Advisers welcome Partners' move to cancel trips

The insurer – previously one of the more high-profile providers of international events for advisers – revealed last week that its next trip will be its last.

Managing director Naomi Ballantyne said ensuring clients’ trust in the industry was paramount.

“And we have also heard repeatedly, and increasingly more assertively, from our regulators that soft dollar incentives such as offshore conferences for advisers are causing reputational damage to the New Zealand financial services industry.

"While they understand there is value created for both the adviser and the insurer from these conferences, they are not convinced that consumers benefit sufficiently to offset the potential for incentive driven conflicts to negatively influence the advice consumers receive."