FAA review issues paper welcomed
The paper was released yesterday and sets out three proposed goals for financial advice regulation: To give consumers the information they need to find and choose a financial adviser, to make advice accessible and to give the public confidence in the professionalism of advisers.
The 66-page paper asks a range of questions including about commission, qualification requirements, adviser designations, personalised versus class advice, disclosure, professional bodies and the cost of compliance.
IFA chief executive Fred Dodds said his organisation would engage with the Ministry of Business, Innovation and Employment about the issues paper.
It is running a survey of its members and the review would be discussed at the upcoming conference and the IFA's monthly branch meetings.
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