The mark is awarded to Financial Advice NZ members who show they have committed to qualifications and continuing professional development obligations at a level higher than that required by New Zealand law and code.

A Trusted Adviser of Financial Advice NZ will:

• have a Level 5 qualification in Financial Services, including the relevant strands for the advice areas provided, or a higher qualification recognised by Financial Advice NZ
• be a current financial adviser providing regulated financial advice to retail clients and have been for at least three years
• have maintained an annual Professional Development Plan and attained a minimum of 20 hours relevant structured continuing professional development every year
• have attended a Financial Advice NZ or endorsed Ethics in Financial Services three-hour workshop every three years
• be protected by appropriate professional indemnity Insurance.

“We’re delighted to be able to present this initiative today,” Financial Advice New Zealand chief executive Katrina Shanks says.

“The public launch of the mark is scheduled for February 2021 to coincide with the new financial advice regime coming into effect the following month.

“At that time, when the AFA and RFA designations disappear, qualifying Financial Advice NZ members will have this new designation to show the public their high level of qualification, experience and ethics has been recognised by a professional body.

“Along with those advisers who have already gained our highest pinnacle marks of CFP and CLU, those with the Trusted Adviser mark can differentiate themselves from the market.

Applications are open now so qualifying advisers can have the Trusted Adviser mark in time for the new regime on 15 March 2021.