IFA2010 Conference in Rotorua

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Business Sessions
Updated 14 July
The Business Sessions are currently being finalised, and details will be published as they are
confirmed. We have five business sessions - each with four concurrent sessions, so something for everyone.

Business Session One - Wednesday 12.20pm
	Investing in the New Global Economy Bevan Graham As the world continues to recover from the Global Financial Crisis, the balance of growth has shifted from the developed to the emerging world. In time, that means the balance of wealth and political influence will also shift. As long-term investors, that has lead to changes in our portfolios and products. Bevan will tell you how AXA GI is preparing for the new world. Bevan Graham is Chief Economist and Head of Client Relations at AXA Global Investors, where he has worked since June 2008. Bevan has held a number of senior economist positions across both the private and public sectors. He began his career in financial markets at the ANZ Bank before a move to Westpac where be was Chief Economist from 1994 to 2000. In 2000 he became Chief Economic Advisor to the Leader of the Opposition, a position he held until the end of 2002. Following a period back in financial markets as Head of Client Relations at Alliance Capital Management, Bevan became Chief Executive at the Economic Development Association of New Zealand (EDANZ), a position he held until his move to AXA Global Investors. Bevan has a Bachelor of Social Sciences (B.Soc.Sci) degree from Waikato University, majoring in Economics.
	Show me the money - where's your PI? Kristene Crook and Tony Vidler Professional indemnity insurance. It is generally accepted that all advisers need to have it and it is generally taken up without really having an adequate understanding of who and what is actually covered. The last couple of years, following the systemic collapse of the finance company industry, have seen a growing number of disgruntled consumers taking legal action against advisers and often targeting their PI cover. This session promises to be a lively debate between the consumer and/or adviser who want the PI cover to indemnify client losses – or at least take away all of the advisers risks and costs - and in the other corner is the insurer who believes the policy is there for a different purpose – and thinks the policy coverage is totally clear. Who is right? Where are the debatable points? What really happens with a PI claim? Kristene Crook is an Associate Director at Aon New Zealand and has a career in the insurance industry spanning 20 years starting out as a claims administrator then as an underwriter, moving on to liability claims management and insurance broking.. Kristene has for the past 11 years specialized in the area of management liability and professional risks designing and managing liability insurance programmes for a wider rate of professionals. Fighting out of the “feeling blue” corner is Tony Vidler, CFP, CLU – the IFA board member who has been upsetting insurers and advisers alike over PI insurance issues for 4 years (as seen on the front page of NBR) arguing PI insurance is for the adviser, not the consumer.
	#ifa2010: Dudes, social media ain’t just for kidz Philip Macalister So you think the social media like Twitter, Facebook and Linked In are just for kids? well think again. This session is a “must attend” for advisers wanting to learn more about social media and how it can be used to help businesses. He will be using Twitter at the conference and giving you a live demonstration of how it works. To get ready for this session do these three things: 1. Go to www.twitter.com and create your own account 2. Follow Philip on Twitter at www.twitter.com/Phil Macalister 3. Follow the conference at hashtag ifa2010 (#ifa2010). This is where you can tweet about the conference Leading online publisher Philip Macalister will tell you how social media works, how you can use it and why you should use it in your business. Philip established one of the first news websites in New Zealand (www.goodreturns.co.nz) and now has eight key sites covering all things to do with personal finance. Over the years he has used many of the key online tools including Twitter, Blogs and Forums.
	Tax Update - Pies, Australia / NZ Super & Tax Changes David Carrigan David will update us with the latest changes including any changes affecting Providers. David Carrigan is a Policy Manager at the Policy Advice Division of Inland Revenue. In his 13 years in tax policy David has provided advice on a wide variety of tax policy issues – including the taxation of savings, personal tax cuts and a number of international tax issues. David managed Inland Revenue’s input into the recent tax reform of investment – resulting in the new PIE and FDR rules. In addition, he was one of the Inland Revenue officials on the recent Victoria University Group that considered the medium-term direction of New Zealand’s tax system. David has also spent over two years as revenue advisor to the Minister of Revenue – first Bill Birch and then Michael Cullen.

Business Session Two - Wednesday 4.10pm
	What do we learn from Behavioural Finance? Prof. Philip Stork How can we use the latest developments and insights in behavioural finance to improve our investment decisions? Stock price momentum, psychological barriers, crash risk, the forward premium puzzle and other key financial markets phenomena are discussed in this presentation. Philip Stork is a Visiting Professor of Finance at Massey University in Auckland. In the past he has been a Professor of Finance at Erasmus University Rotterdam, where he also obtained his Ph.D., as well as a Visiting Professor to the Duisenberg School of Finance in Amsterdam and the Business School of Aix-en-Provence. Philip has taught for numerous organizations and his academic work has been published in major international journals. He has worked in various roles for banks and market makers in Europe, Australia and the US. Amongst other he has been Managing Director Investment Banking, Director of a small Private Bank and Head of Derivatives.
	Vintage is the new, new! Going back to the future Naomi Ballantyne The future success of the insurance industry in NZ will depend on how well we have learned the lessens from the past. I think we need to revisit the products, processes, financial structures and philosophies that served the industry and our customers well in the past and build on them to deliver more value to today’s clients but we also need to avoid those big ideas that seemed so right way back then but which have actually led to the serious pressure our industry is facing today. Over 27 years experience in the New Zealand Life Insurance Industry Was a founding employee of Sovereign which is now the largest player in the NZ marketplace Rose through the ranks at Sovereign to become Chief Operating Officer with direct responsibility for over 600 staff Left Sovereign after 11 years to found Club Life in 2001 Sold Club Life to ING NZ in early 2004 and remained Managing Director for over five years during which period ING Life experienced rapid growth to become the second largest life company in New Zealand by new business market share Having resigned from ING in September 2009, Naomi is now working on her next challenge – and no she is not expecting to start another life company – two is enough for anyone! She has a reputation for tackling the tough issues and being honest and upfront about both the potential of and the problems facing today’s life insurance industry Is married with one son, 4 pets and a very patient husband
	Life After Commissions - How are we going to get Paid? Richard Burcher If developments in Australia and the UK and trends within the New Zealand industry are any indicator, it is only a matter of time before advisors incomes from commission goes the way of the moa and the Law Society Scale of Charges – into the pages of history. Financial advisers are going to have to learn an entirely new skill set – how to price their work and how to 'sell’ a proper fee to clients. A barrister and solicitor for 30 years and an accredited member of the Professional Pricing Society (USA), Richard Burcher now devotes all his time to professional service firm pricing consultancy work, particularly law firms, accounting practices, engineers and financial service providers. Richard has 25 years experience advising professionals how to price their services and how to “sell” a proper fee to a client. Widely regarded as the only New Zealand expert on pricing of legal services, Richard undertakes pricing opinion work, High Court expert testimony on lawyers charges, pricing workshops and fee benchmarking surveys. His pricing consultancy services and speaking engagements now take him throughout New Zealand, Australia and the USA. Richard's research and commentary has been widely published.
	Legal - Case studies and topical issues for Financial Advisers John Brown The topic will be confirmed four weeks prior to conference as John's presentation will be based on updated court cases. John Brown is well known within the Financial Advisory industry and a co-convenor for the Trusts Special Interests Group (NZICA) and a member of the Institute of Financial Advisers. He works in an advisory capacity with professional advisers in the areas of business life insurance, trusts & asset planning, and some specialist tax areas. His work experience includes private practice and as an in house solicitor for two life insurance companies and a firm of insurance brokers, and self employed.

Business Session Three - Thursday 10.05am
	Welcome to the New Normal - Life in the real economy and financial markets after the global credit crisis Michael Coote Michael's presentation will examine a number of expected structural changes within economies and investment markets in the wake of the global financial crisis and their implications for investors Michael Coote is National Manager Corporate Communications for TOWER Investments. He has 15 years’ experience working full time in the New Zealand investment industry and is also an independent regular investment columnist and commentator for the National Business Review and other financial publications.
	The YRT versus Level Paradigm Cecilia Farrow The insurance industry has tugged and pulled at advisers on the merits of YRT premiums over Level premiums. The recent Insurance Law Reform has escalated the debate with promises of big premium hikes on YRT as the reason to provide best advice to your client and move them to Level. Let’s take the emotion off the table and look at the real analysis with consideration to: The principles of insurable risk The principles of risk management The concepts of opportunity cost Cecilia’s workshop will debate the issues and share real analysis minus the emotion to help you determine how YRT and Level fit into your clients portfolio.
	Financial Planning Under the Regulatory Spotlight Julie Berry Financial Planning in Australia has certainly been under the spotlight over the past couple of years. The Global Financial Crisis stress tested our industry, and a few gaps and cracks emerged. As you would expect, the Government and regulators have been quick to propose yet more regulation. Julie Berry CFP, FFPA and Chair of the Financial Planning Association of Australia, will walk you through the proposed changes and provide the FPA's approach to improving professionalism and promoting trusted advice in Australia.
	The New Financial Plan - What's changed - Legal, Wills and Trusts Henry Stokes Three certainties of life – Death, taxes and things will always change! How Wills, Trusts and EPAs can help deal with these three certainties. Henry will guide you through the importance of estate planning and Wills, Trusts and Enduring Powers of Attorney. In particular the issues advisers need to discuss with their clients to ensure that what is put in place meets not only their needs but those of the people they wish to provide for. Henry Stokes, Managing Solicitor for the northern region for Public Trust graduated from Waikato University and was admitted to the bar in 1996. He has practiced in Estate Planning from the commencement of his career. Henry currently manages the Auckland based legal team for Public Trust, New Zealand’s largest trustee organisation.

Business Session Four - Thursday 11.25am
	Investment Research – Adding Value to Financial Planning Businesses Darren Howlin Investment research is becoming an embedded part of the financial planning process. The output of qualitative research has many touch points in manager and fund selection, approved product lists and model portfolio. Investment Committees are used to bring the process together.Gaining an holistic understanding of the ways retail research impacts will help you work through the changes that are taking place in your industry today. Darren Howlin joined Lonsec in February 2010 as Research Manager, with a focus on Lonsec’s New Zealand managed fund research coverage in 2010. Most recently Darren held the position of Research Manager for Professional Investment Services, for over 4 years and Product Research Adviser for Suncorp. Darren has over a decade of fund manager research experience.
	Working as a Business Insurance Consultant Reuben Lawrence There are few critical success factors when providing financial protection advice to business customers, one of the most important is listening and developing an in depth understanding of your customer’s real financial position and business objectives in the event the unexpected occurs. To achieve this successfully you need a process that is flexible, but thorough. In this practical session Reuben will provide an overview of a business ‘fact find’ process that is based on a simple set of principals that you can implement into your own business process. Reuben Lawrence is Market Manager Financial Protection for AXA New Zealand, managing the financial protection product teams. Reuben has developed his approach to business customers from his experiences and perspectives gained from different roles within the financial services industry over the last 15 years. These have included working as an AMP Financial Adviser, Risk Technical Specialist for AMP, Business Products Consultant for ING, Business Markets Manager for AXA, and since the middle of last year his current position of Market Manager Financial Protection.
	CRM – what is it and what should it do for me? Michael Dowling and Barry Read The presentation will look at the process went through to select a CRM for the AMP network and the Newpark network. Michael is the Immediate Past President of AMP Adviser and Adviser Business Association having spent two years in the role. Currently his role involves supporting the current President and liaising with Australian delegates about development in New Zealand and Australia. He chairs a consultancy group with AMP on Business to Business functionality which includes all aspect of technology inaction and is involved on various other consultancy groups with the Association. Originally training as a Mechanical engineering and as a weapons specialist with the New Zealand Army, Michael joined AMP as a Tied Adviser in 1989. He is now a Certified Financial Planner and Chartered Life Underwriter specialising in Investment and Risk Management in Wellington at Stratus Financial Services Ltd. Barry has been a member of the Auckland IFA Branch Committee for 10 years and has worked in the Life Insurance industry for 22 years. He has a back ground in corporate roles, as well as involvement on several industry committees and working parties. His current role sees him working with over 200 brokers in the in an independent dealer group Newpark. Barry is passionate about the advice business, and believes the next few years will provide our profession a chance to grow and benefit all participants who embrace the regulatory changes. He is also a devoted husband, father, rugby coach, cyclist, golfer, and Ford fan.
	The future of lending - the next 10 years Darren Pratley This is a topic that Advisers should attend. The area of “lending” can no longer be neglected or forgotten, it is the starting point to a very successful financial services business, now and into the future. A 10 year lending story must be considered when looking at ways to develop a financial services business. As many perceive we are nearing the end of the international credit crunch, lending in New Zealand has changed for a very long time. These changes have brought a varied range of new challenges that have begun to get the industry thinking about the role of the mortgage broker and the role of the adviser. This change has certainly changed the landscape for lending and this crisis will change the industry for the years ahead. With impending regulation and the almost addictive relationship New Zealander's have with credit, the financial adviser now has to work with credit and assist their clients. Darren has a bachelor of commerce and management and has worked in the New Zealand Mortgage Industry for 15 years. He is currently the Chairman and CEO of the New Zealand Mortgage Brokers Association. Darren started his career in mortgage broking as a commission only consultant then progressed to owning his own mortgage broking business which allowed him to franchise the operation now into 9 offices around New Zealand. He has now implemented HLG Insurances Ltd as a supporting business within the group providing a wider product offering to their client base. His Industry role has been involved in the development of mortgage broking industry standards and protocols for the new regulated environment to be implemented.

Business Session Five - Thursday 12.25pm
	Building Robust Portfolios to Last the Distance. Chris Douglas In this session Chris Douglas Morningstar’s Co-Head of Fund Research will discuss how to build a portfolio of managed funds, ETFs, and direct investments.This presentation will take a closer look into topics such as: asset allocation, how to define quality, the fallacy that managed funds are poor performers, and a look into the simple mistakes investors make? Chris Douglas is Co-Head of Fund Research with Morningstar, a leading provider of independent investment research in North America, Europe, Australasia, and Asia. Chris is jointly responsible for leading qualitative research on Australian and New Zealand fund managers and their funds, and leads Morningstar’s fund review process, monitoring the production schedule and internal processes. Chris has over 10 year's investment experience. Before joining Morningstar in 2006, Chris worked as an Analyst in the investment team at ASB Group Investments in Auckland, as an Analyst in the Performance team at AllianceBernstein in London, and as a fund manager assistant with F&C Asset Management’s UK equities team.
	Your business - post regulation 2010 Peter Lee What changes do you need to put in place for your practice to comply with regulation? What is your successful financial services practice going to look like post regulation 2010? What is the industry going to look like?
	What part of a 6 Billion Dollar industry don't you want to be part of? David Boyle KiwiSaver is changing the face of managed funds. This presentation is designed to give a perspective on how big KiwiSaver really is, what is important to members, and what the opportunities are for advisers before and after Adviser regulations take affect in 2011. A member of ING's funds management executive, David heads the KiwiSaver distribution team and is based in Auckland. With some 285,000 plus KiwiSaver members and over 4000 employer preferred schemes, his area is responsible for the future growth of KiwiSaver for ING(NZ) Limited. Previously, David worked in ING’s Wholesale Institutional team as Manager Wholesale Distribution, and specialised in the area of charitable trusts, third party platforms, and Corporate Superannuation.
	Standing out from the crowd - being simply the best Insurance Adviser in the new world Steve Wright The Financial Advisers Act will formally impose conduct and ethical obligations on advisers. This session will examine what is required of insurance advisers to comply with the law and provide great advice when selecting a policy to recommend, including… What constitutes great advice, it’s not just about sums assured How to determine an appropriate provider/policy and what to do if you do not recommend the most appropriate one How to spot deal makers and deal breakers in provider’s policies Some common misconceptions and fish hooks (horrible policy provisions you probably don't know about) to be wary of Steve Wright has degrees in Economics and Law and post graduate qualifications in tax and financial planning. Steve has been in the financial services industry for 19 years, for the first 10 as a legal adviser. He is passionate about financial and risk planning and is committed to finding better ways for people to meet their financial goals. He has been with ING Life for the past eight years.