FMA-RBNZ report update part of the process towards new conduct law
Structural issues of licensing explored

Modelling change in the advice market through transition

We have spent some time modelling change in the advice market through transition. But perhaps more interesting is trying to create a predictive model for which out of a team of advisers will successfully navigate the changing requirements. For that we abandoned technical considerations such as detailed analysis of structuring options and requirements, and shifted to a view of capability and motivation. The highly capable and highly motivated are a delight - pretty much whatever happens they are both willing to comply and have good ability to bring to bear on the many business and relationship challenges that come up. Likewise, team managers know that if they have been slow to fire the unmotivated team members that lack ability, they know that the time is upon them. More difficult are how to deal with mismatches between ability and motivation. If you run an team of advisers then how you motivate the capable, or improve the skills and control exhibited by those really driven by financial success are the challenges. But even the act of considering which categories each of your people are in may help you to make some decisions. 

Evaluating your adviser team members

 

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