It is asking advisers for expressions of interest to be nominated representatives.
This means it will be taking responsibility for advisers who are not its employees to provide financial adviser services on its behalf.
Grosvenor head of marketing Andrew Lendnal says Grosvenor does encourage advisers to be Authorised Financial Advisers (AFAs) but understands that there are different situations where authorisation isn't for everyone.
He says the option could appeal to advisers in certain situations such as insurance focussed advisers that also promote KiwiSaver and which have the odd investment client.
"You may be intending to exit the industry within the next five to 10 years and the time and ongoing cost of authorisation is impractical," he says.
"Or you may be an AFA who is registered but you would like the additional comfort and support with regards to compliance tools and investment support a QFE provides."
He says the decision for advisers in joining a QFE comes down to confidence, expertise, background and the level of advice they're capable of giving.
The Grosvenor QFE has no quota's on insurance or investment related production as well as no fee for joining and it will include access to Grosvenor Category One products and access to a menu of insurance products.
However, advisers who work for the QFE will still need to be individually registered and authorised if they provide an investment planning service or if they give advice or provide a discretionary investment management service on category one products issued by a third party.
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