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The Kiwi Adviser Network launches

Chuck Slogrove, founder of CRM provider Trail and new aggregator the Kiwi Adviser Network, says he created the new group due to a “lack of leadership” from the industry on key issues.

Thursday, March 18th 2021, 5:13AM 1 Comment

Speaking to TMM Online, Slogrove said "advisers feel like existing groups in the industry have shown a lack of leadership on the things that really matter".

“Investment into technology, adviser professional development, and making compliance easy have largely missed the mark and left advisers wanting more,” he said. “The KAN is a natural progression for us in providing value in a way other head groups have struggled.”

The Kiwi Adviser Network formally launched this week, and has relationships with twenty lenders, including the big four banks. A further four lenders are set to join its panel this year. More than 60 advisers have applied to join the group so far.

According to a presentation seen by TMM late last year, KAN has a range of different membership options for advisers. The new group will welcome mortgage, risk insurance, and investment advisers dealing in advice on managed funds and KiwiSaver.

  • For mortgage advisers, the group will charge from $900 per person per month for one-person businesses, to $750 per person per month for businesses with six or more people.
  • For insurance-only advisers, KAN will charge from $600 a month per person for one-person businesses, to $500 per month per person for businesses with six or more people.

Slogrove said: “KAN’s pricing also scales really well as a business brings on more financial advisers ... You’re getting software, compliance support, professional development training, third line of defence audits, and support to make sure your business and advisers are all adequately set up to operate in the new regime.”

He said the group’s approach was “very different” from its established rivals.

“Our advisers are our number one priority. We don’t have our own branded advice business competing for their clients. We are also the market leader in adviser technology solutions, and KAN is an extension of this,” he added.

The new group hopes its technology platform and integration with Trail will give it the edge over larger competitors. Trail recently secured an ISO 27001 international cybersecurity qualification.

“Data security is integral in ensuring financial advisers maintain their position of trust with their clients. If consumers are protected, trust within the industry will continue to grow. We have made a commitment to lead the industry in this regard,” he said.

The group will offer advisers the option of working under a group FAP, or their own FAP, under the new licensing regime.

“We treat all businesses who join the network equally, so there’s no downside to choosing a particular licensing structure,” Slogrove added.

KAN members will benefit from a “compliance assurance programme”, Slogrove said. The group has in-built compliance processes through Trail, while the group will monitor and review files to identify gaps.

Members will also get an external back-up audit from Strategi each year, “to ensure our compliance assurance plan is functioning properly across the group”.

Slogrove believes the new regulatory landscape will lead to more advisers changing groups.

“For the advisers in our network, the upcoming regulatory changes aren’t a pain point, they’re a real opportunity to improve and grow,” he said.

“The industry is at a crucial crossroads, and advisers are looking for something different. It’s no longer just about commission payments and access to a lending panel.

“Advisers need strategic partners that can unlock their growth potential in an increasingly complex commercial and regulatory landscape.”

Tags: aggregator Kiwi Adviser Network Trail

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Comments from our readers

On 18 March 2021 at 12:30 pm Noel Bowl said:
You should talk to members of the NZFSG aka the "G" most of us- some 1,400 members (+ & or -) we are very satisfied with what they help up with- across all facets of our roles- of the industry not least of which the prep that went into prepareness for 15 march 2021. I went through a serious due diligence exercise last year during covid lock down- yip the pro's and the con's of all of the aggregtators- their respective CRM before we launched our new brand- Greenlight- mortgages & insurances. What I would say publicly is Regional Managers like Shaun Fateita, the Brian Greer's from Loan Market and or the wider group +++ their support Team and tehir fellow RM's are out of the top drawer- value for money BANG on. Question- perhaps KAN is simply on a self promo drive of their own offering- who knows......one persons view point- mine...

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Lender Flt 1yr 2yr 3yr
AIA 4.55 ▼2.25 2.59 ▲2.89
ANZ 4.44 2.89 3.25 3.39
ANZ Special - 2.29 2.69 2.79
ASB Bank 4.45 ▼2.25 2.59 ▲2.89
Basecorp Finance 5.49 - - -
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - 2.29 2.59 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 2.89 3.19 3.39
BNZ - TotalMoney 4.55 - - -
Lender Flt 1yr 2yr 3yr
CFML Loans 4.95 - - -
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.40 3.50 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - 2.25 - -
ICBC 3.69 2.25 2.35 2.65
Kainga Ora 4.43 2.67 2.97 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.20 3.50 3.50
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.35 2.65 2.65
Liberty 5.69 - - -
Nelson Building Society 4.95 3.20 3.24 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
Lender Flt 1yr 2yr 3yr
SBS Bank 4.54 2.79 2.99 3.29
SBS Bank Special - 2.29 2.49 2.79
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - 2.09 - -
The Co-operative Bank - Owner Occ 4.40 2.29 2.59 2.79
The Co-operative Bank - Standard 4.40 2.79 3.09 3.29
TSB Bank 5.34 3.09 3.29 3.45
TSB Special 4.54 2.29 2.49 2.65
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 2.29 2.69 2.79
Median 4.55 2.73 2.99 2.89

Last updated: 23 April 2021 8:50am

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