Tanya Sale, general manager of aggregator finconnect, has slammed training providers that offer quick-fire financial planning conversion courses for brokers.
"I cannot believe there are 'so called' registered training organisations out there offering a nine day course and whammo - you are a financial planner!" Sale said.
"Here we are trying to get this industry onto a professional platform by lifting the professional qualifications needed to become a mortgage broker, supporting regulation and pushing rogue writers out of the industry.
"Now we have groups out there promoting for mortgage brokers to add financial planning to their bow," Sale said.
She said someone should sit down and explain what is involved with completing a statement of advice (SOA) for a client and the ongoing service required.
"Has this industry not learnt from the past and the present ? Look what has happened to Storm [Financial] and this is due to poor financial advice," she added.
Sale questioned who would go to one of these people who just did a nine day course, and ask for advice on their life savings.
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