Measuring adviser wellbeing in NZ
Research into the mental health and wellbeing of financial advisers in Australia showed some surprising findings. A similar survey has been launched in New Zealand and Good Returns is encouraging as many advisers as possible to take part.
Thursday, September 30th 2021, 5:29AM
The Adviser Wellbeing Research aims to understand the current state of mental health of Kiwi financial advisers, explore the habits and attitudes of those advisers who are currently experiencing positive mental wellbeing, and understand the mindsets and behaviours needed to evolve and manage significant market disruptions.
The research is being done by Sydney-based researcher Dr Adam Fraser, founder of The e-lab, and Dr John Molineux who specialises in producing reports of this nature. AIA NZ is sponsoring the research and will make the findings available to the industry.
“We’re looking to undertake a ‘temperature check’ on how advisers are going here in New Zealand," AIA NZ chief partnership insurance officer Sam Tremethick says.
"We know there has been a lot of change in recent times and this research will seek to understand the key challenges experienced by financial advisers locally, particularly in light of increased regulation, operating in a global pandemic and changing client needs.”
Dr Fraser and Dr Molineux undertook a similar research project in Australia earlier this year, which was a first-of-its-kind study into Australian financial adviser wellbeing.
Sponsored by AIA Australia, key findings showed poor levels of mental and physical health among financial advisers including;
- 73% of respondents had high levels of burnout from stress
- 67% had experienced some level of depression
- 61% had poor sleep due to stress
“We want to understand how we can better support the New Zealand adviser market to understand and improve their own health and wellbeing,” Tremethick says.
The research findings will highlight future opportunities and inform practical applications for improving wellbeing for advisers and will be shared widely to benefit the broader industry.
It is is open to all financial advisers in New Zealand, not just those involved in the life insurance business and advisers don't have to have previously placed business with AIA NZ.
“To encourage participation and show our appreciation, AIA NZ will donate $10 to the Mental Health Foundation for every New Zealand adviser wellbeing survey response received up to $2500.
"Please share your views today - these findings will benefit our industry as a whole and offer valuable insights into current states of adviser mental wellbeing,” Tremethick says.
To take part and share your views click on this link.
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