Finally, some good news!  About licensing?  Yes, as you shall soon see.

You may or may not be aware that there has been a lot of discussion behind the scenes of late regarding the retail banks’ approach to the licensing of Advisers.  That’s you.  Most (all) of that discussion has revolved around the ‘belief’ that Advisers will operate directly under the umbrella of a dealer group.  That’s us at Newpark.

That has some serious implications.  It means that Newpark would assume joint liability for your conduct and culture.  It means costs would skyrocket.  It means that you would effectively become an employee of Newpark that gets paid your own commission. It means I would get to look over your shoulder and tell you what to do.  It means you wouldn’t be happy, and neither would I!

Newpark Home Loans has always believed in the importance of self-licensed Advisers retaining their independence and autonomy when in front of their clients.  Maybe we’re a bit ‘old school’ but Newpark has long understood this and we will continue to advocate long into the future on behalf of our Advisers.

So, last Thursday we received a letter from ANZ that clearly stated that in their view mortgage Advisers can become fully licensed as a Financial Advice Provider (FAP) and keep their accreditation intact under Newpark Home Loans.  Things only got better this morning when BNZ verbally confirmed the same understanding.

Is it good news?  It’s actually great news!  It means our Advisers will still get assistance with the licensing process, an arms-length supplied compliant CRM, a diverse range of lenders & ancillary suppliers, a formal practicing certificate program, and much, much more!