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Philip Macalister
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Did the PAA challenge other associations?

Thursday 15th of February 2007

The question I want to pose today is this: Did the PAA lay down a challenge to other associations this week when it revealed its strategic plan? If so, what does it mean?

The PAA was quite open and honest this week in laying out its plan for the future. In essence it said that all life advisers in New Zealand should belong to the PAA. While the phrase wasn't used publicly, the perception I get is that the PAA is the natural home of life advisers.

While the PAA made it clear that financial planners and investment adviser aren't its target market, it does think that mortgage brokers are a potential pool of new members.

My take on this is that it is a sensible strategy. Many readers will have heard me espouse my adviser continuum theory.

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FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
2 days ago Steve Wright
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Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
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To correct errors in my previous post: "policies, templates, and controls" should read "policies, processes, systems and controls", and "is more conductive" should read "is more conducive".
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