Why advisers’ clients deserve a level playing field with banks
Heather Roney-Kleb (pictured) has a clear message for lenders: borrowers who choose a mortgage adviser should get the same treatment as those who walk into a bank branch.
The Mortgage Ladies and Co adviser, who has spent more than two decades in banking and mortgage advice, says the gap between how lenders treat their direct channel and the adviser channel is one of her biggest concerns.
“A customer who chooses to work with a mortgage adviser should not be disadvantaged simply because they’ve elected to seek independent professional advice rather than approaching a bank directly,” Roney-Kleb said.
Channel conflict: putting the consumer first
Roney-Kleb said some lenders are adopting strategies and processes that risk undermining independent advisers, from differences in customer experience and turnaround times to how particular applications are handled.
Her concern reflects a wider frustration among advisers. In NZ Adviser’s Advisers on Lenders 2026 report, released this week, 37.65% of advisers said channel conflict remains a major problem, down from 57.47% in 2025.
For Roney-Kleb, the principle is simple. “At the end of the day, the consumer should be at the centre of every lending decision,” she said. “Not the distribution channel. Not internal sales targets. Not the bank’s preference for how a customer engages with them.”
She wants greater transparency, consistency, and collaboration between lenders and advisers, arguing that the two should be working together for better customer outcomes rather than advisers having to push past unnecessary barriers.
Why she left banking
Roney-Kleb’s view is shaped by 14 years in retail banking, which she left at the end of 2016 to become an independent adviser. She has since become a regular in NZ Adviser’s rankings, named in the Top Brokers 2026 report, the 2024 and 2025 Top 25 Brokers lists, and Top Advisers 2025, as well as being a multiple Elite Women honouree.
While Roney-Kleb loved helping customers buy their first homes, she grew frustrated with being limited to a single lender. “I was expected to deliver the best possible outcomes for my clients, yet I only had one bank’s products, policies and lending appetite at my disposal,” she said.
Roney-Kleb knew there were times when another lender could offer a better solution, but she couldn’t explore it. “I felt like I was letting my clients down, and that didn’t sit comfortably with me,” she said.
Roney-Kleb describes leaving banking as one of the best professional decisions she has made. Known to clients as the “Mortgage Mother Hen”, she says she is fiercely protective of the people she works with, particularly first-home buyers.
Advocacy beyond the spreadsheet
Roney-Kleb says some of her most rewarding work has been with clients who were told by a bank that homeownership wasn’t achievable. Rather than accepting a decline as final, she has gone back to lenders, gathered further evidence, and worked to find a responsible lending solution.
As she puts it: “It’s not about proving a bank wrong. It’s about making sure a client’s circumstances have been properly understood and fairly assessed.”
That advocacy cuts both ways, Roney-Kleb added. Sometimes the most valuable advice is telling a client that now isn’t the right time.
Chase the outcome, not the commission
For new advisers, Roney-Kleb’s first piece of advice is to find a good mentor. But her strongest message is about motivation: “Don’t chase the commission. Chase the right outcome.”
She acknowledges that can be hard for self-employed advisers trying to build a client base. Even so, she believes that “if you give good, honest, ethical advice and genuinely look after your clients, your rice bowl will always be filled”.
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