The benefits of being a QFE adviser
The adviser spoke to Good Returns on the condition that his name and that of the QFE he operates under wouldn't be published.
He said some industry peers had reacted with surprise when told of his decision to be a QFE adviser rather than a registered or authorised financial adviser: "Some of them look at you as if you've just grown two heads."
But the adviser said that under his QFE, with whom he had an existing relationship going back several years, he has been able to "carry on doing business the way I did before" instead of having to become an AFA or drop the investment/KiwiSaver side of the business and become an RFA.
He said there were "obvious attractions" such as not having to pay the costs associated with registration and authorisation, but other advisers he had spoken to had misperceptions about what becoming a QFE adviser involves.
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