 27 September 2019 at 7:41 pm LNF said:
So what and who cares. Ex list MP and funeral association. Never spoke against the RBNZ or FMA rubbishing the industry. People with decades of good trading being dumped all for a political agenda. With level 5 and none of the skills those people would last 6 months

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