Consumer NZ Report Disappointing Says Financial Advice NZ

4 June 2019

Consumer NZ Report Disappointing Says Financial Advice New Zealand

The report - Fixing the Insurance Market - released today by Consumer NZ highlights the importance of seeking quality advice through an adviser who belongs to an Association committed to quality outcomes for New Zealanders, says Katrina Shanks, CEO of Financial Advice New Zealand.

“The Consumer NZ Report includes some disappointing findings; disappointing for New Zealanders and disappointing for quality advisers who are committed to good outcomes for their clients,” says Shanks.

“Members of Financial Advice New Zealand are committed to professional standards, to ongoing professional development and to improvements across the sector to help build public confidence and trust.”

“Quality advice can make a meaningful and very positive difference. We encourage New Zealanders to engage with advisers who belong to an Association with professional standards for their members. When you engage a builder to build your home, you would seek a master or certified builder as they abide by professional standards. The same applies to financial advice.”

Building public confidence and trust in the sector is essential, says Shanks. “Ensuring individuals and families have the right protection in place for the what-ifs in life is crucial for the financial security of New Zealanders. And to achieve this, we need to build public confidence the sector.”

“We expect that the changes to the regulatory regime and the proactive steps taken already by the industry will have a positive impact on increasing consumer confidence’.

Financial Advice New Zealand and our members are committed to continually addressing any areas for improvement and will take on board the feedback from the Consumer NZ Report.

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