Professional Advice Knowledge Hub

Welcome to the Professional Advice Knowledge Hub where the FSC provides up to date information on regulation changes, webinars, research and other resources for those working in and around financial advice and financial services.

This page links to Navigating Regulation, our up to date information on the Financial Services Legislation Amendment Act (FSLAA) due to commence on 15 March 2021, Get in Shape 2020, our 2020 advice summit events and webinar resources and the Get In Shape 2021 Advice Summits.

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

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Disclosure Guide for Financial Advisors  As part of the Get in Shape series, designed to support the advice community through the changes as part of the Financial Services Legislation Amendment Act (FSLAA), the Financial Services Council has developed a new Disclosure Guide For Financial Advisors. The Disclosure Guide takes readers through the key process of preparing clear information for consumers, from the general requirements of the legislation to complaint handling.

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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 FSLAA regime. The 45 minute webinars run at 10am every other Friday 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 12	Session 11	Session 10	Session 9	Session 8
Welcome and introduction to the series from Mark Banicevich	30 October 2020: Get in Shape Session 11: New disclosure regulations: practical implementation	2 October 2020: Get in Shape Session 10: Privacy - Reviewing your obligations under the Privacy Act	18 September 2020: FAP Risk Management	4 September 2020: Governance and Director's duties	21 August 2020: Technology-making your processes more effective

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  (View Disclosure Guide For Financial Advisors)
12. Get In Shape Session 12 Understanding conflicts of interest and managing gifts and incentives

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Navigating Regulation: Financial Services Legislation Amendment Act

The Financial Services Legislation Amendment Act (FSLAA) is major legislation change that will affect anyone that gives financial advice in New Zealand and comes into force on 15 March 2021.

There are four key elements to the FSLAA changes being introduced by the New Zealand Government: Code of Conduct, Disclosure, Licensing and Fees & Levies. The changes are designed to improve financial advice for consumers across New Zealand. 

The Navigating Regulation resources have been designed to keep Financial Advisers up-to-date on the legislation and provide support to prepare for the changes ahead, and 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 FSLAA, Code of Conduct, Disclosure, Licensing and Fees & Levies by clicking the links below.

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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.

 

Money & You 2	Money & You 1	Financial Resilience
August 2020: Financial Advice? The $1.5 Million Question. Read more >	June 2020: It’s not about the money – Kiwis’ tricky relationship with their finances revealed. Read more >	May 2020: Financial Resilience Index: Tracking wellbeing and money worries. Read more >

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

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Get in Shape Advice Summits 2020

The Get In Shape Advice Summits were held across New Zealand in February 2020 and featured a welcome from Minister Kris Faafoi, and representatives from MBIE, the FMA and industry. Find out more below or on the Get In Shape event site.
 

Summit Wrap

Minister Faafoi Welcome

Minister Faafoi Q&A

Regulatory Panel

Adviser Panel

Advice 2020 Panel

 

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