A record 610 delegates attended the Financial Advice New Zealand 2019 Conference held in SkyCity Convention Centre in Auckland last week.
This year’s Conference, themed ‘Be Brave, Be Bold’ delivered key insights including:
- How advisers can manage regulatory change and thrive in a changing environment
- A new advisory model to future-proof your business
- Lessons learned from the Royal Commission in Australia
Commerce and Consumer Affairs Minister, Hon Kris Faafoi sent a video welcome address where he emphasised the importance of lifting the financial capability of all New Zealanders and the financial adviser’s significant role in lifting this capability.
Faafoi noted that the Government is working hard to ensure compliance costs are affordable and fair for advisers and was clear that it is not considering a total ban on commissions but rather changes to target-based and soft incentives. He said they expect to announce these reforms very soon.
Attendees gained an insider’s view of the Hayne Royal Commission in Australia, listening to multi-award-winning investigative journalist, Adele Ferguson, who helped bring about the Royal Commission through her investigations into its financial services sector.
The association’s membership now totals 1,696 after 151 new members joined in the past year, as Financial Advice NZ Chair, Sue Brown, and CEO, Katrina Shanks, reported on the association’s achievements in the past twelve months and that they are seeing a higher uptake of young and female advisers becoming members.
Award-winning academic, consultant and analyst, Hagai Segal, gave an engaging delivery on geopolitical risk and how advisers can have more control than they may realise in an uncertain world and make informed decisions in relation to their businesses.
During the afternoon of Day One, advisers could attend a selection of Icehouse Training sessions and a new advisers bootcamp, before standouts in the industry were recognised at the Gala Dinner (see: Financial Advice NZ Announces 2019 Award Winners…).
Advice workshops across risk, investment and lending and a range of business sessions were available for the bulk of Day Two of the Conference. Of particular note was ‘Redefining Risk Management’, a packed insurance workshop presented by Scott Fitzpatrick of Fitzpatricks Private Wealth in Australia. He spoke to advisers on how to develop a life ing plan for clients and become part of the’ ‘family board’ and how advisers can future-proof their business with a fee for service advice model approach.
An insightful panel discussion was held at another business session on conduct and client care, which RiskinfoNZ will report on further in this week’s news. Brown facilitated the panel discussion, which included panellists:
- Karen Stevens, Insurance & Financial Services Ombudsman
- Rob Everett, FMA CEO
- Marisa Broome, Principal Of Wealth Advice in Australia
- Hon Sir Bruce Robertson KNZM VGSM, Chairman of the Financial Advisers Disciplinary Committee
More keynote speakers delved into how to use disruptive technologies to transform customer experiences and courageous leadership in changing times. Thought Leaders Practice founder, Matt Church, brought together many of the key messages for advisers at the penultimate plenary session of this year’s Conference, where he underlined his contention that: “Knowledge is not your competitive advantage. Wisdom is.”
The third annual Financial Advice New Zealand Conference in 2020 will be held in Christchurch.
