Building long-term client relationships at heart of advice
Rising regulation, fast-changing mortgage rates, and tougher borrowing conditions are reshaping how Kiwis seek help with home loans. For Peter Norris (pictured), managing director of Opes Mortgages, the biggest shift isn’t just in products or policy – it’s in how the industry thinks about itself.
Instead of seeing themselves as deal-makers, he believes the best professionals now see their role as long-term partners in clients’ financial lives. And that starts with language.
From broker to adviser: more than a name change
In Norris’ view, the industry’s move away from the word “broker” to “adviser” is one of the most positive developments in recent years.
“The most positive development has been the intentional move from the word ‘broker’ to the word ‘adviser’,” the Top Adviser says. “This is a significant step in the right direction and recognises that we play a fundamental role in advising a client’s financial well-being.”
For him, that shift is already paying off in the way New Zealanders engage with mortgage advice.
“The percentage of clients using mortgage advisers to achieve their lending goals, is increasing and this means that more clients are accessing good advice to make their financial decisions,” Norris says. “The closer we can get that number to 100%, the better client outcomes will be.”
Doing what’s right vs what’s easy
Norris, who became a mortgage adviser in 2012 after 4.5 years with BNZ, says the mindset required for advice is very different from the traditional view of broking.
“Doing what is right, and doing what is easy are two very different things,” he says. “Being a broker is transactional. Being an adviser is a long-term relationship.”
For aspiring advisers, that means going beyond the immediate loan approval to really understand clients’ lives.
“It means understanding your clients short term, and long-term objectives and providing solutions that account for both,” Norris says.
In practice, that might mean challenging a client’s assumptions, revisiting structures as their circumstances change, and helping them navigate risk – not just chasing the sharpest rate on the day.
Human advice in a tech-driven world
As the industry grapples with rapid change, Norris sees technology and AI as both a challenge and an opportunity for advisers. The key, he argues, is to “use it in a way that complements the human touch, to ensure the best client outcome,” rather than letting tools replace judgement and relationships.
In a market where borrowers are under pressure and regulation is tight, the distinction he draws is stark: brokers focus on the deal; advisers focus on the person behind it – and stay with them for the long haul.
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