Are You Managing Your Conflicts Of Interest?


Do you have any concerns about meeting your future conflict of interest obligations?

  • No (83%)
  • Yes (15%)
  • Not sure (2%)

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The issue of conflicts of interest is coming under greater focus by industry the industry regulator and has been clarified further this week by Katrina Shanks, CEO of Financial Advice NZ (see: Unpacking Conflicts Of Interest).

Shanks says that while an industry definition of conflict of interest may seem vague or broad, addressing it is straight forward.

“Communication is key,” says Shanks. “Conflicts of interest must be disclosed in writing in simple clear language. This shows clients that the adviser is managing the conflict, and proactively doing something about it.”

While it could be said that conflicts of interest should be intuitively identified by any professional financial adviser, incoming regulations not only place greater demands on advisers to manage and declare them, but to document them as well.

Given this discussion, we’re keen to learn whether you’re presently comfortable with meeting your conflict of interest obligations – both today and tomorrow.

Tell us what you think and we’ll report back next week…