Articles tagged with 'AFA'
Dust-up looming over FMA’s value-for-money initiative
3 October 2022 - A scrap is brewing between the Financial Market Authority (FMA) and some fund managers about the extent to which the regulator's value-for-money guidance on fees will apply to non-KiwiSaver funds.
Adviser loses transitional licence
13 December 2021 - The Financial Markets Authority (FMA) has cancelled a transitional advice licence for the first time.
FADC finds against AFA in Code of Conduct case
20 January 2021 - [UPDATED] A highly experienced financial adviser has been found to have breached two code standards by the Financial Advisers Disciplinary Committee.
Advisers buoyed by strong property market
6 July 2020 - The New Zealand property market has emerged strongly out of lockdown, according to mortgage advisers, who say they are busy as ever this winter.
[UPDATED] Partners Life changes to shake the market
28 February 2020 - Partners Life has made big changes to premiums, wait times and how it treats self-employed customers to make sure policies are sustainable. [Clarified past premium increases].
FMA won't be 'outgunned' despite broader remit
5 February 2020 - The Financial Markets Authority wants to work collaboratively with the investment community this year, but warned “we will not be out-gunned,” despite its wider remit.
[The Wrap] Introducing the new type of financial adviser (Not)
23 August 2019 - One of the things which impacts on the standing of financial advisers is the dodgy people who pretend to be be advisers but work outside of the regulated market.
Surge in AFA numbers pre-FSLAA
24 June 2019 - Authorised financial adviser numbers grew in the last year for which data will be kept on them.
[GRTV] Code gets eight out of 10 from long-time critic
21 May 2019 - Adviser advocate Murray Weatherston says the new code is good for advisers - but there's an elephant in the room.
FADC hands down its punishment in non-disclosure case
16 May 2019 - A financial adviser who breached the Code of Conduct by skimping on client medical histories in insurance applications has learnt the fate.
The Big Read: FMA goes after adviser for alleged non-disclosure
26 March 2019 - Questions about what the professional responsibilities of advisers in a consumer protection regime are lie at the heart of the Financial Advisory Disciplinary Council (FADC)’s first non-disclosure case.
Bank AFA force broadly steady
18 December 2018 - New Zealand banks are bucking international trends by holding on to their advice forces.
AFA applications roll in
23 November 2018 - The Financial Markets Authority is experiencing a rush of applications from those wanting to become authorised financial advisers.
Date set for OnePath/Cigna merger
19 November 2018 - OnePath and Cigna become one at the end of this month.
Six-step process
30 July 2018 - Now that you've seen a bit of what I'm thinking, you're getting the idea I'm looking to challenge the status quo somewhat.
Dealer groups divided on Code
23 July 2018 - The three mortgage groups that made submissions on the Code Working Group's proposals offered opposing views on ethics and who should take responsibility for advice given.
It's time for RFAs to make some noise
18 June 2018 - If you are an RFA and you intend to be a business owner that's more than just a salesperson into the future, you need to make your voice heard, Jon-Paul Hale says.
Changes for RFAs nothing to worry about
6 June 2018 - Regulation and compliance. It is the talk of the town at the moment. However, adviser Jon-Paul Hale explains why he is deeply concerned with the continued attitudes between advisers within the financial services industry,
AFA population shrinks
15 May 2018 - Thirty more authorised financial advisers left the industry in the 12 months to June 30 last year than joined it, new data just released from the Financial Markets Authority shows.
Few takers for advice - but retirees rue missed opportunity
7 December 2017 - Many retirees regret not taking financial advice, but it’s not easy to get people who need it to take an interest, data shows.
Working group outlines new code's principles
1 December 2017 - Investment advisers look unlikely to need to meet higher competence standards under the new code of conduct for the industry.
New minister gets into client first debate
27 November 2017 - New Commerce Minister Kris Faafoi says he’s less worried about whether New Zealand has enough financial advisers to cater for the population – and more whether the financial advisers it has are putting their clients first.
Roboadvice green light 'better late than never'
17 November 2017 - Work is progressing on the exemption that will allow personalised roboadvice, or digital advice, in New Zealand. But one law firm says it's a case of "better late than never".
Advisers could do better by women: AMP
13 November 2017 - Financial advisers could do more to boost the confidence of women accessing their services, AMP Financial Services general manager of advice and sales Therese Singleton says.
Quality mark questions
9 November 2017 - A quality mark system is coming - but what will it mean, and how will it fit with the CFP designation?
New code's wider scope helps advisers: Chairman
19 October 2017 - Authorised financial advisers will benefit from being part of an industry fully bound by a code of conduct, the chairman of the working group developing the new code says.
FMA fast-tracks roboadvice
18 October 2017 - Advisers can expect to see roboadvice in the New Zealand market next year, and the country’s banks and product providers are already developing their platforms.
Getting to Know: Murray Harris
29 September 2017 - Murray Harris says financial advice is about much more than money and investments. But his time with the world's super-wealthy has given him added appreciation of both.
Deadline looms for information returns
28 September 2017 - Authorised financial advisers have until the end of this week to file their annual information returns – but there’s scepticism about what the exercise provides.
Getting to Know: Reagan Bax
25 August 2017 - Is Reagan Bax, brother of model Kylie Bax, the only member of the NZ financial advice sector to have played golf with Donald Trump?
Adviser wants 'gold standard' for industry
25 August 2017 - A financial adviser with trans-Tasman experience says New Zealand advisers are subject to insufficient regulation, compared to their Australian counterparts.
No fine for QROPS adviser who breached code
23 August 2017 - A financial adviser has been censured and ordered to operate under supervision for at least six months after being found to have breached the code of conduct.
QFEs get licensing head-start
15 August 2017 - Dealer groups and adviser networks may opt for financial advice provider status (FAP) under the new legislation, but it is expected to be an easier transition for existing qualifying financial entities (QFEs).
Dale-Jones happy with Code Working Group
9 August 2017 - The chairman of the Code Working Group, Angus Dale-Jones, responds to criticism of the make up of the group and also outlines its plans.
Dale-Jones: Judge us on our transparency
9 August 2017 - The chairman of the working group set up to develop a new industry code of conduct has deflected criticism of a lack of adviser involvement.
Milestone day for financial advice in New Zealand
3 August 2017 - A new bill to replace the Financial Advisers Act was to be introduced on Thursday, Commerce Minister Jacqui Dean announced at the National Advisers Conference.
Milestone day for financial advice in New Zealand
3 August 2017 - A new bill to replace the Financial Advisers Act was to be introduced on Thursday, Commerce Minister Jacqui Dean announced at the National Advisers Conference.
Advisers should be whistle-blowers
27 July 2017 - Advisers are blowing the whistle on each other – and industry commentators say that’s to be encouraged.
Lack of adviser voice 'scary'
19 July 2017 - Mike Newton, of advice firm Newton Ross, told Good Returns it was scary that none of the nine people chosen to develop the new code were financial advisers.
Review a resounding win for the 'big end of town'
19 July 2017 - Murray Weatherston, a founding member of SIFA, talks to us about the Financial Adviser Review Act, where it’s going and some of his thoughts on it.
Committee argues for level playing field for advisers
12 July 2017 - Moves to allow roboadvice must ensure that providers are held to the same standards as authorised financial advisers, the Code Committee says.
MBIE: Advisers will be consulted
11 July 2017 - The Ministry of Business, Innovation and Employment has responded to adviser concerns about a lack of an independent advice practitioner in the working group that will develop the new code of conduct for the sector.
FMA rules could stop KiwiSaver robo before it starts
6 July 2017 - Plans that would allow roboadvice to enter the New Zealand market as early as next year may stop KiwiSaver providers getting involved.
New AML classification for financial advisers - what changes?
5 July 2017 - Advisers have had their AML risk assessment downgraded but don’t expect that to translate into any lesser regulatory requirements.
FMA warns code changes must be adopted within months
15 November 2016 - Advisers must have their business practices updated in line with the new Code of Conduct requirements by March 1, the Financial Markets Authority has warned.
Information returns due
19 September 2016 - The prospect that the AFA designation will soon be removed does not allow advisers to skimp on filling out this year’s information returns. The AFA information...
Advisers 'must shake off product ties'
10 August 2016 - Advisers are being told they must find a way to disconnect the advice they give from the sale of products - as new statistics show the bulk of AFAs are still largely paid by commission.
Adviser numbers drop
4 August 2016 - The number of New Zealanders accessing financial advice is growing, but not fast enough for the Financial Markets Authority's liking.
Building a new advice process – Start With A Question
28 June 2016 - Just say for a moment that one of the outcomes of the Financial Advisers Act Review is that most RFAs will have to meet the requirements of the AFA Code of Practice.
New adviser association - yes, no, maybe?
17 June 2016 - Mortgage advisers have been asked what they thought about the idea of a new association to represent all the various disciplines. Here's what people are...
Scam email targets finance sector
14 June 2016 - If you get an email purporting to be from the Reserve Bank, asking you to click a link to view “new transaction guidelines”, ignore it. RBNZ is warning...
[EXCLUSIVE] Banks capture most new AFAs
3 June 2016 - Research by Good Returns and ASSET Magazine shows the biggest proportion of new AFAs in the past couple of years have ended up in banks.
Adviser helps train up new AFAs
2 June 2016 - One financial adviser is doing his bit to help boost the number of AFAs in New Zealand.
[VIDEO] Paul Fuller tells mortgage advisers what life's like as an AFA
9 April 2016 - In this video one of New Zealand's top mortgage advisers, Paul Fuller, talks about giving mortgage advice as an AFA.
Squirrel offer open
4 April 2016 - Squirrel’s equity crowdfunding offer has been made open to the public. It had previously been available via Snowball Effect only to Squirrel’s database...
Where is the line for 'disrepute', IFA asks
1 April 2016 - The Institute of Financial Advisers wants more clarity around authorised financial advisers’ obligation not to bring the industry into disrepute.
Advisers slow to file renewals
23 March 2016 - Three authorised financial advisers (AFAs) have opted not to renew their authorisations since they fell due but many are leaving it too late to get their applications in, the Financial Markets Authority (FMA) says.
Adviser career path needed
22 December 2015 - Some major changes will have to happen to New Zealand’s financial advice sector if it is to follow the United States’ lead and grow, commentators say.
AFA market loses more than 100 advisers in a year
3 September 2015 - UPDATED There are concerns that the number of new AFAs being authorised by the Financial Markets Authority is not keeping up with the number who are terminating their authorisation.
Defence Force seeks AFAs
18 May 2015 - The New Zealand Defence Force wants financial advisers. It has put out a request for proposals via the Government’s Gets website, which promotes available...
Principles approach to FAA review likely
27 February 2015 - Advice accessibility and suitability, as well as issues of conflict of interest, are likely to be top of the list to address as the Financial Advisers Act is put up for review, a regulation expert says.
Where are the financial advisers?
26 February 2015 - One of the country’s biggest banks is having trouble recruiting financial advisers.