by Maria Scott
The seminar invited people to “come and hear Don and John speaking on: the world economy, NZF Kiwi Super Saver”.
This appeared potentially to be at odds with an earlier decision by management of Mortgage Link that its brokers should not sell KiwiSaver plans.
Mortgage Link management decided that it was not appropriate for its brokers to sell KiwiSaver and that if clients expressed an interest in it, they should be referred to specialist advisers.
But Templeton said that Mortgage Link Waikato had no intention of contradicting group policy. It did not intend to sell NZF KiwiSaver plans; the event was intended only to provide information on the retirement savings scheme. The Waikato branch ran many seminars on subjects of interest to clients. It would be making it clear during the seminar that Mortgage Link would not be providing KiwiSaver plans.
NZF Group is encouraging mortgage brokers to sell KiwiSaver using a scheme run by Huljich Wealth Management as a way to diversify their businesses. NZF says that it does not intend that mortgage brokers give investment advice but that they simply provide information to clients on the scheme run by Huljich.
Mike Pero Mortgages, which is part of the NZF Group is marketing the Huljich scheme.
Moves by brokers into KiwiSaver territory will remain a source of debate in the industry. One former mortgage broker who now works for a bank told Good Returns: “If it is good enough for banking consultants in branches to sell KiwiSaver then why shouldn’t brokers, as long as brokers have a disclaimer signed to protect themselves? Brokers need to market KiwiSaver as a great way to save (long term) rather than complicate things talking about specific investment strategies and financial advice.”
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