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Insurance group Preferred NZ looks to come out of the shadows

Adviser group Preferred NZ has been flying under the radar, but is looking to change that approach with the appointment of a new chief executive.

Tuesday, December 6th 2016, 6:00AM

Former Partners Life sales manager Simon Fisher has taken on the newly created role to head the business.

While Preferred is based in Palmerston North, Fisher will remain in Auckland

Preferred owner Greg Barratt says the group has a number of businesses. Its main revenue area is from its 23 tied advisers who contract exclusively to the firm.

There are also half a dozen associate advisers who run their own businesses.

He says they each write between $50,000- $60,000 annual premium income each year and the goals to provide support and services, such as lead generation to get them closer the $100,000 mark.

There is also a group of 27 aligned advisers - although Preferred doesn’t label them as such, it is like a dealer group.

Fisher says the key difference with other groups is that Preferred aims to gives these advisers tailored or individual support to help them grow their businesses.

Part of Fisher’s role will be to work with lead sources such as real estate agents and accountants and also to grow the number of advisers aligned to Preferred.

Fisher has confirmed he left Partners for family and health reasons, and that he will remain a shareholder in the company.

He has known Barratt for 18 years and says there are “very exciting opportunities to grow the business.”

He says there are growth and distribution opportunities and he can provide the skills set to drive the business forward.

Barratt says Preferred has around $9 million of in force business.

Tags: PreferredNZ

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