Getting to Know...Brent Sheather

Who are you and what do you do?
I am a financial adviser, former member of the NZ Stock Exchange, and with two other advisers and a support team of five we manage $710 million for retail clients throughout New Zealand.  I have also written for the NZ Herald since about 1996.

From memory you were a sharebroker with Craigs many years ago, how did you get into the financial advice industry?
In early 1984 Neil Craig and I worked in the economics department of Tasman Pulp and Paper.  Neil had the very good idea of buying a Whakatane stockbroker.  We had both been into shares and it seemed like a good idea.  It has turned out pretty well and has been a great industry to be involved in.

You're clearly not a fan of some of the regulatory impost advisers are now burdened with, what's the worst? (and what's the best thing that could be done for clients?)
It is difficult to think of the worst regulatory impost advisers are burdened with because there are so many and I can’t think of many benefits they have for my clients.  Certainly what we do hasn’t changed much post the regulations except that we take fewer clients and enjoy our jobs less. 

If I had to pick one bad area I guess it would be CPD although wasting all that time doing stupid studies to become an AFA is up there as well.  The best thing that could be done for clients by the regulators would be to split investment banking from retail banking but with every second politician ex a stockbroker and the regulators eyeing their next career move I’m not holding my breath on that one.