Travel agents get their financial advice wings

A new scheme, with government funding, is helping Flight Centre travel agents become financial advisers.

In a deal between between Travel Managers Group (TMG), online financial information service Ratebroker, and the Ministry of Social Development (MSD) travel brokers are being enoucraged to become financial advisers.

The partnership will allow the travel brokers to be employed through Ratebroker, and provide them with access to a fully-funded comprehensive training and mentoring programme. The retrained brokers will be able to offer clients life and health insurance, mortgage protection and income insurance protection, in addition to their usual travel offerings.

Clients will only be able to receive financial advice from brokers who have completed the required training and mentoring programme. Each participant will receive a one-year fixed term contract and an opportunity to work across both industries on an on-going basis, with financial certifications and registrations behind them.