Financial Advice New Zealand Announcement Of New Board Members

Financial Advice New Zealand yesterday announced the appointment of two Independent Directors and the elected Risk Practitioner Director.

At its Annual General Meeting yesterday, the Board told Members it was thrilled with the calibre of the 63 people who applied for the position of Independent Director of Financial Advice New Zealand. This demonstrates Financial Advice New Zealand’s growing profile and reputation, and the respect it has earned for financial advisers and financial advice.

This year, the Board recognised Financial Advice New Zealand had moved to a more mature, and sustainable, phase of its development. A phase in which achieving the Constitution’s mandate - to focus on its objectives of promoting the value of financial advice to consumers; advocating for financial advisers and for financial advice; and on building professional standards for financial advisers – will be critical. Therefore, they sought the appointment of two additional Independent Directors who bring a unique set of skills and experiences.

The two Independent Directors are The Honourable Heather Roy and David Kneebone.

Hon. Heather Roy is one of New Zealand’s most sought-after directors in the not-for-profit sector. She brings a wealth of governance experience and, as a former Minister of Consumer Affairs, a thorough understanding of the machinery of Government. Heather has an attitude of inclusiveness that will ensure members remain the Board’s top priority. Heather will be appointed for a term of three years.

David Kneebone has 15 years’ experience increasing the public’s financial literacy in three countries. As Executive Director for NZ's Commission for Financial Capability and most recently as General Manager/Director for the Investor & Financial Education Council (IFEC) in Hong Kong. David will bring the voice of the consumer to the Board. To provide for rotation of directors, David will be appointed for a term of two years.

The position of Risk Practitioner Director of Financial Advice NZ was contested by five experienced financial advisers.

Cecilia Farrow was elected the Practitioner Director. Cecilia held the role of the Risk Practitioner Director on the Financial Advice New Zealand Board for the past two years and was seeking re-election to this position. Cecilia has a 25-year career in the Financial Services sector and has committed her efforts to lifting the standards of advice in the life risk sector.

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