27 May 2005
Should Financial Advisers be regulated?
Financial planning magazine ASSET has today launched a website to discuss the important issue of financial intermediary
regulation. The website address is www.assetmagazine.co.nz
Earlier this week a Government-appointed Task Force launched an Options Paper. This paper outlines issues facing
advisers and also offers four different options for regulating the advisory industry.
ASSET magazine editor Philip Macalister says that adviser regulation is one of the biggest issues facing the financial
services industry.
“Whatever changes stem from the Task Force are likely to significantly change the face of the industry,” Mr Macalister
says.
It is also a major issue for the savings public. Mr Macalister agrees with the view expressed by the Task Force that
having a robust advisory industry is a crucial step towards getting New Zealanders to increase their savings rate.
While much of the public and media attention is on recent Budget announcements such as the Government’s workplace
savings scheme, Kiwi Saver, and tax changes to managed funds, adviser regulation appears to have been ignored.
Mr Macalister says it is important that consumers as well as the savings industry get involved in this debate and he
encourages people to attend one of the Task Force’s consultation meetings which are being held around the country over
the next couple of weeks.
“In order to facilitate the debate and to help achieve some good outcomes we have established this website,” he says.
ASSET is the number one monthly magazine for financial advisers in New Zealand. It is published by Tarawera Publishing
Ltd which also produces leading financial planning website www.goodreturns.co.nz .
www.goodreturns.co.nz also organises and runs the annual Financial Planner of the Year Awards.
ENDS