Cortesi: Many want association merger
President Bruce Cortesi said: “Long-term, I think any organisation representing, or having a large body of advisers they are responsible for, it would be to their detriment to think otherwise.”
The PAA and IFA are holding a joint conference in June and that has prompted speculation of a merger.
Recently-retired adviser Brian Klee, of Special Risk Insurance, said it did not make financial sense to have two organisations serving the number of advisers in New Zealand.
“I strongly believe the IFA and PAA must integrate into one body to reduce the fees advisers are being asked to pay to belong to a professional association. I would like to see the two merge. There would be two disciplines within the one organisation but it is highly achievable. What may stop it is personalities but with the present personalities there is more hope of it happening now than there has been for the last couple of years.”
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