Decoding New Zealand's Lending Landscape

13/12/2023

Jess

What is needed to Mortgage Adviser  transfer - 

  • FA Form

  • Company Extract 

  • Certificate of Incorp 

  • Adviser Schedule 

  • Verified Proof of Address

  • Verified Passport

  • PI Certificate

  • DRS Membership

  • CV

  • Certificates 

  • FSPR

  • Background Check

  • Signed Lender Forms 

Insurance

  • Passport

  • Visa 

  • Proof of address 

  • PI Certificate 

  • Studies 

  • FSPR

  • Agreement 

  • Background check

  • DRS 

What is the process of a mortgage adviser changing aggregator?

When considering making the change from one aggregator to another, there are three key steps:

  • Transferring bank/insurer accreditations

  • Uploading documentation 

  • Completing credit and criminal history

Transferring bank/insurer accreditations

Keep reading and I will tell you what is needed for the banks to transfer you under the Kiwi Adviser Network Aggregation.

If you are new to industry or in the industry the lenders still require documents to be submitted to keep your accreditation active. As we have a range of lenders on our panel we need to collect the documents that will service all of them. 

Before we start with the documents that they will require we need you to complete the Financial Adviser Form (FA Form). This is a form that we at Kiwi Adviser Network (KAN) use to collect the information needed for the lenders. Some of the lenders require this form as well so completing it is for both KAN and the Lenders. 

You will need to start with verifying your documents - your passport and proof of address, you can do this through a JP. Make will also need to supply your certificates, this will help us understand if you are a Mortgage Adviser or Insurance Adviser and what advice you will be giving to clients. 

We will take a look at your application and start to gather information such as the company you are trading as certificate of incorporation and the company extract. If this is your company or someone you work for, these lenders need to know who you work for!

Next is your professional indemnity certificate, you may have this on hand already or may need to collect one - if you need help with this just reach out to our staff. We will also need confirmation that you are a part of a dispute resolution provider, this is someone of the likes of FSCL, FDRS etc. 

From there we will need your CV, this helps the lenders understand what experience that you have - so make sure this is up to date! 

We will also need confirmation that you and your FAP are on the FSPR register as well as registered and linked - if you need help with this please let us know! 

Lastly we will send the following documents for you to complete - Filled out lender forms, your adviser schedule agreement (note this is a different agreement that you have already done with Warwick) and your background check link. This gets sent to the email and phone number provided on your FA Form so if you have your business email address please use that. We will then send the main bank lender forms to your previous aggregator to sign for the agreed transfer date.

Once we have the above we are ready to submit your transfer to the lenders! Hopefully this sheds some light on why we ask you for these documents when you are transferring to Kiwi Adviser Network, if you have any questions about the process please contact Jess and she will be happy to guide you through.