Margaret Wilson sends Stalinesque shivers down advisers' spines

Monday 6 September 2004

Investment advisers will be in for a tickle up now Commerce Minister Margaret Wilson has decided to appoint a six-member taskforce to examine regulation of their industry.

By The Landlord

An old and trusty friend of business, Wilson conveyed the glad tidings to a recent meeting of the Christchurch Financial Planners and Insurance Advisers Association.

One imagines that her pronouncement triggered the sort of spontaneously ecstatic applause and incontinent aisle-rolling that used to greet Stalin's latest ukase.

Investment advisers fall into the moral issue concentration camp of government considerations.

Wilson's speech referred to the unsuspecting victims to be protected from capitalist evil when she spoke to her new-found investment industry comrades of how, "Consumers need your expertise to help them to save and invest wisely." The C-word! Advisers are doomed already.

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