Sovereign paying for advisers to study

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Sovereign is paying for its key advisers to return to study, so they can get to grips with new regulations covering the insurance industry.

Wednesday, April 21st 2010, 9:00PM 3 Comments

It announced today at the SovNet conference in Auckland that it would pay for the advisers in its network to study towards a National Certificate in Financial Services, which is required to be an authorised financial adviser, at a cost of about $1500 each.

Advisers will be supported in their studies by Sovereign's team of business development managers.

Sovereign chief executive Charles Anderson says it is critical that its advisers, as well as its staff, not only meet the new industry standards but exceed them.

"The regulation framework being introduced creates a huge challenge but will allow us to set new benchmarks in the industry.

"We are investing heavily in education to ensure that everyone who works with and for Sovereign, shares the vision and has the tools to succeed in the new environment. This will have significant benefits for the company, the advisers and - most importantly - our clients."

He says regulation is a good thing as it gives customers more confidence in suppliers.

"Anything supportive of the consumer we shouldn't be afraid of."

Sovereign told the advisers at the conference that navigating the regulatory changes required them to be well-equipped, dedicated and flexible.

The new training opportunity will be a partnership between Sovereign and the Open Polytechnic, which will enable the advisers to study flexibly, according to a schedule that suits them.

The course will be taught in a tailored mix of individual and group learning.

Ongoing training requirements will continue to be delivered through SovNet's business development group meetings.

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