Deal increases Lifetime's reach

Upcoming changes to the Financial Advisers Act have prompted advice group Lifetime to partner with AMP to deliver more training options.

Tuesday, October 11th 2016, 6:00AM

by Susan Edmunds

John Ashby

John Ashby, national sales manager of the Lifetime Group, said it had established an Academy of Learning and Development, for its advisers and support staff.

It will deliver training modules ranging from sales techniques through to business insurance.

"More importantly, it will provide the platform for people who wish to become advisers, as defined within the proposed changes to the Financial Advisers Act, to complete their Level 5 papers through the appropriate tertiary education facility."

It is expected that all advisers will have to meet higher qualification standards under the new version of the FAA.

Ashby said there would be other benefits, too.

The new training organisation would allow Lifetime to recruit outside the main centres. Previously it had been reluctant to recruit unless new advisers had a good support network around them.

"We want to ensure when we bring new advisers to the company we provide support and training to ensure their on-going success. To achieve this we have developed an adviser recruitment programme and a comprehensive adviser learning programme. These will complement the adviser development programme overseen by Travis Hamilton which provides mentoring and leadership support to our new advisers and will help ensure success for all our new people."

He said the new competitive environment, and changes to legislation and compliance, meant advisers needed more tools and skill sets to perform their roles.

Lifetime has entered a partnership with AMP's education and learning division, QAN (Quality Advice Network). This would give ongoing compliance and sales support, training facilitation and a human resources team. But Ashby said it was not an exclusive provider arrangement.

"It is a channel for compliance, sales support and training material alongside recruitment assistance. We will be rolling this out over the coming months as part of the wider Lifetime training and development programme. This will be applicable for all advisers regardless of discipline."

The recruitment programme has now begun and the first course will go live in a little over a month.

Tags: Financial Advisers Act Lifetime