The Financial Services Legislation Amendment Act 2019 (the Act) aims to improve access to quality financial advice for all New Zealanders. Discuss whether each of the following factors would improve access to quality financial advice in New Zealand:

1. Increasing the minimum educational requirement of financial advisers as outlined in the new Code of Professional Conduct for Financial Advice Services;

2. Allowing financial advice to be provided through technology, which enables the provision of digital advice (also known as robo-advice).