More than 600 advisers attended Financial Advice NZ’s Connect Tour held in eight regions throughout September, which culminated in the Auckland event last Friday where 200 advisers attended the sold-out event.
The half day events canvassed a variety of topics focusing around advisers shaping the future of advice, with Financial Advice NZ’s CEO Nick Hakes setting the tone for the day in Auckland in encouraging advisers to engage with its draft Common Practice Standard: Nature and Scope of Advice.
This aims to address the FMA’s Access to financial advice in New Zealand review which had a central finding that a conservative interpretation of the current principles-based regime is itself a major barrier to access. It noted financial advisers are not using the flexibility to its full potential because doing so does not yet feel safe or fully understood.
The Auckland event included a workshop session where advisers were asked by facilitator, Financial Advice NZ’s Head of Professional Development, Cecilia Farrow, to road-test the practice standard in groups.
Advisers were given questions which might be posed by clients and ask to look at these through a ‘do-no harm’ test and then to decide as a group whether to proceed with single issue advice, widen the scope, refer or decline. The reasonings behind each group’s decision would help shape the consultation draft.
Date Announced for National Adviser Conference
Amongst the announcements at the event was that the 2027 National Adviser Conference will be held on April 6-8 at Auckland’s NZ International Convention Centre, with early bird registrations now open.
Service Awards
During the Connect Tour Financial Advice NZ also awarded service awards to four members to recognise the time, effort and the positive impact they’ve made to Financial Advice NZ, its members and the industry.
Service Awards went to Brenda Nom in Invercargill, Julius Capilitan and Zebunisso Alimova in Wellington and Dennis Edel in Auckland.
