Sovereign supports advisers in watershed year for insurance industry

 

Sovereign announced at the SovNet conference in Auckland last week that it would pay for the advisers in its network to study towards a National Certificate in Financial Services, at a cost of about $1400 each. They will be supported in their studies by Sovereign’s team of business development managers, most of whom have completed two of the unit standards in Standard Set A.

 

“It is critical that our advisers, as well as our staff, not only meet the new industry standards but exceed them,” says Sovereign’s chief executive, Charles Anderson.

 

“The regulation framework being introduced creates a huge challenge but will allow us to set new benchmarks in the industry. We are investing heavily in education to ensure that everyone who works with and for Sovereign shares the vision and has the tools to succeed in the new environment. This will have significant benefits for the company, the advisers and – most importantly – our clients.

 

“Good regulation is a good thing – it gives customers more confidence in suppliers. Anything supportive of the consumer we shouldn’t be afraid of.”

 

Sovereign told the advisers at the conference that navigating the regulatory changes required them to be well-equipped, dedicated and flexible. “Because you are part of our premier network, we want you to have the best chance of success in this new era. Therefore, we have heavily invested in giving you all the necessary tools.”

 

The new training opportunity will be a partnership between Sovereign and the Open Polytechnic, which will enable the advisers to study flexibly, according to a schedule that suits them. The course will be taught in a tailored mix of individual and group learning.

 

The Open Polytechnic is accredited by the standards-setting body for the financial sector, ETITO, due to its academic reputation and ability to develop industry-specific training programmes designed for New Zealand regulatory frameworks.

 

The polytechnic will provide integrated training solutions to help SovNet advisers obtain the National Certificate in Financial Services (Level 5).

 

Ongoing training requirements will continue to be delivered through SovNet’s business development group meetings.

 

Sovereign is also introducing a new best-practice advice process, which it is encouraging advisers to adopt, to support them to provide clients with a robust financial advice process, protecting advisers and ensuring any recommendations will meet client needs.