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New board members announced at Financial Advice NZ

Financial Advice has increased the size of its board with two new independent directors; plus it has elected a risk practitioner.

Wednesday, October 14th 2020, 11:36AM 2 Comments

Financial Advice New Zealand has appointed two Independent Directors and the elected risk practitioner director.

Sixty three people applied for the position of Independent Director and the successful candidates were a former ACT Party MP, and a financial literacy expert.

The two new directors are Heather Roy and David Kneebone.

Roy is a former Minister of Consumer Affairs, and a director on other organisations in the not-for-profit sector. She has been appointed for a term of three years.

Kneebone has 15 years experience increasing the public’s financial literacy in three countries. He has been the executive director for the Commission for Financial Capability and most recently as general manager/director for the Investor and Financial Education Council (IFEC) in Hong Kong. He has been appointed to bring the voice of the consumer to the board. To provide for rotation of directors, Kneebone will be appointed for a term of two years.

This year, the board recognised the organisation had moved to a more mature, and sustainable, phase of its development.  A phase in which achieving the constitution’s mandate - to focus on its objectives of promoting the value of financial advice to consumers; advocating for financial advisers and for financial advice; and on building professional standards for financial advisers – will be critical.

The appointment of two additional independent directors will bring a unique set of skills and experiences to the board.

The position of Risk Practitioner director was contested by five experienced financial advisers.

Cecilia Farrow was elected the Practitioner Director. She held the role for the past two years and was seeking re-election to this position. Farrow has a 25-year career in the financial services sector and has committed her efforts to lifting the standards of advice in the life risk sector.

Tags: Financial Services Ombudsman Scheme

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Comments from our readers

On 15 October 2020 at 5:51 pm LNF said:
How this organisation has morphed
Prudential Agents Association with in todays terms, millions of dollars of assets
Then Professional Agents Association with millions of dollars of assets
Now FANZ with ?
On 16 October 2020 at 9:29 am Pragmatic said:
It appears to me that the FSC is the new FANZ/PAA/IFA (insert acronym)

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