[Weekly Wrap] Forward planning and looking back
NZ Funds' Richard James said regulation would give the investment advice industry a boost - but to shore up their businesses, advisers would need to think about targeting different markets, such as young people. The key to attracting them would be to maximise the potential of KiwiSaver, he said.
James has said in the past that countries with large-scale retirement savings programmes have usually seen their adviser forces grow. He said the same was likely to happen here.
But the Finology conference this week was told that advisers should also think about how they catered for clients at the other end of the age spectrum.
There, the message was that understanding changing demographics - and the country's ageing population - was paramount for advisers. Understanding the needs and preferences of older clients was important for advisers of the future, several academics told the crowd.
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