News Round Up

IFA calls for help for earthquake affected advisers; Updated edition of QFE Adviser Business Statement guide; Savings Working Group has first meeting

Sunday, September 12th 2010, 5:13AM

IFA calls for help for earthquake affected advisers
The IFA says tales are rolling in of Canterbury advisers unable to get into their premises as a result of the 7.1 magnitude earthquake which hit a week ago.

The association has already received numerous offers of accommodation as a result of its President's Appeal, some from as far away as Auckland.

The IFA says some Canterbury colleagues are unable to access their premises, some are unable to do simple office admin such as handling clients or doing mailouts.

IFA chief executive Peter Lee says some may need to borrow power tools for their home or business premises and some members may also be lacking business clothing.

"If you can help in any way, maybe you have spare admin capacity, please get in touch with your local branch or with National Office. And if you're a Christchurch member needing help, please let us know," says Lee.

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Reserve Bank governor Alan Bollard is likely to leave interest rates unchanged next week amid the faltering economic recovery and the likely hit to confidence from the Canterbury earthquakes and South Canterbury Finance's collapse. Read More

Updated edition of QFE Adviser Business Statement guide
The Securities Commission has released an updated edition of its QFE Adviser Business Statement Guide reflecting changes to the Financial Advisers Act.

The guide has new content on QFE groups and covers partner entities, nominated representatives and associated entities. Other changes have been kept to a minimum.

Prospective QFEs should submit their Adviser Business Statement to the Commission for review by 1 October 2010 to allow time for any queries to be addressed. The deadline is 1 December 2010.

Savings Working Group has first meeting
The Savings Working Group focused at its first meeting on New Zealand's immediate economic situation and the challenges it poses for our future.

The group decided:

To invite, via its website, submissions on matters within its Terms of Reference
To approach a number of experts for information and advice on current savings-related research
To alert organisations with a particular interest in savings to make submissions.

The Savings Working Group’s next meeting will be towards the end of September 2010.

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