I always thought Commerce was a pretty important role in any government, especially a National-led one. However last week I was proved wrong. Paul Goldsmith was appointed the new Commerce and Consumer Affairs Minister, taking over from Craig Foss. 

In this new Parliament Goldsmith is ranked 25th, the lowest ranked minister, and is outside of Cabinet. 

The Weekly Wrap a couple of weeks ago noted that Foss was a minister missing in action when it came to financial services. What can we expect from Goldsmith? Well most people will know him as the ghost candidate who tried to hide and not win the Epsom electorate so that Act could remain in Parliament.  A web search of his credentials doesn't reveal too much. He has been a press secretary and speech writer to various MPs and ministers, has worked in public relations and has an MA in history. 

He did chair the Finance and Expenditure Select committee and he is best described as being out on the right hand side of the political spectrum.

With a review of the Financial Advisers Act coming up next year it is important that there is a Commerce Minister well-versed and connected with the financial services sector. 

It is a little bit of a worry that Commerce is not in Cabinet. 

This week is the start of Money Week. The initiative appears to be getting some momentum and there are many events planned. Check out the website to see what is happening. One event we are looking forward to the "Heavy Hitters" debate in Auckland later this week. FMA chief executive Rob Everret is one of the speakers and I understand he will be putting the case for advice. One of the other speakers is FMA board member Mary Holm who is renowned for her passion for passive funds and her views on advice. (She thinks the only financial advisers to trust are ones who charge fees).

Later today we expect to hear some news about the IFA and PAA working together. Check back into Good Returns later today to find out what's happening.

There are lots of interesting jobs here.