Adviser Business Compliance started in 2013. Over the last 5 years we have taken on 3 contractors to assist with the growth of the business. This year we plan to expand this to 5. There will be new services required by the compliance requirements that will come into effect as a consequence of the Financial Services Legislation Amendment Bill. We will also have more AML/CFT clients as a result of phase 2 of the Act that will include Accountant and Lawyers etc.
Director and business owner
I started my career in the financial services sector in Wellington 48 years ago.
After a move to Auckland in 1984, I became a back office Manager for a large US Life Company. I started selling risk and investment products in 1986. This led to me specialising in the investment advice and financial planning area in the early 1990’s.
I moved to full financial planning advice from 1994 with a major nationwide financial planning firm, and then to the Banking sector as an investment adviser until 2008 - when I started in the compliance side of the financial advice industry.
As the first Senior Adviser appointed in Auckland, I helped establish the initial framework for AFA monitoring at FMA. Much of that initial work has been embedded into the Monitoring Framework now being used across the country. This can be a basic Adviser Business Statement (ABS) review right through to a more in-depth compliance assessment that looks at client files and reviews how an AFA is meeting the requirements of the law and Code of Professional Conduct.