TNP opens school for advisers

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Risk advisory group The National Partnership (TNP) has licensed Adviserlink courses to provide its own educational pathway for members to achieve authorised financial adviser (AFA) status.  

Thursday, February 18th 2010, 2:52PM 1 Comment

by David Chaplin

Dave McMillan, TNP director of development, said the newly-formed TNP Institute would be spearheaded by Brett Bennison, a practising adviser who is also certified to deliver the Adviserlink materials.

McMillan said the TNP Institute was a logical extension to other services the 200-strong advisory group provides to its members.

Under the deal, TNP advisers will be able to "fast track" their way to earning the National Certificate in Financial Services (Level 5), required for AFA status, the group's marketing materials say.

Depending on existing experience and qualification levels advisers would have to stump up with between $1,295 and $3,495 (excluding ETITO, NZQA and print and post costs).

"If you don't have any cross credits, you could choose another provider and pay up to $6,750," TNP says.
The group estimates advisers would have to spend between five and eight days in the classroom and about an hour each day doing homework to acquire the necessary knowledge.

TNP advisers who fail an exam at the first try will also get a free second attempt at passing.

The TNP Institute allows members "to major either in life and health insurance or investments".

"If there is sufficient demand we will also offer fire and general insurance and mortgages," the group says.

While insurance advisers were not initially expected to need AFA status in order to practice recent signals from government and regulators have indicated most would now be required to meet the higher educational standards.

Last year two other risk advisory firms, Share and Newpark Financial Services, also launched programs to ensure all their members would meet the AFA requirements once regulation comes into force at the end of this year.

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