[The Wrap] What future financial advice firms could look like
For the past two weeks, since Commerce Minister Kris Faafoi approved the new Code of Conduct for financial advisers, it’s been the most talked about topic.
It’s been interesting to see all the discussions going on amongst advisers and providers about what it means. (The answer is no-one really knows)
This week I have been at the Mortgage and Insurance Link conference. Bankers were quite open that they were all grappling with how the new landscape will look.
One view circulating was that a mortgage adviser could form their own FAP and then get accredited with banks, rather than having to go through an aggregation groups as they currently do.
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