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Financial Advice NZ gets new chair

15 Dec, 12:54pm

A former ACT Party deputy leader and MP will take over as chairperson of Financial Advice New Zealand.

Heather Roy has been an independent director on the Financial Advice NZ board for one year and was made interim chairperson at its recent annual meeting.

Roy is a professional director who serves on several boards and was an ACT member of Parliament from 2002-2011 serving as Minister of Consumer Affairs in the John Key government from 2008-2010.

Her appointment is for three years with Financial Advice NZ chief executive Katrina Shanks saying Roy has already contributed a huge and rare depth of knowledge and expertise in governance experience over the past year that has greatly benefited the organisation and its members.

Roy was the chair of financial advice business Foxplan from 2018 to July 2020.

FoxPlan was been publically censured by the FMA earlier this year after five of its representatives were found to be offering services they were not permitted to give.

Shanks says, “the financial advice sector has, like many others, faced some big hurdles over the past two years and Heather’s experience will be crucial in navigating the new legislative regime and changing commercial environment, and helping increase New Zealanders’ financial health, wealth and wellbeing.”

Shanks thanked Brown for her leadership through Financial Advice NZ’s early years and the recent pandemic.

“We wouldn’t be in the position we’re in right now if it wasn’t for Sue’s skill and knowledge of the sector and outstanding governance skills,” says Shanks.

Roy says she is delighted to follow Sue Brown as chairperson.

“Sue has expertly led Financial Advice NZ through its inaugural years and leaves a professional organisation with a solid foundation.

"I look forward to furthering the work of growing respected, trusted, professional financial advisers who support New Zealanders to make wise financial choices and achieve financial security."

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