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

 

Get financial advice

4 September 2012

Get financial advice

As part of Money Week (2 – 8 September), the New Zealand Bankers’ Association is encouraging people to get financial advice on how best to manage their money.

“Getting advice about your finances and how best to meet your needs and aspirations is a good idea for everyone. It’s about making informed decisions to manage your debt, build your savings and make good investments.

“There’s a range of advice available, from free budgeting advice to professional investment advice, which can help you plan goals and get you where you want to go.

“A good start is to talk to your bank about whether your accounts are right for you. Banks are happy to talk about how their products and services best suit your individual circumstances,” says New Zealand Bankers’ Association chief executive Kirk Hope.

“It pays to be clear about the benefits and any associated risks of the financial products and services you’re using.”

The provision of financial advice is regulated by the Financial Advisers Act 2008. Under the law there are three types of advisers. Almost all retail banks are Qualifying Financial Entities (QFEs) and their advisers are qualified to talk to customers about basic products such as accounts and simple investment products. Registered Financial Advisers (RFAs) can also advise on those products. For advice on investments like KiwiSaver, managed funds and more complex products, you need to talk to an Authorised Financial Adviser (AFA).

All QFEs (the organisation, not the advisers who work for them), and all RFAs and AFAs need to be registered. To check if your adviser is registered, go to the Companies Office Financial Service Providers Register at http://www.business.govt.nz/fsp/.

ENDS


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 




Barfoot and Thompson: Auckland Housing Prices Shrug Off Winter Concerns

Auckland house prices shrugged off the normal winter downturn, concerns about increasing prices and warnings of possible future interest rate rises in July.
“Mounting concerns about the prices being paid and possible future interest rate increases did nothing to dampen July trading... More>>



Stats NZ: Sharp Falls In Unemployment And Underutilisation

The seasonally adjusted unemployment and underutilisation rates fell to 4.0 and 10.5 percent, respectively, in the June 2021 quarter, Stats NZ said today. The unemployment rate continued to fall from its recent peak of 5.3 percent in the September 2020 quarter... More>>


FIRST Union: Do Shareholders Realise Marsden Point Conversion Could Cost More Than Half A Billion Dollars?

FIRST Union, the union representing workers at Refining NZ, are querying whether shareholders voting on Friday on whether to convert the Marsden Point refinery to an import-only terminal realise the conversion could cost $650-700 million dollars... More>>


Transport: July 2021 New Vehicle Registrations Boosted By EV Rebate Scheme
Motor Industry Association Chief Executive David Crawford says that July 2021 sales of new vehicles were boosted by the recently introduced rebate scheme. July 2021 registrations were 15,053 units compared to 12,263 units for July 2020... More>>



ASB: New Support Finder Tool Helps Connect Customers With Thousands In Government Support

ASB research alongside benefit numbers from the Ministry of Social Development shows an increased number of Kiwis are struggling financially, and many may not be aware they’re eligible for government support... More>>


Housing: New Home Consents Continue To Break Records

A record 44,299 new homes were consented in the year ended June 2021, Stats NZ said today. “The annual number of new homes consented rose again in the June 2021 year, the fourth consecutive month of rises,” construction statistics manager Michael Heslop said... More>>