The Financial Planning Institute of Southern Africa (FPI) and Financial Advice New Zealand (FANZ) have formed a new international partnership designed to strengthen professional standards, share expertise and create new opportunities for financial planning professionals across Southern Africa and New Zealand.

The partnership was formalised through a Memorandum of Understanding (MOU) signed at Financial Advice New Zealand’s inaugural Advice Policy Summit in Auckland today. The MOU establishes a five-year framework for FPI and FANZ to collaborate on professional development, thought leadership, policy issues, international best practice and the continued advancement of the global financial planning profession.

FPI Chief Executive Officer Lelané Bezuidenhout, CFP®, said the partnership highlights the growing importance of international collaboration in financial planning.

“Current financial planning trends point to the need for closer collaboration in areas where professional overlap and the cross-border movement of South Africans and CFP® professionals are increasing. Clients are also more likely to hold assets, family interests and financial obligations across several countries.

“Through this partnership, CFP® professionals in both territories can build stronger peer connections and benefit from the opportunities created by the MOU. As demographics shift globally, financial planners must collaborate to strengthen capability and promote fair client outcomes.”

Financial Advice New Zealand Chief Executive Nick Hakes said the partnership creates an important pathway between the financial planning professions in Southern Africa and New Zealand.

“Financial advice is increasingly part of a connected global profession. While each country has its own regulatory and operating environment, the principles that underpin quality financial advice, including professionalism, ethics, competence and acting in clients’ best interests, are universal.

“This partnership gives our professions an opportunity to learn from one another, share knowledge and strengthen professional capability. It connects New Zealand advisers with international thinking and creates a pathway for collaboration that will benefit professionals, their clients and the wider communities they serve.”

FPI and FANZ will also work towards developing a framework for greater recognition of professional credentials between the two jurisdictions. This longer-term work will explore how relevant education, examination results and certification held by CFP® professionals in good standing could be recognised across the two professional communities.