For those of us in the financial services industry regulation has been at the front of our minds for a long time now and we are just about there, from 1st July 2011 the Act is fully in force!
What's this all about?
Well, the purpose of the Act says it all really - "This Act is to promote the sound and efficient delivery of financial adviser and broking services, and to encourage public confidence in the professionalism and integrity of financial advisers and brokers."
Advisers from Insurance People have always worked to the vision and mission of our founding Directors, and interestingly in a way they define what the Act is all about...
"Our group continue their focus on educating our clients on all products and services available to them; providing the best possible advice and direction to ensure each individual meets their goals."
"We strive to ensure our original mission is never lost, in essence it has always been about financial education, that is, we always wanted to help people - giving client the high level of service and knowledge they wanted, needed and deserved."
In fact, regulation means a whole lot more to both clients and advisers. For example, if we are to give advice now we must be registered on the Financial Service Providers Register. This is a public register that anyone can view online via the companies office website (click here) to ensure that the adviser they have is abiding by the new laws. You'll find all of us on there, just search by adviser name.
ARE YOU AN EXISTING CLIENT?
If you are an existing client of Insurance People, then you'll be used to how we do things... going forward you may notice a few changes. Don't worry you'll still get the good advice and service that you've always received but there may be a few new documents or forms that we go through with you. This is all about making sure we not only take the most appropriate care in providing you advice but also that we are held accountable to deliver the best possible service that you need, want and deserve.
We'll be commenting from time to time on this to help you better understand and of course, if you have any questions do not hesitate to contact your adviser or email us anytime.
If you think this information would be of value to someone else, please pass it on!
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