NZFAA backs new association

Members the New Zealand Financial Advisers’ Association (NZFAA) have voted in favour of participating in the establishment of Financial Advice New Zealand.

“A body designed for the changing business realities for advisers, that better represents advice, and helps consumers access quality advice, is an initiative that we can all get behind,” NZFAA general manager David Yates says.

Financial Advice New Zealand is being driven by the Professional Advisers Association and the Institute of Financial Advisers. The heads of these two organisation, Rod Severn and Fred Dodds, says in a statement: “Over the next few months we have an opportunity to shape a body fit for the future of advice – for all types of advisers. To arrive at the best outcome, we want a well-managed but wide-ranging set of voices at the table.”

Dr Lester Levy, chief executive of the New Zealand Leadership Institute, will be giving guidance to the IFA and PAA on how to conduct a consultative process to be as inclusive as possible. Once this has been completed, the consultative process can commence.