Association Teams up With FMA For More Licensing Roadshows


Financial Advice New Zealand has announced a number of seminars on transitional licensing will take place in November.

The roadshow is part of a programme being run by the Financial Markets Authority and Financial Advice NZ to update advisers on licensing requirements ahead of new legislation due to take effect in June 2020.

The seminars are to be held in Napier, Palmerston North, and Nelson and follow others run by the FMA in the main centres throughout August and September. (see: FMA Transitional Licensing Seminars Offer…).

The FMA’s John Botica, recently spoke about transitional licensing in a video included in a recent update from the regulator.

Financial Advice NZ Chief Executive, Katrina Shanks …roadshow is key to boosting financial advisers’ confidence

The association stated the two-hour sessions will be run by officials from the FMA and Financial Advice NZ who will talk through key aspects of transitional licensing, including a reminder of the timeframes and new requirements and case studies showing the options of how to operate in the new regime under different business structures.

Financial Advice NZ Chief Executive, Katrina Shanks, says the roadshow is key to boosting financial advisers’ confidence in continuing to deliver quality financial advice and is important in helping ensure consumers have access to advisers with the highest standards of conduct and accountability.

“Under the new Financial Services Legislation Amendment Act and the updated Code of Professional Conduct for Financial Advice Services all advisers will have to meet conduct and culture standards that will make sure clients are treated fairly,” said Shanks.

“These requirements will enable those seeking advice to more easily understand a professional adviser’s expertise and to know they are in capable hands that are subject to good regulation,” she added.

“We are all focused on good consumer outcomes, and that means good accessibility for the public to quality financial advice.”

“So far an overwhelming number of financial advisers say they intend joining the new licensing regime, and that’s great news for New Zealanders because it’s hard to beat experience and continuity,” she said, referring to a recent survey conducted by the association on its members (see: Most Advisers to Stay in New Regime – Survey…).

The seminars will take place in Napier and Palmerston North on 13 November and Nelson on 25 November.

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