Time to promote advice: Dodds

Fred Dodds said his organisation had been visited by the Ministry of Business, Innovation and Employment in preparation for next year’s review of the Financial Advisers Act.

He said they were interested in things such as investor confidence, the complexity of regulation, the quality of advice and consumers’ access to advice, and wanted to eventually canvass the public as well as industry opinion.

But Dodds said one of the issues for the sector was a lack of promotion of personalised financial advice. “If you don’t promote it, it’s not going to happen.”

He called for sector players to work together to make it happen, including the FMA and Sorted.