IFA in partnership with NZ Funds

NZ Funds Management has entered a three-year partnership with the Institute of Financial Advisers (IFA) where it will contribute professional expertise and knowledge to members.

Thursday, January 20th 2011, 7:45AM 5 Comments

by Jenha White

NZ Funds chief executive Richard James says the company wishes to be supportive of the independent financial industry in a time when business conditions are very challenging for advisers, both from an environmental and regulatory perspective.

"We see a lot of opportunity to connect with advisers by looking at how things might evolve.

"We have invested heavily in our advice thinking and technologies over the last few years and we see the opportunity to share what we've been doing in that space."

IFA chief executive Peter Lee says NZ Funds will help out in the area of professional development with its resources being made available to members and with knowledge shared in particular areas such as behavioural finance and investment.

He says through behavioural finance NZ Funds can help advisers anticipate how clients will respond to different situations, so they can prepare themselves for client questions, endeavouring to help them.

Lee says for example, if the sharemarket drops by 20%, what's an investor likely to do?

"If you can anticipate such questions you are more likely to get clients and retain them. It's about becoming a better adviser by understanding more about what makes people tick."

He says NZ Funds will also help advisers develop knowledge around investment management, investment theory and practice.

James says NZ Funds believes that in working with the Institute it can help members continue to strive to be at the forefront of industry thinking.

"That will assist not only members of the institute, but the financial adviser industry as a whole," he says.

NZ Funds will present at two of the three IFA roadshows each year and at conference.

Jenha is a TPL staff reporter. jenha@tarawera.co.nz

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Comments from our readers

On 20 January 2011 at 10:31 am Strange move said:

Comments to this article on NBR http://www.nbr.co.nz/article/institute-financial-advisers-partners-nz-funds-nk-83907

On 21 January 2011 at 5:51 am Peter Gray said:

Shame really as the IFA have shown a lot of leadership in the last year with great work by the likes of Simon Hassan and Peter Lee.
A key task for the IFA is to build trust and they have done a good job of that. My view is aligning themslves to a business previously aligned to First Step / Money Managers is a mistake. To be fair we all make mistakes so they are entitled to one.

On 21 January 2011 at 12:59 pm John Wood said:

Congratulations to the IFA on the joint venture with NZ Funds. What a positive move. Knowing how much time and resources NZ Funds have put into this area, they will be able to offer IFA members a unique opportunity to see how behavioural finance and investment can benefit their clients. To add value and be truely relevant to its membership going forward, I am sure the IFA will continue to look for other professional relationships.

On 26 January 2011 at 3:59 am Matt Y said:

How many other 'independent' industries would align themselves to in this way?

Most other reputable profesional bodies are able to train their members to a high standard without the need of an outside non independent body to complete the task for them.

The term independence, does not and with continual arrangements such as the above will not apply to the Adviser industry in this country.

On 2 February 2011 at 1:41 pm traveller said:

Am I being cynical or is this simply an opportunity for NZFM to get business from the more gullible members of the PFP community? Having read the responses to the NBR article, I suggest there are a good many planners out there who think the same.I hope when giving presentations, NZFM are required to be refrain from pushing their own barrow; and the same applies to any other future jv partner. Yeah, right!