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Mortgage Adviser Mentorship: What is required?

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Dilip Patel

29/11/2024

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If you’re a new mortgage adviser looking for a mentor to help you get started, or considering becoming a mentor yourself, this guide will cover the key elements of mentorship. We’ll explore what makes this relationship important for building a successful career in mortgage advice and why it's a requirement for some of NZ’s major lenders.


Why Mentorship Matters for Mortgage Advisers

Mentorship gives you access to experienced professionals (skilled Mortgage Advisers) who can provide hands-on training, regulatory insights, and career guidance, essential for building a successful mortgage advice business in New Zealand.

It’s also a requirement to gain accreditation at some of New Zealand’s top lenders. Most will require new advisers to have a mentor for the first 6-12 months. Without an experienced mortgage adviser or mentor, you may be unable to engage with some providers or mortgage aggregators.

You will need a mentor to sign off after an initial 12-month period which is why it’s important to find a mentor who’s the right fit for you and in it for the long haul.

You might not need a mentor if you have had sufficient lending experience at one of New Zealand’s major banks. Please send your CV to the KAN team or your aggregator to get their perspective.

I'm a new adviser. What banks or Lenders can I get access to?

  • ASB requires a new to industry adviser to have a mentor for the first 12 months

  • ANZ often considers applicants with sufficient home lending experience and/or mentorship support

  • BNZ and Westpac require new advisers to gain 6 months industry experience prior to accreditation (this can be mitigated by having 6 months existing experience at a bank or as an admin support or loan writer for a mortgage advice business)

  • KiwiBank, TSB and some of the Non Bank Lenders might be able to work with you right away depending on what business/aggregator you join


What to Expect from a Mentorship Program

Building a Solid Foundation

Your mentor will guide you in understanding the mortgage adviser role, help you obtain necessary qualifications (if applicable), and familiarise you with industry standards, including your regulatory obligations. This solid foundation ensures you're prepared to meet all guidelines and deliver excellent customer outcomes.

Hands-On Training: Learning by Doing

You’ll get to work alongside experienced advisers, and learn how they meet clients, handle mortgage applications, and talk with the banks or lenders about client scenarios. This hands-on approach is the best way for new advisers to build confidence and real skills. 

Working in a business that processes a high volume of lending could expose you to greater learning opportunities compared to working on your own and processing fewer deals. 

Clear communication is vital for a successful mortgage adviser. Your mentor will show you how to explain mortgage options clearly and handle client questions with confidence. 

This skill will help you build strong relationships with clients and lenders, increasing your chances of converting prospects to clients and building relationships with your providers.

Compliance Made Simple

Your mentor will teach you the basics of staying compliant, with legal and ethical standards being used, which helps build client trust and avoids any legal issues.

Find your Niche

The mortgage industry has many areas you can specialise in, like assisting first home buyers, advising on investment properties, maybe its construction lending or offering your clients refinancing structuring solutions that better suit their needs. 

With the help of your mentor, you will have a chance to explore the different areas and find the niche that aligns with your skills and interests working with different lenders. 

This allows you to become an expert in a specific field, which can help you stand out to clients, creating a more focused, successful advice business. 

Ongoing Guidance: Grow your Career

Mentorship doesn't stop after the initial training period. You'll receive ongoing support from your mentor with regular check-ins, where you can discuss your progress, address any challenges, and set new career goals. 

Your mentor will help you create a career development plan, and offer advice on how to advance in your role, and guide you on growing your client base. This continuous guidance helps ensure your moving forward and growing as a mortgage adviser. 

Your mentor will be valuable to your growth, however, consider utilising other tools and resources to develop your understanding. The KAN Podcast interviews some of NZ’s top advisers and industry experts. Click here to find out more.


How do mentors typically get remunerated for their time?

Normally, a mentor will take a commission split with the adviser they’re mentoring. This can sometimes be higher during early stages due to the lower number of deals processed by a new to industry adviser as they wait for their client network and pipeline to build.

Another approach is to join a business and do an administrative or loan-writer role while you learn the basics prior to becoming a registered adviser. 

Wondering how to become a mortgage adviser in New Zealand? This guide will show you step by step how to achieve this.

Ready to Start? Reach out to the Kiwi Adviser Network and have a chat with a member of the team, who might be able to help you find a suitable mentor and kickstart your mortgage advice career.

If you’re a new mortgage adviser looking for a mentor to help you get started, or considering becoming a mentor yourself, this guide will cover the key elements of mentorship. We’ll explore what makes this relationship important for building a successful career in mortgage advice and why it's a requirement for some of NZ’s major lenders.


Why Mentorship Matters for Mortgage Advisers

Mentorship gives you access to experienced professionals (skilled Mortgage Advisers) who can provide hands-on training, regulatory insights, and career guidance, essential for building a successful mortgage advice business in New Zealand.

It’s also a requirement to gain accreditation at some of New Zealand’s top lenders. Most will require new advisers to have a mentor for the first 6-12 months. Without an experienced mortgage adviser or mentor, you may be unable to engage with some providers or mortgage aggregators.

You will need a mentor to sign off after an initial 12-month period which is why it’s important to find a mentor who’s the right fit for you and in it for the long haul.

You might not need a mentor if you have had sufficient lending experience at one of New Zealand’s major banks. Please send your CV to the KAN team or your aggregator to get their perspective.

I'm a new adviser. What banks or Lenders can I get access to?

  • ASB requires a new to industry adviser to have a mentor for the first 12 months

  • ANZ often considers applicants with sufficient home lending experience and/or mentorship support

  • BNZ and Westpac require new advisers to gain 6 months industry experience prior to accreditation (this can be mitigated by having 6 months existing experience at a bank or as an admin support or loan writer for a mortgage advice business)

  • KiwiBank, TSB and some of the Non Bank Lenders might be able to work with you right away depending on what business/aggregator you join


What to Expect from a Mentorship Program

Building a Solid Foundation

Your mentor will guide you in understanding the mortgage adviser role, help you obtain necessary qualifications (if applicable), and familiarise you with industry standards, including your regulatory obligations. This solid foundation ensures you're prepared to meet all guidelines and deliver excellent customer outcomes.

Hands-On Training: Learning by Doing

You’ll get to work alongside experienced advisers, and learn how they meet clients, handle mortgage applications, and talk with the banks or lenders about client scenarios. This hands-on approach is the best way for new advisers to build confidence and real skills. 

Working in a business that processes a high volume of lending could expose you to greater learning opportunities compared to working on your own and processing fewer deals. 

Clear communication is vital for a successful mortgage adviser. Your mentor will show you how to explain mortgage options clearly and handle client questions with confidence. 

This skill will help you build strong relationships with clients and lenders, increasing your chances of converting prospects to clients and building relationships with your providers.

Compliance Made Simple

Your mentor will teach you the basics of staying compliant, with legal and ethical standards being used, which helps build client trust and avoids any legal issues.

Find your Niche

The mortgage industry has many areas you can specialise in, like assisting first home buyers, advising on investment properties, maybe its construction lending or offering your clients refinancing structuring solutions that better suit their needs. 

With the help of your mentor, you will have a chance to explore the different areas and find the niche that aligns with your skills and interests working with different lenders. 

This allows you to become an expert in a specific field, which can help you stand out to clients, creating a more focused, successful advice business. 

Ongoing Guidance: Grow your Career

Mentorship doesn't stop after the initial training period. You'll receive ongoing support from your mentor with regular check-ins, where you can discuss your progress, address any challenges, and set new career goals. 

Your mentor will help you create a career development plan, and offer advice on how to advance in your role, and guide you on growing your client base. This continuous guidance helps ensure your moving forward and growing as a mortgage adviser. 

Your mentor will be valuable to your growth, however, consider utilising other tools and resources to develop your understanding. The KAN Podcast interviews some of NZ’s top advisers and industry experts. Click here to find out more.


How do mentors typically get remunerated for their time?

Normally, a mentor will take a commission split with the adviser they’re mentoring. This can sometimes be higher during early stages due to the lower number of deals processed by a new to industry adviser as they wait for their client network and pipeline to build.

Another approach is to join a business and do an administrative or loan-writer role while you learn the basics prior to becoming a registered adviser. 

Wondering how to become a mortgage adviser in New Zealand? This guide will show you step by step how to achieve this.

Ready to Start? Reach out to the Kiwi Adviser Network and have a chat with a member of the team, who might be able to help you find a suitable mentor and kickstart your mortgage advice career.

If you’re a new mortgage adviser looking for a mentor to help you get started, or considering becoming a mentor yourself, this guide will cover the key elements of mentorship. We’ll explore what makes this relationship important for building a successful career in mortgage advice and why it's a requirement for some of NZ’s major lenders.


Why Mentorship Matters for Mortgage Advisers

Mentorship gives you access to experienced professionals (skilled Mortgage Advisers) who can provide hands-on training, regulatory insights, and career guidance, essential for building a successful mortgage advice business in New Zealand.

It’s also a requirement to gain accreditation at some of New Zealand’s top lenders. Most will require new advisers to have a mentor for the first 6-12 months. Without an experienced mortgage adviser or mentor, you may be unable to engage with some providers or mortgage aggregators.

You will need a mentor to sign off after an initial 12-month period which is why it’s important to find a mentor who’s the right fit for you and in it for the long haul.

You might not need a mentor if you have had sufficient lending experience at one of New Zealand’s major banks. Please send your CV to the KAN team or your aggregator to get their perspective.

I'm a new adviser. What banks or Lenders can I get access to?

  • ASB requires a new to industry adviser to have a mentor for the first 12 months

  • ANZ often considers applicants with sufficient home lending experience and/or mentorship support

  • BNZ and Westpac require new advisers to gain 6 months industry experience prior to accreditation (this can be mitigated by having 6 months existing experience at a bank or as an admin support or loan writer for a mortgage advice business)

  • KiwiBank, TSB and some of the Non Bank Lenders might be able to work with you right away depending on what business/aggregator you join


What to Expect from a Mentorship Program

Building a Solid Foundation

Your mentor will guide you in understanding the mortgage adviser role, help you obtain necessary qualifications (if applicable), and familiarise you with industry standards, including your regulatory obligations. This solid foundation ensures you're prepared to meet all guidelines and deliver excellent customer outcomes.

Hands-On Training: Learning by Doing

You’ll get to work alongside experienced advisers, and learn how they meet clients, handle mortgage applications, and talk with the banks or lenders about client scenarios. This hands-on approach is the best way for new advisers to build confidence and real skills. 

Working in a business that processes a high volume of lending could expose you to greater learning opportunities compared to working on your own and processing fewer deals. 

Clear communication is vital for a successful mortgage adviser. Your mentor will show you how to explain mortgage options clearly and handle client questions with confidence. 

This skill will help you build strong relationships with clients and lenders, increasing your chances of converting prospects to clients and building relationships with your providers.

Compliance Made Simple

Your mentor will teach you the basics of staying compliant, with legal and ethical standards being used, which helps build client trust and avoids any legal issues.

Find your Niche

The mortgage industry has many areas you can specialise in, like assisting first home buyers, advising on investment properties, maybe its construction lending or offering your clients refinancing structuring solutions that better suit their needs. 

With the help of your mentor, you will have a chance to explore the different areas and find the niche that aligns with your skills and interests working with different lenders. 

This allows you to become an expert in a specific field, which can help you stand out to clients, creating a more focused, successful advice business. 

Ongoing Guidance: Grow your Career

Mentorship doesn't stop after the initial training period. You'll receive ongoing support from your mentor with regular check-ins, where you can discuss your progress, address any challenges, and set new career goals. 

Your mentor will help you create a career development plan, and offer advice on how to advance in your role, and guide you on growing your client base. This continuous guidance helps ensure your moving forward and growing as a mortgage adviser. 

Your mentor will be valuable to your growth, however, consider utilising other tools and resources to develop your understanding. The KAN Podcast interviews some of NZ’s top advisers and industry experts. Click here to find out more.


How do mentors typically get remunerated for their time?

Normally, a mentor will take a commission split with the adviser they’re mentoring. This can sometimes be higher during early stages due to the lower number of deals processed by a new to industry adviser as they wait for their client network and pipeline to build.

Another approach is to join a business and do an administrative or loan-writer role while you learn the basics prior to becoming a registered adviser. 

Wondering how to become a mortgage adviser in New Zealand? This guide will show you step by step how to achieve this.

Ready to Start? Reach out to the Kiwi Adviser Network and have a chat with a member of the team, who might be able to help you find a suitable mentor and kickstart your mortgage advice career.