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TOWER to launch new Expert Series for advisers

Media Release
26 November 2012

TOWER to launch new Expert Series for advisers

Insurer and wealth manager TOWER is to launch a new Expert Series aimed at helping advisers better understand their duties and obligations under the Care, Diligence and Skill requirements set out under recent guidelines issued by the Financial Markets Authority (FMA).

The Expert Series presented by TOWER will feature speakers from the FMA, Financial Services Complaints Ltd (FSCL) and Chatswood Consulting.

TOWER General Manager of Sales and Marketing Chris Jackson said the initiative was in response to strong demand from the adviser community that works with TOWER.

“We work with more than 2200 advisers throughout New Zealand, many of whom have told us that they would appreciate more detailed information about these requirements. We thought it would be really useful to coordinate a group of experts who can share their knowledge, in turn helping advisers increase theirs.”

Mr Jackson said that TOWER was expected strong attendance given the powerful speaker roster.

“Advisers clearly have a strong interest in this subject and of course the opportunity to hear from the FMA and FSCL directly is an opportunity too good to miss.”

The Professional Advisers Association has endorsed the concept, saying: “We congratulate TOWER on this initiative and look forward to the sessions.”

The Expert Series speakers will include:

Financial Markets Authority - Derek Grantham. Derek is the Manager of Retail Surveillance and Monitoring for the Financial Markets Authority. In this role he is responsible for enforcing the FAA guidelines in the adviser market. Derek is our keynote speaker for the presentation and his subject will be to examine the recently published care, diligence, and skill examples for the sale of insurance and replacement business. Highlighting the requirements in detail and explaining some of the examples in the recent guidance he will explore how they illustrate meeting the requirements of the Financial Advisers Act. His presentation will include reference to the requirement to not be misleading, deceptive, or confusing.

Financial Services Complaints Limited - Susan Taylor. Susan is the CEO of FSCL, one of the largest approved complaints resolution organisations operating in the market. Susan will discuss recent complaints illustrating the real world risks of incomplete or inaccurate advice. The requirements of the advice process will be connected to the real-world cases where clients complain illustrating advice failures, communication failures, and opportunities to improve processes to avoid complaints.

Chatswood Consulting Ltd – Russell Hutchinson and Rob Dowler. Chatswood provide consulting services to the industry and both Russell and Rob are well known within the adviser community. Chatswood provides insurers and advisers with compliance advice and tools. Together they will cover practical ways to meet your responsibilities. They will also manage the question and answer session, and cover subjects including product comparison, explanations of risks and risk management, financial stability ratings and the role of opinion in advice.

Content will also be provided by The Reserve Bank and all speakers will be available for questions both during and after the presentations. Structured Continuing Professional Development credits will be available to attendees.

Where and when:

Christchurch Wellington Auckland
8:30am for 9:00am
5 December 2012
Riccarton Park
165 Racecourse Road 8:30am for 9:00am
6 December 2012
Westpac Stadium
Waterloo Quay 8:30am for 9:00am
7 December 2012
Ellerslie Event Centre
80 Ascot Avenue


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