Partners Life: This is what good advisers do

She is circulating a document outlining the advice process, and what is earnt at each stage, to media, Commerce Minister Kris Faafoi’s office, the Financial Markets Authority, Reserve Bank and the Ministry of Business, Innovation and Employment.

“We believe it is essential for these audiences to truly understand the nature of a long-term life insurance contract, and the changes that are required along the way to ensure the client’s cover evolves appropriately as their circumstances change over their lifetime.

“They also need to understand the likelihood that this evolution of cover can and will occur, if there isn’t an adviser ensuring that it happens.”

Ballantyne said the document identified all the work that should be happening in respect of advisers' clients over time. That could potentially be problematic for those advisers who did not proactively service their clients.