Financial Advisers Act 2008

11 When person provides investment planning service

(1)

A person (A) provides an investment planning service if A designs, or offers to design, a plan for an individual that—

(a)

is based on, or purports to be based on, an analysis of the individual’s current and future overall financial situation (which must include his or her investment needs) and identification of the individual’s investment goals; and

(b)

includes 1 or more recommendations or opinions on how to realise those goals (or 1 or more of them).

(2)

A service may be an investment planning service regardless of whether the analysis and identification is of the individual’s particular financial situation and goals or of the financial situations and goals attributable to the class of persons that the individual is identified as coming within.

Section 11: substituted, on 1 July 2010, by section 10 of the Financial Advisers Amendment Act 2010 (2010 No 40).