Newpark has listened to Advisers and responded to the need for a full-service offering for Advisers that gives them all the support required to focus on their clients. We are excited about the launch of Newpark’s ASSET team on the 3rd February .
It is a key component of Newpark’s support and compliance offering so Advisers can focus on delivery good client outcomes.
The intent is to separate the service demands from the advice or sales function so compliance ceases to become an impediment to an Adviser having meaningful advice discussions with as many New Zealanders as possible.
The Newpark ASSET team is comprised solely of NZ insurance and mortgage professionals who are experienced with New Zealand-based providers – their processes and people, and New Zealand regulations for the financial services industry. Because the ASSET team is a local NZ resource the service provided stays in Advisers’ immediate control and time zone. And knowing local providers means the relationships between the Adviser and Provider remains the same.
It will be headed up by Rae Trowell, who has 25 years’ experience in all areas of the NZ financial services industry. Trowell adds that Advisers who use the service will not be required to change their CRM systems so their data remains in their control as well.
We recognize that a number of larger Advice businesses enjoy the luxury of scale that makes hiring fulltime Administrators and training them make sense for them. Smaller scale advice practices don’t always have the time and resource to make this happen, particularly for skilled people who are only seeking full time employment. We can manage that without risk for them.
The ASSET offering will be fully customisable to any Adviser business and offers an a la carte menu of services. This creates the opportunity to determine how much time and support an individual business requires. The value allows Advisers to control direct costs to their business without assuming any of the hassles that employing or contracting someone can bring. It also means that there is no flat fee for service you may or may not use.
The ASSET team will also offer a bespoke compliance set-up to ensure adviser businesses have all forms, processes and records ready and branded for their business that will ensure good client outcomes and satisfy regulatory scrutiny.
ASSET bases its time support on work managed specifically and directly to an Adviser business. Other offerings have charged a flat fee for an unknown amount of actual time invested in support on a weekly basis.
Trowell says, “I work with Newpark because they’re striving to be New Zealand’s most trusted service provider. One reason that they’re so successful is that they have spent 20 years supporting their advisors, negotiating on their behalf and working within the industry. They have made the commitment to spend their energy and time helping advisors navigate these areas, providing training and upskilling opportunities.”