CFPs mull future of pinnacle mark
The administration of the mark moved from IFA to Financial Advice NZ when the new association was formed. To retain their CFP credentials, advisers have to be a member of the association. There are currently about 285 CFPs in New Zealand.
But, because it has a much wider membership base than IFA, Financial Advice NZ has been asked how it will juggle the promotion of CFP with the need to promote its own quality mark, and its goal of boosting the visibility of financial advisers more generally.
Simon Hassan, who is chair of the Financial Advice NZ certification committee, which manages the CFP mark, said it was a tough balance for the association.
If CFPs felt they were not well represented, they had other options, he said. Control of the mark could be shifted if 10% requested a review by the Financial Planning Standards Board.
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