Financial Adviser Kaiwhakatakoto Kaupapa Pūtea
Financial advisers give advice about financial planning, investing, insurance and other financial services.
All financial advisers must be registered on the Financial Service Providers Register.
Financial advisers may do some or all of the following:
- identify clients' short, medium and long-term financial goals
- prepare suitable financial or investment plans
- encourage clients to keep to their plans
- review clients' taxation, retirement planning and sources of income
- review clients' estate planning and insurance needs
- report on clients' investments every three to six months.
Useful experience for financial advisers includes:
- banking or customer service
- accounting or auditing
Financial advisers need to be:
- honest and trustworthy
- able to keep information confidential
- able to use good judgement
- good at communicating and listening
- skilled at planning
- good at sales
- strong problem solvers.
Financial advisers need to have:
- the ability to understand and interpret financial and investment markets
- knowledge of financial planning, taxation, investments, mortgages and insurance
- the ability to research market and financial information.
- usually work regular business hours, but may work weekends or evenings to meet deadlines
- work in offices, but may travel to visit clients.
NCEA Level 3 is required to enter tertiary training. Useful subjects include English, business studies, maths, economics and accounting.
Financial advisers may progress to set up their own financial planning businesses, or move into management roles.
Financial advisers may specialise in:
- risk management
Years Of Training1-2 years of training usually required.
To become a financial adviser you need to have:
- a New Zealand Certificate in Financial Services (Level 5), with a strand in one of the following: Investment; Life, Disability, and Health Insurance; General Insurance; Residential Property Lending
- a Financial Advice Provider (FAP) licence or be engaged to operate under a Financial Advice Provider's licence as a financial adviser or a nominated representative.