Client Protection

The Changed Landscape for Advisers Commenced

1 March 2011


Purpose of New Legislation

The  over-arching purpose of the Financial Advisers Act  2008, (which is now being implemented) 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.


Authorised Financial AdviserUnder this  legislation an Authorised Financial Adviser (AFA) is approved by the Financial Markets Authority and is authorised to provide Financial advice as well as any other named services.


The new Code of Professional Conduct  is a major step forward for the industry, and a copy of this is available below.


Code Standard Number one puts all this legislation right into perspective.


An Authorised Financial Adviser must place the interests of the client first, and must act with integrity”


Q. What does all this mean for me as a client of Auckland City Brokers Ltd


A. Well the key point is that the Director Richard Hurley is now an AFA and was one of the first in Auckland to be so authorised by the Securities Commission.

In a nutshell however our clients will notice little change. Our Company has been compliant with a best practice model since 2002 in anticipation of these new legal requirements.


Processes of; Disclosure, Written Advice, Compliance and Technology have been continuously upgraded and  audited during that period. Placing the client first has ensured the growth and success of the business through both the good, as well as the bad times, that we have recently experienced.


To view or download a copy of the Disclosure Statement for Richard Hurley click the link below.

Download Primary Disclosure Statement

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