Financial advisers face new 'customer-first' obligations

Tue, 12 Jul 2016

By Paul McBeth July 12 (BusinessDesk) - All financial advice will have to put the interests of the customer first in Commerce Minister Paul Goldsmith's proposed update to the five-year-old framework. Goldsmith plans to do away with the current adviser designations which he says have been "unsatisfactory" in that some advisers are obliged to disclose potential conflicts of interest and act in their customers' best interests, but others are not. Under the current regime, Authorised Financial Advisers have to meet certain education and e...

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