Almost 100 advisers have completed all available modules in the Partners Life Adviser Support Programme which was launched just over a year ago.
The programme, designed to help adviser business owners navigate the new regulatory regime, has so far seen 93 advisers complete the first five modules, says the company. In addition, almost 500 advisers are partway through the programme.
Mark Banicevich, industry engagement manager at Partners Life, left the FMA to join the insurer and help financial advisers prepare their businesses for the new licensing regime.
The Partners Life programme has five modules, with a total of 10 parts, with one more module to be released. Modules include business operations, finances, human resources, and governance.
“We released about one part each month during 2019 to help advisers pace through the programme,” says Banicevich.
“Once the FMA release full licensing requirements we will develop the sixth and final module.”
Partners Life worked with Rosewill Consulting and developer Skillsnacks to formulate and manage the programme. Banicevich says Partners Life cannot access any user data.
…we believe this programme is a significant help to small adviser businesses.
“It is confidential to the user,” he says. “And with many advisers still deciding how they will transition we believe this programme is a significant help to small adviser businesses.”
The Partners Life Adviser Support Programme is free to adviser businesses who work with the firm. However, other financial advice businesses can access the programme for a standard one-off fee of $995+GST each.
The programme is product agnostic and designed for small businesses with up to five advisers.
“Some larger businesses find the programme useful as a framework to develop their own documentation, and expand the output to be more suitable to their businesses,” says Banicevich.