A free nz community service
Adviser or DIY?
You don't know what you don't know
The minimum education for a Registered Financial Adviser is New Zealand Certificate in Financial Services - Level 5. This is not a simple test with a few tick boxes, this course is serious and takes a lot of study over months, with a difficult exam and projects to complete before the Qualification is obtained.
Today there are also very strict Government guidelines, compliance, and rules that all Registered Financial Advisers must follow with all clients.
Gone are the days when a person could be employed with an insurance company with no experience, and be out selling insurance within a week. Today's Advisers are very professional, highly monitored, and highly skilled. They are also held accountable for the advice they provide.
Most Advisers are passionate about what they do and have years of experience, some have decades of experience. Advisers generally have access to multiple insurance companies, giving them a range of products often up to 30-40 different products, which they can assess as to the suitability for any person's particular needs.
Insurance is a lot more complex than the average person thinks. There are a lot of traps and clauses to be aware of. Product differences to understand. Insurance company differences and processes. Different covers to match and mix to make sure a person is properly covered at the most beneficial price. It is not an easy task - but that is what Registered Financial Advisers will do for you......
...... and they do it for Free, even paying for the petrol themselves to drive to your house or office for meetings.
Advisers are paid by the Insurance Companies upon sale of products. The good news is, the commissions Advisers receive are all about the same, so that means Advisers are not generally biased towards any particular insurance company.
Registered Financial Advisers can be trusted and are great for quality insurance advice. They will also do annual or bi-annual reviews, usually also for Free, to keep your insurances up to date and in order.
OR....... You could try and do it all yourself, but getting it all correct by yourself is not easy, with errors being costly and often long term.