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The newly formed mortgage adviser association has appointed its first country manager.
The freshly formed Finance and Mortgage Advisers Association of New Zealand (FAMNZ) has announced the appointment of Leigh Hodgetts as its country manager.
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Ms Hodgetts previously held senior roles at Astute Financial Management NZ, major bank ANZ, BNZ, Kiwi Adviser Network, and most recently with Financial Advice New Zealand. The new appointee also held the role of manager, retail operations with the Financial Markets Authority.
FAMNZ and Finance Brokers Association of Australia (FBAA) managing director Peter White said the appointment of Ms Hodgetts was a “testimony to the positive way FAMNZ is being viewed across the nation and also highlights the standard we want to set within the sector.”
“We are here to represent mortgage advisers better than ever before by expanding the market share for advisers, increasing professionalism and lifting standards,” Mr White said.
FAMNZ was established by the Finance Brokers Association of Australia (FBAA). The FBAA announced the formation of its NZ arm during its national Think Forward conference on 3 November 2023.
The move to open a New Zealand arm had been in the works for the majority of 2023 after the FBAA had observed “opportunities for brokers” in New Zealand, as well as brokers in Australia looking to expand into other markets.
Mr White further stated that the FBAA recognised that “Kiwi borrowers needed greater choice and service”.
“Our message to consumers is that only advisers provide a greater choice of lenders and products, and most importantly only advisers are industry professionals obliged by regulation to act in the best interests of the borrower,” Mr White added.
“A lender can only offer you the choice of their own products.”
Commenting on her appointment, Ms Hodgetts stated she will immediately provide members with access to “high-quality professional development and educational initiatives”.
“Advisers have never received the education, support and benefits that FAMNZ will provide, because we are a committed association by advisers for advisers,” Ms Hodgetts said.
Ms Hodgetts stated the FAMNZ has begun engaging with regulators and commenced discussions surrounding clawbacks and other key issues important to advisers.
“I will be talking to advisers, aggregators and other industry professionals to hear their concerns and to do whatever it takes to lift the market share for advisers,” she said.
Mr White declared the establishment of the FAMNZ was a “big deal for mortgage advisers and a huge deal for Kiwi consumers”.
“Welcome to a new world,” Mr White said.
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