Calls for responsible lending qualifications for advisers

One way would be to have better pre-entry training of staff at lending institutions to create an improved career path for them.

The FSF represents non-bank lenders such as Avanti, Prospa, Gold Band Finance, Basecorp and Pepper Money.

The Federation's comments follow a story in Good Returns about serious staff shortages in the industry. The story said the employment website Seek had over 150 jobs advertised for financial advisers and support staff.

Its rival site, Trade Me Jobs had more than 130 positions available in the financial services sector.