Advisers must always act with knowledge, competence and skill in their dealings with clients.   Replacing a financial product, even when it is clearly in the client’s interests, can be a higher-risk area for both you and your client.

When it comes to recommending to clients replacement insurance (product or changing an insurance provider) what are the guidelines and processes you follow?  

Angi & Andrew will take you through:

• Your personal obligations under the new law and code

• demonstrate how you give priority to your clients interests, identifying and disclosing your interests

• Product and provider selection process

• FMA guidelines in the area of replacement business

• Documentation so you can defend your recommendations and demonstrate you are meeting your legal obligations

Andrew and Angi will discuss the key points and your duties under the revised Financial Markets Conduct Act and the draft Code Standards - and your personal obligations and how they will impact your advice, especially when recommending replacement insurance.

About the Presenters:

Angi Mann, BA BBS Cert Adult Education, has extensive experience in financial services and compliance is a qualified Professional IQ College NZQA assessor and AML/CFT auditor.

Andrew Gunn BCOM MBA, Learning & Development Manager.  Andrew has worked in this role for the IFA and now the Association and has assisted in the submissions to MBIE regarding the ‘Options’ and ‘Issues‘ Papers, the draft FSLAB Bill, Financial Advice Code and Disclosure Regulations.  Andrew is now working on a series of ‘workbooks’ to assist Members meet their obligations in the new financial services regime.

CPD 1.0 hour structured   Area : Insurance and Risk Management
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