NZFSG‘s new Go for Green initiative recognises advisers who are committed to enhancing business practices and doing more for their clients.
What does Going for Green achieve?
AS THE new financial advice regulatory framework takes shape, many advisers are settling in and thriving in the evolving landscape, according to Trecia Brown, head of customer outcomes at NZ Financial Services Group (NZFSG).
“We’re thrilled by how many advisers have embraced this opportunity and been on this journey with us – together raising the bar across the sector and delivering better financial outcomes for Kiwis,” she exclaims. As the largest community of financial advisers in New Zealand, NZFSG takes its role seriously. Through significant investment in technology and support, it has stayed at the forefront of compliance innovation, enabling advisers to adapt seamlessly to the new regime and operate safely and sustainably.
“As a network, we’ve done the hard yards, and although there is no finish line, now’s a good time to acknowledge and celebrate our success, both collectively and as individual businesses,” says Brown. This sentiment inspired NZFSG to launch the Go for Green initiative.
Initially designed to help advisers meet the green file review standards, Go for Green quickly evolved into a platform for supporting and celebrating advisers committed to enhancing business practices and doing more for their clients. Those achieving Go for Green quality advice standards are invited to share their knowledge, experiences and best practice tips with the wider network.
Two standout examples of businesses thriving under Go for Green are Katherine Kraakman, director of Priority Home Loans in Waikato, and Sam Parsons, director and adviser at Mortgage First in Canterbury.
Better business practices for better customer outcomes
Priority Home Loans comprises a close-knit team of six advisers plus admin staff with a shared commitment to communication and continuous improvement for the benefit of their clients.
“I never imagined I’d have a team of advisers working with me! We have such an amazing culture – they’re like a second family to me,” Kraakman beams. “I’ve had to expand due to the volume of referrals and repeat business coming through, as it’s so important for us to provide the level of service people deserve.”
Her team holds weekly sessions focused on compliance training, product updates and discussions to resolve challenges in deals and share success stories.
Katherine Kraakman,
Priority Home Loans
For Sam Parsons, Mortgage First’s core focus of delivering the best outcomes for its clients has remained unchanged, even as processes have evolved. Parsons and his wife, Chloe, took over the family business four years ago. He credits his parents’ 20-plus years of banking and lending experience with setting the foundation for their success as they’ve adapted and grown the business in the new regulatory environment. “Those early years working with Rob and Vicki were important for me not only to learn how to do the job but also to understand why the business has been so successful.”
Challenges and opportunities
Kraakman shares that by embracing the new regime, and running with it from day one, the Priority Home Loans team has been able to follow a process, streamline the business and keep things simple.
“We haven’t found it too difficult as we were already doing a lot of things right. It was just a matter of working with NZFSG to make a few tweaks to our processes. We actually find it easier to work under this regime. There is a more structured process to follow, so we know what we are dealing with – there are no grey areas,” she explains.
Parsons points out that establishing clarity around best practices as an industry has been one of the more challenging aspects. “There are guidelines and expectations, but every adviser and business operates slightly differently … What works for us does not necessarily mean that it’s an acceptable process for all.” He acknowledges that the templates provided by NZFSG have been helpful in that respect.
He adds that while developing robust systems and processes has been time-consuming, and there has been doubt at times, the benefits are now clear. His team has perfected an end-to-end advice process, improving the client experience. “Each file has a thorough internal check-over prior to settlement, and we have gone ‘all in’ with the MyCRM system. This has certainly helped create efficiencies and makes it easier to evidence what we already do,” he says.
What clients are saying
The value of quality financial advice is particularly relevant in the current environment, when many Kiwis are navigating challenging financial decisions.
“The majority of clients – and us included – would love to be able to press a button and be pre-approved. So the additional paperwork can be a struggle at times,” Parsons admits. “But once clients understand what we are asking for and why, this generally means things happen a little quicker.”
With a more regulated industry, he believes there is more trust and appreciation of good systems. “Doing things right results in better outcomes for clients. Happier clients mean more referrals,” he says.
The technology behind MyCRM allows the Priority Home Loans team to deliver a comprehensive advice process, ensuring compliance while meeting client needs.
“Our customers really value the Hello Pack – which includes the Disclosure Guide and Online Fact Find – as it’s very simple to complete. They also comment on how professional it looks. The Game Plan [Statement of Advice] is also well received because it clearly outlines recommendations,” Kraakman says.
Tips for advisers to Go for Green and get ahead
Kraakman suggests that regular team meetings and sharing experiences provide fresh perspectives on achieving the best client outcomes.
Her advice? “Stick to the processes provided by NZFSG and you can’t really go wrong. Having checks in place for when you are really busy makes sure that you haven’t missed any of the steps.”
Parsons emphasises the importance of thorough documentation: “Notes, notes, notes! It’s crucial to keep detailed records of client conversations. Clients need to have a clear understanding of what they’re doing and where they’re at in the process at all times.”
Tips for advisers to Go for Green and get ahead
- A comprehensive MyInduction Programme for advisers new to the network
- A compliance-by-design approach to its CRM (MyCRM), making it easy for advisers to stay safe and save time
- A varied learning and development plan for advisers to pick and choose from based on their business needs
- One-on-One and group business coaching that covers Go for Green focus areas such as client file reviews, compliance history, business policies, continuing professional development (CPD), website and social media
- Dedicated Regional Manager support
NZFSG offers comprehensive compliance and Go for Green support for advisers operating under its FAP, as well as those with their own FAP who join the Assurance Programme. “Our aim is to offer flexibility and choice so advisers can meet compliance requirements and get on with what they do best,” Brown concludes.
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