Old approach won't always stack up

Partners Life has launched a new adviser support programme, which is designed to help advisers collate information about their business processes, to work towards entity licensing.

The first module is available now and the second will be released in February. 

Wright said there would be significant work involved for financial advisers who wanted to license their businesses as financial advice providers once the Financial Services Legislation Amendment Bill comes into force.

"Advisers that choose to be licensed will no doubt need a bunch of stuff to give to the FMA," he said.