The board of Financial Advice New Zealand has announced that CEO Katrina Shanks will be stepping down from her position in November.
Shanks, who is also a regular column contributor for Insurance Business, was appointed as the inaugural CEO of Financial Advice New Zealand in 2018, overseeing the amalgamation of the three organizations representing financial advisers.
The board also announced that it will soon commence a recruitment process to appoint a new CEO.
Board chair Heather Roy expressed gratitude to Shanks for being instrumental in Financial Advice NZ’s establishment.
“Katrina leaves Financial Advice NZ in good shape and good heart. The board is proud of Katrina’s contribution to growing a professional member body during a period of significant challenge and change. We are stronger for her leadership, and she has set us up for growth into the future,” Roy said. “We wish Katrina well in her next endeavours.”
Shanks also offered a few words of her own on her upcoming departure, calling the service her “privilege” over the past five years.
“I truly believe quality advice transforms New Zealanders' financial health, wealth, and wellbeing. This belief has been my point of reference when delivering advocacy, promotion, and ensuring professional standards are maintained. I believe as a professional body we have strived to provide the best environment for financial advisers to succeed,” she said.
“I express my gratitude to the board, the Financial Advice NZ team, and the members who have generously shared their knowledge, expertise, time, and support. I extend my best wishes to the organization for a successful future,” Shanks said.
Shanks’ departure from Financial Advice NZ follows another high-profile exit from the industry. Recently, it was announced that ICNZ chief executive Tim Grafton will be leaving the role next year.
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