Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Allfinanz Sets Standards In Financial Advisory

12 July 2001

Allfinanz Brand Sets Standards In Financial Advisory Market

Financial services company, Sovereign, aims to create an impact in the financial advisor market with the relaunch the Colonial franchise channel under the new brand name, allfinanz.

The allfinanz brand is another result from the groundbreaking alliance between Sovereign and Colonial, which takes the best from both companies to meet the needs of a rapidly changing market. Talks between the franchise channel and Sovereign resulted in an agreement to relaunch the brand into the market with a view to create new standards.

The allfinanz brand will impact largely on the financial advisor market as it sets a high level of standards on all aspects of operations.

David Haak, Director of Distribution at Sovereign, says the relaunch of allfinanz is another example of Sovereign driving change in the market to lift standards of industry performance.

“Our belief is that the allfinanz franchise can be an outstanding provider of quality advice. In relaunching this channel, Sovereign is the only financial services company that has acted to set agreed standards for financial advisers”, Haak says.

“To ensure these standards are upheld, we are appointing a Standards Manager who will be available to work in each practice at least once a year. The allfinanz Standards Manager will help to enhance operating systems and performances, working in much the same way as an auditor would with a public company.

“Current trends in Australia and the UK reflect that financial planners are industry regulated much more strictly than in New Zealand. However, in keeping with these trends, we believe that there is a strong possibility that formal industry regulations will come into being in New Zealand in the future.

“If such regulation does come into being, Sovereign will be well prepared. We’ve taken the voluntary step to go down this track by proactively formalising our own high standards.”

The allfinanz brand and logo was officially launched today by top Sovereign and industry representatives at a function in Taupo.


© Scoop Media

Business Headlines | Sci-Tech Headlines


DIY: Kiwi Ingenuity And Masking Tape Saves Chick

Kiwi ingenuity and masking tape has saved a Kiwi chick after its egg was badly damaged endangering the chick's life. The egg was delivered to Kiwi Encounter at Rainbow Springs in Rotorua 14 days ago by a DOC worker with a large hole in its shell and against all odds has just successfully hatched. More>>


Trade: Key To Lead Mission To India; ASEAN FTA Review Announced

Prime Minister John Key will lead a trade delegation to India next week, saying the pursuit of a free trade agreement with the protectionist giant is "the primary reason we're going" but playing down the likelihood of early progress. More>>



MYOB: Digital Signatures Go Live

From today, Inland Revenue will begin accepting “digital signatures”, saving businesses and their accountants a huge amount of administration time and further reducing the need for pen and paper in the workplace. More>>

Oil Searches: Norway's Statoil Quits Reinga Basin

Statoil, the Norwegian state-owned oil company, has given up oil and gas exploration in Northland's Reinga Basin, saying the probably of a find was 'too low'. More>>


Modern Living: Auckland Development Blowouts Reminiscent Of Run Up To GFC

The collapse of property developments in Auckland is "almost groundhog day" to the run-up of the global financial crisis in 2007/2008 as banks refuse to fund projects due to blowouts in construction and labour costs, says John Kensington, the author of KPMG's Financial Institutions Performance Survey. More>>


Health: New Zealand's First ‘No Sugary Drinks’ Logo Unveiled

New Zealand’s first “no sugary drinks logo” has been unveiled at an event in Wellington... It will empower communities around New Zealand to lift their health and wellbeing and send a clear message about the damage caused by too much sugar in our diets. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news