Hundreds of would-be advisers sign up
Strategi said it had had 476 advisers through the Residential Property Lending strand of the New Zealand Certificate in Financial Services, level five, over the past year.
At the PAA, learning and development manager Angi Mann estimated it had another 70.
All of the banks, with the exception of ASB, require advisers to have completed an introductory qualification before they can be accredited.
“I suspect that the only reason new entrants are doing the residential property lending strand is because the lenders require them to have attained this as part of being accredited with the respective lender. If the lenders were not being prudent in this regard, then it is likely we would still see people being in one occupation yesterday, getting their name on the FSPR today and being able to sell mortgages to the public tomorrow,” Strategi managing director David Greenslade said.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
