It’s time to engage investors about the new regime

Those who attended the PAA conference would have heard FMA’s Chief Executive Sean Hughes talking about how, at its heart, regulation is about getting better outcomes for the people who need and use financial advice. Giving the public information about regulatory changes is a key part of FMA’s role and, over time, will help give investors more confidence because there is really good news for investors in the changes that are taking place.

• Providing clients with care, diligence and skill is now mandated in law for all advisers.

• There are clearer guidelines on the different types of services different advisers can provide and disclosure rules should make it easier for investors to choose an adviser who’s right for them.

• For the first time, there is a public register people can visit to look up an adviser or financial service provider.  Investors wanting to work with an AFA can also look them up on FMA’s website – check out our new, more searchable list.  QFEs are listed there too.

• And if an investor experiences a problem with an adviser there are now clearer pathways to help them get those resolved.