Members of the New Zealand Financial Advisers’ Association (NZFAA) on Friday voted in support of participating in the establishment of PAA/IFA led initiative Financial Advice New Zealand.
NZFAA general manager David Yates said its members are excited about what the new organisation can bring to the industry.
“We very much look forward to contributing to the development of the new representative body,” says Yates.
“A body designed for the changing business realities for advisers, that better represents advice, and helps consumers access quality advice, is an initiative that we can all get
The Professional Advisers Association
(PAA) and Institute of Financial Advisers
(IFA) started on the development stages of Financial Advice New Zealand earlier in August, aiming for a completion date in March/April 2017.
“We are of course very pleased that the NZFAA will be participating in the development of Financial Advice New Zealand,” says PAA CEO Rod Severn
“Over the next few months we have an opportunity to shape a body fit for the future of advice – for all types of advisers. To arrive at the best outcome, we want a well-managed but wide-ranging set of voices at the table,” said IFA CEO Fred Dodds
The IFA and PAA will receive guidance from Dr Lester Levy, chief executive of the New Zealand Leadership Institute, on how to set up the consultation process and make it as inclusive as possible, after which the consultative process can begin.
“We want to do this once and do it right,” said Severn and Dodds.
“As we progress through the many facets of the new representative body, there will be many opportunities to share views and participate in shaping Financial Advice New Zealand.
“All views are welcome and greatly appreciated.”