Lynfield College
Financial Adviser Kaiwhakatakoto Kaupapa Pūtea
Financial advisers give advice about financial planning, investing, insurance and other financial services.
To practise as an authorised financial adviser or a registered financial adviser you must be listed 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.
NZX Adviser
To become an adviser in a company that participates in the New Zealand Stock Exchange (NZX), you need to:
- be employed by an NZX participant firm
- sit an in-house online test
- pass Kaplan Professional papers 508N and either 405N or FIN329, which are part of the NZX Diploma, or have other relevant qualifications
- have two years of relevant financial markets experience over the last five years
- have no convictions for fraud or dishonest activities, and never have been bankrupt or responsible for the liquidation of a company.
You can complete the Kaplan Professional papers while training on the job as an assistant adviser.
- NZX website - information on becoming an accredited NZX adviser
- Kaplan Professional website - information about the NZX diploma
Useful Experience
Useful experience for financial advisers includes:
- banking or customer service
- accounting or auditing
- management.
Personal Qualities
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.
Useful Experience
Useful experience for financial advisers includes:
- banking or customer service
- accounting or auditing
- management.
Subject Recommendations
NCEA Level 3 is required to enter tertiary training. Useful subjects include English, business studies, maths with statistics, economics or accounting.
Financial Advisers can earn around $70K-$120K per year per year.
Financial advisers may progress to set up their own financial planning businesses, or move into management roles.
Financial advisers may specialise in:
- insurance
- investments
- risk management
- sharebroking
- underwriting
- mortgages.
They may also specialise as an:
- NZX Adviser
- NZX advisers provide advice to clients on transactions relating to New Zealand Stock Exchange products.
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