New aggregator gets cybersecurity boost

Trail has received an ISO 27001 cybersecurity certification.

ISO 27001 is an international standard for IT security management systems, and has been introduced to create a best practice for storing data.

Achieving a certification can take between 12-18 months. 

Trail, formed in 2017, claims to be one of the first NZ adviser service providers to reach the standard.

Chuck Slogrove, Trail's founder and chief executive, said: “Over the last 12-months we’ve seen a number of financial institutions in New Zealand really struggle with cybersecurity. The financial advisers we support rely on us to protect the integrity and security of their data. This certification is a testament to how seriously we take the trust that our clients place in us.”

Slogrove believes the certification will give his new mortgage aggregator group, the Kiwi Adviser Network (KAN), a competitive advantage. 

The certification will become a requirement in most commercial head agreements between dealer groups and product providers, the company said.

KAN will see aggregation and compliance services built into the Trail platform. 

The new aggregator is ramping up ahead of March 15 and hopes to lure new advisers with its tech and compliance credentials.

KAN is a mortgage and insurance adviser group. 

According to a presentation from late last year, KAN has different membership options for advisers.

For mortgage advisers, the group will charge from $900 per person per month for one-person businesses, to $750 per person per month for businesses with more than six people.

For insurance-only advisers, KAN will charge from $600 a month per person for one-person businesses, to $500 per month per person for businesses with more than six people.