by Susan Edmunds
I am Toni Dodds, Quality and Compliance Manager for Camelot NZ Limited, an owned and operated full-service financial advice company with offices nationwide. I am also Branch Chair (Lady) for the IFA in Wellington. My personal focus is in governance, legislation, regulation and upholding standards and ethics in our profession.
Very random story of meeting a gentleman, Sam Stubbs to be broadly honest, at a conference when I returned to New Zealand in 2008 – next minute…….
Dad often hinted that he thought I should be involved in the business when I was younger, so I ran away overseas for 13 years. Funny how things turn out – I have since worked not only with him, but with advisers who knew me as a child. I think working in the same industry has given me a relationship with my father that I may never have had.
I would love to see more information available to the New Zealand public on an educational level for the benefits of engaging with an adviser to assist them with certainty of success and comfort and security in their financial life, rather than media attention on what is wrong and “horror stories”, which only creates fear and distrust in our profession.
Get an adviser. Oh and yes, move home to New Zealand - I did both by the way! And on a more philosophical level – Know yourself, be mindful of others and continue to grow.
Most industries have been through regulation and change in some shape or form – I think the best learning is that things will always move forward, and in order to grow, we need to be open to change, embrace it and use it to better ourselves.
Higher employer and employee contributions plus more education for members - with employers encouraging personal advice for employees.
Those who know me are aware I am a huge fan of regulation. I think it has raised the bar of competence in advisers and holds their processes to account. We must be careful not to overthink regulation, but rather to understand it, as it is here to provide standards to advisers and comfort to our clients. Compliance is now a part of all advisers’ lives; if you don’t have time to maintain knowledge – “outsource”.
Having one united professional body, I believe, is a step in the right direction for our profession. We will have advocacy with ministry, regulators and a voice for all. Strength in numbers! I also believe there is a certain pride in belonging to an industry body where you can share ideas, and have access to assistance, to better yourself in what you do.
We are not a “luxury service”. Advice is actually available to all and on many levels – the benefits will be huge to those who take a step and ask for assistance in this area of their life. Many Kiwis have a stick-their-head-in-the-sand attitude to managing their money.
But of course.
As I am “so young”, I am in a growth portfolio – of course after consultation with my adviser.
I love to be in my home; entertaining friends and family is one of my favorite pastimes. Anything to do with the ocean is close to my heart and, when I need to, I'm in the boxing ring, “gloved up”.
I have found my home, I will still be in the industry - perhaps in a more expansive role.
I spent eight years in the Middle East and worked in an industry with services to many famous clients, so I escorted “Posh Spice” for five days as a personal guide, brought Christian Dior from Paris for a fashion show for 5000 people, unveiled the new Rolls Royce for the royalty of the UAE under the famous Burj Al Arab, spent a weekend with The Gypsy Kings back stage “jamming”…… there is more.
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