Professional Advice Knowledge Hub

Welcome to the Professional Advice Knowledge Hub where the FSC provides up to date information on regulation, webinars, research and other resources for those working in and around financial advice and financial services. These pages contain summaries of the Financial Markets Conduct Act 2013 (FMCA) as it was modified by the Financial Services Legislation Amendment Act 2019 (FSLAA) from 15 March 2021.

Keep up to date by signing up for FSC Updates, including our regular advice community updates and messages.

Disclosure Guide for Financial Advisers As part of the Get in Shape series, designed to help financial advisers understand their disclosure obligations under the Financial Markets Conduct Act 2013 (FMCA), the Financial Services Council has developed a new Disclosure Guide For Financial Advisers. The Disclosure Guide takes readers through the process of preparing clear information for consumers, outlining the general requirements of the regulations and providing examples at each stage of disclosure.

---

Get in Shape Advice Summit Series

The Get In Shape Advice Summits were held across New Zealand in 2020 and 2021, and featured a welcome from the Minister for Commerce and Consumer Affairs, and representatives from MBIE, the FMA and industry. Click on the relevant year to see videos and other resources from the sessions.

• 2020 Get In Shape Advice Summit Wrap
• 2021 Get In Shape Advice Summit Wrap
   

---

Get in Shape Webinar Series

The FSC is running a series of Get In Shape webinars to keep the advice community updated and help transition to the new FMCA regime. The 45 minute webinars run monthly on Fridays at 9:30am and you can register for the next session here. Find out more below, sign up to receive updates or watch previous sessions via YouTube.

Introduction	Session 20	Session 19	Session 18	Session 17	Session 16
Welcome and introduction to the series from Mark Banicevich	1 October 2021: Get In Shape Session 20 - Commercial Considerations and Financial Management	27 August 2021: Get In Shape Session 19 - Business Continuity Plans and Cyber Security	23 July 2021: Get In Shape Session 18 - The Code of Conduct and Customer Journey	25 June 2021: Get In Shape Session 17 - Navigating the education obligations	28 May 2021: Get In Shape: Session 16 - Advice process, documents and compliance

Session Presentations:

1. Licensing and Business Structures
2. Adviser and FAP Obligations on Day 1 of the new regime
3. Preparing contracts: FAPs, suppliers and clients
4. Compliance with FAA between now and March 15 2021
5. Hear directly from the FMA, MBIE and Code Working Group (no presentation)
6. An opportunity to redesign your advice process
7. Using technology to make your processes more effective and Guidance note for choosing technology
8. Governance & director's duties in small advice businesses
9. FAP Risk Management
10. Privacy - Reviewing your obligations under the Privacy Act
11. New disclosure regulations: practical implementation and Disclosure Guide For Financial Advisors
12. Get In Shape Session 12 Understanding conflicts of interest and managing gifts and incentives
13. Get In Shape: Session 13 - A 2020 Session Wrap & Look ahead to 2021
14. Get In Shape: Session 14 - Adapting to the new regime
15. Get In Shape: Session 15 - Implementing the new regime in your business
16. Get In Shape: Session 16 - Advice process, documents and compliance
17. Get In Shape: Session 17 - Navigating the education obligations
18. Get In Shape: Session 18 - The Code of Conduct and Customer Journey
19. Get In Shape: Session 19 - Business Continuity Plans and Cyber Security
20. Get In Shape: Session 20 - Commercial Considerations and Financial Management

---

Navigating Regulation: Financial Markets Conduct Act 2013

The Financial Services Legislation Amendment Act 2019 (FSLAA) brought about a major legislation change that affected anyone who gives financial advice in New Zealand. It came into force on 15 March 2021 by amending the Financial Markets Conduct Act 2013 (FMCA).

There are five key elements to the FMCA introduced by the Financial Services Legislation Amendment Act: the Act itself, Code of Conduct, Disclosure, Licensing and Fees & Levies. The changes are designed to improve financial advice for consumers across New Zealand. 

These resources were designed to keep Financial Advisers up-to-date on the legislation and provide support to prepare for the changes ahead, and they will be updated regularly. The FSC send regular messages to the financial advice community - Sign-up below to receive updates to your inbox.

Read more about FMCA, Code of Conduct, Disclosure, Licensing and Fees & Levies by clicking the links below.

Helping New Zealand’s advisers to grow – tools, tips and insights

Kate McCallum and Julia Newbould, the joint authors of The Joy of Money: The Australian Women’s Guide to Financial Independence, sat down with the FSC's Clarissa Hirst to discuss their book and tips for financial advisers who want to bring more joy into the lives of their clients.

Watch or read the interview here.

---

Research

The latest research commissioned by the Financial Services Council provides a unique look at New Zealanders’ relationship with money and how it affects their decisions and wellbeing. The FSC surveyed 2000 Kiwis to get a comprehensive understanding of how New Zealanders feel about money, their level of knowledge about it, and how it impacts key areas of their lives. In addition, the FSC has undertaken research with the Professional Advice Community, Unlocking the Potential'. Read more below.

 

Unlocking the Potential	Money & You part 3	Money & You part 2	Money & You part 1	Financial Resilience Index
Financial Services Council latest research Unlocking the Potential of Financial Advice which was launched at Get In Shape 2021 by Richard Klipin, CEO, Financial Services Council. Read more >	The Financial Services Council is proud to release our latest research Money & You 3 - Breaking Through The Advice Barrier. The research was launched on 3 Dec 2020 by FSC CEO, Richard Klipin and Ryan Bessemer, CEO of Trustees Executors, our research partner. Read more >	In partnership with Trustees Executors, we are excited to launch the second report from our research 'Money & You'. Hear from our panelists as they explore the value of professional financial advice, and what we can learn from these findings. Read more>	In partnership with Trustees Executors, the FSC are pleased to launch the first consumer research report: 'Money & You - It's not about money, it's about you'. Read more>	The Financial Resilience Index tracks how Kiwis feel about finance. The research shows resilience of New Zealanders but also highlights a hit to job security, money worries and mental wellbeing during Covid-19 Read more>

See other Financial Services Council research including Life Insurance and KiwiSaver,
 

---