The Financial Markets Authority, which is bringing in more stringent rules for financial advisors next March, has been told about the plans.
Travel brokers have been rocked by the Covid-19 travel downturn and a number of them are now being given the opportunity to turn their considerable customer service skills to the financial sector.
Travel Managers Group is part of Flight Centre and has 180 brokers the length of the country. It is not yet known how many will take up the training.
"Our highly skilled travel brokers hold fantastic client relationships that are built on trust. They're in tune with what's happening in clients' lives, and they're already a part of major life events like weddings and relocations, so pivoting to insurance is a natural progression,'' said general manager Cath McLeod.
The partnership was created to expand the earning potential of travel specialists, at a time when international travel was at a record low, she said.
Just on 73 per cent of brokers were women, statistically some of the hardest hit by unemployment during Covid-19.
"Above all else, this is a great opportunity for clients, who will soon be able to receive advice on a range of insurance services under one roof, from a trusted and familiar face".
Director of industry partnership at the Ministry of Social Development, Amanda Nicolle, said MSD was pleased to be able to support these travel brokers to expand their knowledge and continue to use their customer service skills.
"The partnership gives participants the certainty of being employed with a one-year fixed term contract, which is important given the impact Covid-19 has had on international travel and their income as travel brokers."
Ratebroker CEO Matthew Grant said the firm understood that quality financial advice could make a "huge difference" in Kiwis' lives, especially during times of significant changes to personal circumstances.
"If Covid has taught us anything, it is that being prepared for the unexpected is more important than ever."
The partnership, delivered through Ratebroker's financial advice business Foundation Advice Ltd, will have a national presence.
TMG is an IATA licensed and bonded agency formed in 2002 by a group of brokers and is now a part of Flight Centre Travel Group.
In October Flight Centre announced it would cut 160 jobs and close 23 stores on top of heavy cuts earlier this year.
Most of the job losses would come from its retail arm and follow about 600 people across the group who have been made redundant or left voluntarily since the pandemic struck.
Flight Centre had 1200 staff and more than 130 stores at the start of the year. It announced 58 store closures in April.
