Podcast News Wrap For 29 July 2020


Podcast News Wrap For 29 July 2020

As New Zealand continues operating under Covid-19 Level 1, it seems an air of cautious optimism is percolating among financial advisers as they start to put the near total shutdown of the country behind them.

Katrina Shanks, CEO of Financial Advice NZ, says there is no doubt financial advisers’ revenue was reduced during the Level 4 lockdown, but that today they are just getting on with business as normal.

“It is quite buoyant in some areas,” she says. “For many advisers they are extremely busy with both new and existing clients who have considered the need for new and/or additional insurance during this period.”

Her take on the general mood of the sector nationwide is that advisers are quietly confident, but have an underlying level of uncertainty.

New regime

Lawyers at Buddle Findlay have run the ruler over the incoming regulatory regime and comments on how different it will be to the current system.

The company says that while the new disclosure regime aims to make disclosures available as-and-when they are “most appropriate” to the client “…the timing and content of each of those disclosures reflects a stated purpose”.

In addition there’s a reminder that AFAs will not be required to submit their annual information returns this year thanks to a concession by the FMA.

Free training

Partners Life is planning a three-day training course for advisers who have worked in the industry for less than 24 months.

The company’s New Adviser course is free and being held on August 17, 18 and 19 at the company’s offices in Takapuna, Auckland. But you’ll need to apply today Wednesday 29 July.

Partners Life reverses restrictions

Partners Life has reversed its restriction on waiting periods for self-employed clients in response to adviser feedback.

The company announced the change on Thursday July 23 telling advisers they are “…free to recommend the best waiting period option for your customer, irrespective of their employment status”.

Money week

Money Week is being held from August 10 to 16 and this year’s theme is ‘Just wondering’.

The annual event is organised by Sorted, a part of the government’s Commission for Financial Capability.