Committee argues for level playing field for advisers
The FMA is consulting on its plan to offer an exemption, which would allow roboadvice to be offered ahead of the looming law changes.
The Code Committee, which is responsible for the Code of Professional Conduct for AFAs, has made its submission public.
In it, it says that AFAs are required to meet minimum standards of competence, knowledge, skills, ethical behaviour and client care, and roboadvisers should be, too.
“The Code Committee’s position is that if an exemption is to be granted to facilitate peronsalised roboadvice, then the terms on which any such exemption is granted must be consistent with the terms on which AFAs must operate.”
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
