PEOPLE

As the new financial advice regime begins the FMA has shifted its focus from transitional licences to monitoring the market, with advisers moving towards full licences.

Leading this change is James Greig, new director of supervision. Greig has recently been appointed to the FMA’s executive committee and has reported directly to chief executive Rob Everett since 2020.

Greig has led the FMA’s supervision team since 2016. The team is responsible for monitoring and supervision of managed investment schemes (MIS), supervisors, custodians, derivatives issuers and financial advice.

Michael Hewes has been appointed head of financial advice, within the supervision team and will lead this work, reporting directly to Greig.

Everett said: “James is already making a great contribution to the FMA’s leadership as we ready ourselves for a significant expansion in our remit. In particular, we are now implementing the new regime for financial advice which came into force earlier this week.

“James has proven himself an effective leader and played a major role both in our response to the Covid-19 pandemic and in the culture and conduct reviews into banking and life insurance in 2018.”

Fidelity Life’s current chief distribution officer Adrian Riminton will, next week, move into his new role while remaining on the company’s executive team reporting to chief executive officer Melissa Cantell.

Cantell says Riminton expressed an interest in the role last year and was appointed following an extensive recruitment process which included external candidates.

“We see risk management as a business-critical function and a strategic enabler for our customerled transformation,” Cantell says.

“With plenty more regulatory and other changes expected in the years ahead, Adrian’s broad commercial background – including last year’s stint as our acting chief executive officer – means he’s ideally placed to help lead our business through our transformation.”

Trecia Brown, Fidelity Life’s head of professional development, will act as chief distribution officer while a recruitment process is conducted.

Meanwhile, Fidelity Life’s previous chief risk officer, Anna Black, remains on the executive team as transformation lead for people, process and customer, a role she’s held since July last year.

Black is playing a pivotal role on Project Watson, the technology project underpinning the company’s broader transformation.

“These are truly exciting times for Fidelity life as we continue to make great progress with our customer-led transformation,” Cantell says.

“We’re focussed on delivering sustainable, profitable growth so we can build confidence and trust and continue protecting New Zealanders’ way of life.”

Hunter Investment Management has positioned itself for future growth and plans to expand into several different asset classes with the appointment of Anthony Sowerby who will join the company in a client services role.

Sowerby previously worked with IIS in launching the InvestNow KiwiSaver scheme last October. Prior to IIS, Sowerby worked as COO at Salt Funds Management after a long stretch at AMP Capital NZ.

Hunter topped $1 billion in assets under management this year and its managing director Tony Hildyard said its growth is not going to stop there with the company’s goal to become a broader fund manager.

Hunter recently launched two new diversified funds – diversified balance and diversified growth.

Hildyard said the company was fortunate to employ Sowerby who already has some familiarity with what Hunter does through his time at InvestNow.

“He’s got a great skill set, good contacts, and great experience in New Zealand markets. It positions Hunter for growth while making sure that our clients continue to get good service,” Hildyard said.

Former Navy recruit Brad MacDonald moved back to the Hawke’s Bay to begin a career as a financial adviser and has taken up a position with national insurance advisory and financial services group Plus4 Insurance Solutions.

MacDonald has seven years’ experience in the financial services sector and is a Hawke’s Bay local where he was a foundation student, head boy, and captain of the 1st XI cricket team at Flaxmere College.

He began his financial services career with a well-known Hawke’s Bay financial planning practice in 2014 and in 2018 he joined Gary Hemmings and established Common Sense Financial Planning.

As a financial adviser and an Accredited Investment Fiduciary, MacDonald provides financial advice including KiwiSaver, investment and retirement planning, and personal insurance. He works with a diverse range of clients including business owners, families, farmers and medical professionals in New Zealand, Australia, Singapore and Japan.

Plus4’s group general manager Peter Standish says MacDonald is an experienced and highly regarded financial services professional who has established a successful practice in the Hawke’s Bay.

Established in Nelson in 2008, Plus4 now has 46 advisers working from 16 locations between Whangarei and Invercargill predominantly working with small to medium-sized enterprises, their owners, and their accountants. A