Why financial advice matters

I believe that all New Zealanders should have access to financial advice from someone who knows them, understands their family and their needs. But this is going to require us as an industry and a country to make some difficult decisions about how we pay for financial advice.

Increasingly, people are facing complex financial choices. Jobs have changed; most of us will move jobs several times over the course of our lives. Housing market trends mean that people have been finding it harder to save enough to buy their first home. Individuals are expected to take responsibility for their retirement savings. Who will help us make the right choices? Quite simply, financial advisers are equipped to do this.

Independent financial advice has significant benefits for the financial health of New Zealanders.

Advisers form long-term relationships with their clients and their families. Often what’s forgotten in the role of the adviser is what happens after a policy is purchased. It may not make big headlines, but what motivates most advisers is getting the best for their clients, and especially at claim time.