The Stockbrokers and Financial Advisers Association (SAFAA) will now move forward as the Stockbrokers and Investment Advisers Association (SIAA) saying the change reflects the breadth of its membership’s roles and responsibilities and that not all of its members provide financial advice.
The new name also supports the association’s ethos that all members are involved in servicing the interests of investors and investing, and distinguishes all types of financial advice providers including risk and mortgage brokers.
“Our name change clarifies who our members are and proudly encapsulates the value our members add to the community of investors, businesses seeking capital and ultimately, the economy,” SIAA chairman Brian Sheahan said.
“The tagline accompanying our new name — ‘Serving the interests of investors’ — captures the fiduciary relationship our members have with investors.”
CEO Judith Fox added that the name change recognised the different forms of financial advice provide different services to clients.
“This clarification is helpful to the community when thinking about how to generate wealth over the long term by investing in equity and debt markets,” Ms Fox said.
