Jeff Royle targets industry leavers

Although the deadline for transitional licensing for financial advisers is the end of June, just 15% of mortgage advisers had applied for or received their transitional licence at the end of February.

Part of the reason is that a number of groups, including the largest player, NZ Financial Services Group, had not disclosed their proposition to the market.

Royle said advisers had been told there were three possible outcomes post the June 29 transitional licensing deadline; exit the industry, become a FAP or become a licensee under someone else’s FAP: “Until now these seemed to be the only options for all mortgage advisers,” he said. “The good news is there is a fourth option.”

Royle and his wife Heather, who used to lead Kepa’s mortgage offering, have developed a service called “Refer Direct”.