New rules for financial advice given in New Zealand have come into effect since 2021. Under the Financial Services Legislation Amendment Act, all financial advisers must meet the same standards and be subject to the same professional code. The intent of removing the (previously) tiered system and standardisation across the entire financial advisory industry is to give consumers (investors) more certainty and protection. The effects of the rule change, at least during this transitionary period, mean that not all financial advice is created equally. Investors still have to be clear-eyed about the inherent risks of the market lest they become misguided. Given how frequently property investors consume financial advice, the impetus is to take extra care.
Dial into this webinar to learn how the new rules apply to you and how you can use that knowledge to maximise the utilities of your financial advisers.
Topics to cover
What is financial advice, and how does the FMA regulate it in the mortgage, insurance and property coaching/mentoring context;
Overview of the new regime, including protections and risks for property investors who receive financial advice from brokers, strategists, coaches and even real estate agents;
FMA monitoring programme outcomes so far, how the property sector is faring under the new rules and salient observations to share with investors;
How to spot and report scams; and
Tips showing investors (who consume financial advice) how to take care, work with the right provider and handle complaints.
Both Andy and Romil are managers from the FMA.
The webinar access link will be emailed to you immediately after registration. Please ensure your browser has enabled popup windows for the registration to flow through seamlessly.