Newpark hits 150 adviser milestone

The group says it has on-boarded and accredited more than 150 advisers into its ranks, just over a year after it formally launched in the market.

Newpark launched last year after breaking away from former partner Mortgage Link. It claims it is now the "fastest growing mortgage group in the country".

The group has pitched itself against larger rivals by encouraging members to become their own FAP under the new regulatory regime. In contrast, large groups like Astute Financial want their members to come under a group FAP.

Newpark wants lenders to work with adviser FAPs and group FAPs under the new regime. In an email to advisers, the group says it has "received confirmation from ANZ and BNZ that you can keep your autonomy and brand as a standalone FAP".

In the year ahead, the group plans to launch a training and adviser mentoring programme. In 2020, the group will also change its commission payday from Friday to Thursday, implement a 12 month review of its fee model, and facilitate access to CPD learning content, it said. 

Other initiatives planned for 2020 include a road show with supplier partners, redrafting broker agreements, and working with businesses to get CRM software SOC2 and ISO75k compliant.

"The bottom line is that we're focused on assisting advisers control their aggregation costs, control their CRM, and take control of their continued professional development," said Andrew Scott, Newpark Home Loans general manager.