About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Friday, November 22nd, 5:30PM
rss
Latest Headlines

Many advisers postponing study

Many category two advisers are postponing courses while they await further information about voluntary authorisation according to ETITO.

Thursday, August 26th 2010, 6:50AM

by Jenha White

Manager of strategy and corporate relations Michael Frampton says any announcement to provide certainty will be the biggest impetus for category two advisers to make final decisions about their course of action.

Adviserlink general manager David Cairns says of it's portfolio of advisers training, around 10%  are mortgage and insurance advisers that have either pulled out of courses or postponed them while they wait for clarity.

Commerce Minister Simon Power told Good Returns he is expecting to receive advice from officials on the issue in the next couple of weeks.

ETITO says it has formed the clear view that voluntary authorisation is an important feature of any regime seeking to encourage discretionary behaviours that are in the best interests of New Zealanders and the professionalism of the industry at large.

Frampton says ETITO believes the need for the voluntary provision is heightened by the need to recognise the tremendous commitment of insurance and mortgage advisers over the last six months to programmes of training and assessment leading to authorisation.

"A resolution to the uncertainty that continues to exist for Category Two advisers must be expedited,"says Frampton.

He says the only clarification so far, provided by the revised draft Code which offers additional relief to some advisers, is having the effect of reducing the number of enrolments.

"The change to voluntary authorisation has also naturally meant that some Category Two advisers will choose not to invest in their professional development, such as those advisers who may be nearing retirement."

Training providers have also noted that due to the nature of KiwiSaver as a Category One product, some advisers who initially enrolled in Standard Set E are switching to Standard Set D as they realise that they are going to need to be authorised.

 

 

 

Jenha is a TPL staff reporter. jenha@tarawera.co.nz

« Inflation-indexed tax on savings should work in theory: EnglishKiwiSaver mismatch a 'huge challenge' for advisers »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • [The Wrap] Into the unknown
    “Can I add to your list of unknowns, That is the issue of whether a financial adviser will be allowed to provide advice on...”
    7 hours ago by Murray Weatherston
  • [The Wrap] Into the unknown
    “As a Director of Newpark, I am appalled by this comment above "It is good to get rid of overrides as the money in the past...”
    8 hours ago by Murray Weatherston
  • [The Wrap] Into the unknown
    “Dealergroup fully paid for my level5, professional development days, free crm and advice process, bdm support and just attended...”
    8 hours ago by D.G
  • When is a client really a client?
    “while many interesting points are made, I feel that Murray's earlier comment is closest to the mark. However I believe it...”
    10 hours ago by Tony Vidler
  • Life stages research shows big differences in outcomes
    “"Savers who chose NZ Funds, Fisher Funds or SuperLife achieved a higher level of expected wealth at retirement after fees...”
    1 day ago by Gordon Gecko
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 3.95 4.49
ANZ Special - 3.55 3.45 3.99
ASB Bank 5.20 ▼3.89 ▲4.05 4.39
ASB Bank Special - ▼3.39 ▲3.55 3.89
BNZ - Classic - 3.55 3.45 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
HSBC Premier 5.24 3.35 3.35 3.35
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 4.04 3.95 4.39
Kiwibank 5.80 4.14 4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.39 3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.86 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.55 3.39 3.89
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.35 4.25 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.55 3.45 3.89
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.55 3.45 3.99
Median 5.34 4.02 4.09 4.39

Last updated: 22 November 2019 4:35pm

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com