Partners Life offers advisers support

A new support programme from Partners life is designed to help advisers through the new licensing regime.

Tuesday, December 4th 2018, 11:16AM

Mark Banicevich

The adviser support programme launches today.

The insurer describes it as an initiative designed to help support adviser businesses and business owners to document and explain their key business practices, processes and policies.

It is a confidential, modular, digital platform which helps to guide adviser business owners through the process of articulating the key, unique attributes of their businesses and will ultimately produce comprehensive, evidential documentation of how their businesses operate, helping to put them in a strong position to transition into the new regulatory environment once licensing requirements are formalised and communicated to the industry.

All financial advisers and nominated representatives will have to work for a licensed financial advice provider, under the new regime. Advice firms will have two years to move from a transitional to a full license.

As part of that, business owners will have to discuss and demonstrate their processes and procedures.

This programme will be offered to adviser businesses with whom Partners Life holds an existing relationship, and is intended to be completed over the course of the next year, with adviser business owners dedicating about an hour per week towards completion.

“Partners Life recognises that the requirements to obtain a license under the new regulatory environment may be new to many adviser businesses, particularly those with few advisers, however believes the adviser support programme will be beneficial to all adviser businesses, whether they intend to apply for a license or to be engaged under another licensed provider.”

It will be spearheaded by subject matter experts within Partners Life including Mark Banicevich, strategy analyst and Steve Wright, general manager of professional development along with Karty Mayne of Rosewill Consulting.

Tags: Partners Life