Kepa to bump up adviser fees

In a message to advisers, Jeff Page said the group had reviewed its monthly subscription amounts that advisers are paying to administer the home loans aggregation business.

"We have decided that if a member of Kepa Home Loans is not placing their risk business and or risk referrals through Kepa either directly or via a Kepa Risk member, then the monthly subscription will increase to $800.00 per month, plus GST."

That is an increase from $400. Kepa is also reducing the discount it previously offered advice businesses with multiple members. It compares to $500 per adviser for NZFSG.

The change will take effect from August 1.