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Professional Advice Knowledge Hub

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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.

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

Get In Shape Advice Summit 2021 Update

Get In Shape Advice Summits 2021 - Christchurch and Dunedin postponed until April 2021.

Following the Government announcements in response to Covid-19 on Sunday 14 February, the face to face Get In Shape Advice Summits planned for Christchurch on 17 February and Dunedin on 18 February have been postponed until April 2021.

We will be in touch with all those who have registered. All tickets are fully transferable to the new event dates. Following the complimentary bonus online session on 17 February 2021 that covered the need to know information ahead of the 15 March 2021 transition to FSLAA, the programme for the Christchurch and Dunedin events will be updated.

Watch this space for more information as we confirm the details and programme or get in touch if you have any queries.

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.

Disclosure Guide for Financial Advisers

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 Advisers.

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.

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.

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 13	Session 12	Session 11	Session 10	Session 9
Welcome and introduction to the series from Mark Banicevich	27 November 2020: Get In Shape: Session 13 - A 2020 Session Wrap & Look ahead to 2021	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

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
13. Get In Shape: Session 13 - A 2020 Session Wrap & Look ahead to 2021

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.

FSLAA

CODE OF CONDUCT

DISCLOSURE

LICENSING

FEES & LEVIES

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>