Fidelity Life chief executive Milton Jennings says that advisers - especially those with AFA status - are in a unique position as they are not only able to build long term relationships with clients, but they can specialise and tailor their services to clients needs in a way the banks are unable to.

He told delegates at the Life Brokers Association conference that in his 25 years in financial services, the most successful advisers he has come across had been specialists, targeting specific clients' and their needs.

"If you can narrow the focus you can really dominate that position," he said.

He also said that while bank staff can advise on certain products under QFE rules, AFAs and their ability to form closer client relationships presented a great opportunity for advisers.

"You've got 1.7 million KiwiSaver members that can only be serviced by that market [AFAs]. It creates enormous opportunity."

He said banks don't have the same level of commitment to relationships that good advisers have, and that the better bank advisers often quit to go it alone in the advice market.

"Relationships are key, it's a people business," he said.

"We think people do business with people, insurance is sold not bought."

Jennings says Fidelity is focused on helping advisers as they are the company's sole sales channel.

"If we're only dealing with advisers, keeping them strong keeps us strong," he said.

Jennings said that relationships were the key strength advisers had and that the new adviser regulation, in particular the creation of AFAs, "is going to set you aside."

 "The key for us is relationships, we want to be the company of choice for advisers."