Industry body Financial Advice NZ has confirmed ex-pat Kiwi, Nick Hakes, will succeed Katrina Shanks as permanent chief executive.
Hakes is set to assume the new role at the end of February with Tony Dench holding the fort in the meantime.
Dench took over in an interim capacity in November as inaugural Financial Advice NZ chief, Shanks, ended a five-year stint with the organisation to take on the Melbourne-based role leading the Australian and New Zealand Institute of Insurance and Finance.
The incoming NZ industry association head has spent more than 20 years offshore, serving the last five years or so in Singapore as director market development Asia for education provider, Kaplan Professional.
However, Hakes previously worked in the Australian financial advice sector until 2018 including almost 10 years with MLC followed by roles in industry bodies.
In a statement, Financial Advice NZ chair, Heather Roy, said: “Nick understands the value of the collective voice of financial advisers and brings a wealth of international experience and expertise within the wealth management and financial advice industry, with an extensive background in building strategic partnerships, adviser-focused professional development frameworks, and membership growth for professional adviser bodies.”
Financial Advice NZ formed in 2018 as an amalgam of three predecessor organisations: the Professional Advisers Association, the Institute of Financial Advice and the NZ Financial Advisers Association.
Meanwhile, the Financial Services Council (FSC) Professional Advice Committee has thrown its weight behind mooted changes to the New Zealand Certificate in Financial Services Level 5 qualification.
In a release, the FSC says the advice members support moves to update the Level 5 certificate – the key qualification to practice as a financial adviser in NZ.
“As part of the review, the Professional Advice community would like to see changes to have a greater emphasis on soft skills, interpersonal skills, and ethics,” the FSC release says.
Government is currently consulting on proposed changes to the Level 5 certificate that include more specific reference ethics and interpersonal skills as well as other updates to bring the qualification into line with the financial advice code of conduct.
Consultation closes on February 9.
The FSC is also kicking off its 2024 event cycle with an ‘Outlook’ symposium on January 31 featuring newly installed Commerce Minister, Andrew Bayly, and Financial Markets Authority chief, Samantha Barrass.
Chief economists, Sharon Zollner (ANZ) and Kelvin Davidson (Corelogic NZ) will also join with Craigs investment director, Mark Lister, in a panel discussion at the FSC gathering.
In December the FSC canned an inaugural trans-Tasman FSC conference that was originally slated for March this year following Australian logistical issues.