'What some financial advice with that holiday?'

'What some financial advice with that holiday?'

A new partnership between Travel Managers Group (TMG), international financial technology business, Ratebroker, and the Ministry of Social Development (MSD) is opening doors for experienced New Zealand travel brokers so they can get back in business – this time providing financial advice.

Travel brokers have been particularly impacted by the Covid-19 travel downturn and a number of them are now being given the opportunity to turn customer service skills to the financial

sector.

The partnership will allow the travel brokers to be employed through Ratebroker, and provide them with access to a fully-funded comprehensive training and mentoring programme. The retrained brokers will be able to offer clients life and health insurance, mortgage protection and income insurance protection, in addition to their usual travel offerings.

Clients will only be able to receive financial advice from brokers who have completed the required training and mentoring programme. Each participant will receive a one-year fixed term contract and an opportunity to work across both industries on an on-going basis, with financial certifications and registrations behind them.

MSD funding will be used to help with the cost of the initial 12 weeks training, registration and certification. 

Cath McLeod, general manager,TMG says brokers are in tune with what’s happening in clients’ lives, and they’re already a part of major life events like weddings and relocations, so moving to insurance is a natural progression.

‘The partnership was created to expand the portfolios and earning potential of travel specialists, at a time when international travel is at a record low,’ says McLeod. ‘Seventy three percent of our brokers are women, statistically some of the hardest hit by unemployment during Covid, and it’s important for us to keep them working.’ 

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