One body to rule them all

Mortgage advisers could well end up in having a new association if plans released today get the green light from members of the IFA and PAA.

The two associations have told members that they are looking to create a new organisation to represent all advisers in New Zealand. It isn't been billed as a merger of the IFA and PAA - and for good reason. It probably wouldn't fly.

My guess, from the feedback I have had over the years is that mortgage advisers would be luke warm on such an idea. Afterall the PAA essentially took over the NZ Mortgage Brokers Association and many of its members feel like they are second class citizens in the PAA.

The PAA, they tell me, is much more focussed on serving the bigger part of its members - insurance advisers.