Pitch to tie advisers to QFEs inevitable say IFA, SIFA
AXA New Zealand and fund manager ING New Zealand put the pitch out to advisers in their respective roadshows last week as the deadline of looming regulation draws nearer in a move that some of the associations have been waiting for.
"Since the definition for QFEs was changed to include agents we always thought that would happen," said Lyn McMorran, president of the Institute of Financial Advisers. "If tying advisers will have people authorised there will be a market for it."
Murray Weatherston, chairman of the Society of Independent Financial Advisers, agrees saying the QFE regulations were always going to see a push for linking advisers to product providers.
"They're clearly going to try and increase their control and distribution," Weatherston said.
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