Trustee Corporations have an important role in maintaining investor confidence in New Zealand’s financial markets.
TCA Members currently supervise financial arrangements with assets valued in excess of $343 billion.
TCA was formed in 1989 as successor to the Trustee Companies Association of New Zealand, following the admission of the Public Trust. The Association was incorporated in its current form in 2007.
TCA is governed by an Executive, appointed by the Member companies. The Chairman is elected annually by the Members at the Annual General Meeting. Day to day running of the Association is in the hands of the Chairman and an Executive Director.
The current members of the Executive are:
Mark Jephson (Guardian Trust) – Chairman
Matthew Band (Trustees Executors)
John Ross (Public Trust)
Richard Spong (Covenant Trustee Services)
David Brown Douglas
The Trustee Proposition
Members pride themselves in providing services that exemplify:
To view the TCA Constitution click here.
TCA Codes of Practice
The TCA Code of Practice is split into two areas: Corporate Trust activities (under review) and Personal Advisory Services activities (under review).
TCA does not maintain a complaints review process. Each Member is registered as a financial services provider pursuant to the Financial Service Providers (Registration and Dispute Resolution) Act 2008. Each Member therefore maintains its own complaints process including membership of an independent dispute resolution scheme which has been approved by the Minister of Consumer Affairs.
Any complaint in respect of a Member should be sent to the Member’s (refer to the Member Contacts page for contact details) internal dispute resolution service. If the complaint is not satisfactorily addressed within 40 working days then the complaint can be sent to the dispute resolution provider. Each Member has appointed Financial Service Complaints Ltd (FSCL) as their dispute resolution provider. Contact details for FSCL can be found on their website (www.fscl.org.nz).
The services of FSCL are free to consumers.