The Association of Financial Advisors (AFA) has announced the resignation of its chief executive.
Helen Morgan-Banda has stepped down as AFA CEO after originally being appointed to the role in August of last year.
AFA general manager policy and professionalism Phil Anderson will take on the responsibilities of CEO after acting in the role for close to six months in 2021.
Ms Morgan-Banda, who formerly served as the CEO of the Law Society of New Zealand and the Royal New Zealand College of General Practitioners, will now return to her home country.
“I would like to thank the AFA for the opportunity to contribute during a time of great change for the sector, advisers and the Association,” Ms Morgan-Banda said.
“However, the ongoing uncertainty surrounding access to New Zealand and between states in Australia because of the Covid-19 pandemic, particularly the Omicron variant, has meant that I have decided I wish to go to Melbourne to be close to family before returning to my home country, and family there, when the border allows.”
AFA president Sam Perera expressed gratitude for Ms Morgan-Banda’s term as CEO on behalf of the industry body’s board.
“The Board of the AFA would like to thank Helen for her efforts over the last five months and respect her decision to return to her homeland during an unprecedented period of global uncertainty,” Mr Perera said.
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.
The regulator has also banned the director of the firm linked to the Mayfair 101 Group from controlling a financial services entity.
The big four bank has confirmed the move today.
Joe Longo has addressed ongoing concerns by the industry.
Get the latest news! Subscribe to the ifa bulletin
Get notifications in real time and stay up to date with content that matters to you.