About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Saturday, December 20th, 2:10PM
rss
Latest Headlines

Workplaces the next battleground for advisers

Workplaces will become increasingly important for financial advisers in future as the client base and focus of the industry changes, NZ Funds Management chief executive Richard James predicts.

Thursday, November 8th 2012, 6:50AM

by Niko Kloeten

The merits of trying to promote adviser businesses through workplace seminars and other programmes is a topic of debate in the industry, with some seeing it as a loss leader that will pay off in future.

Speaking at the NZ Funds adviser session in Auckland yesterday, James said the company’s foray into workplace financial advice had seen better-than-expected results so far.

NZ Funds works with some of New Zealand’s best-known corporate names and it has developed software specifically focused on workplace advice, including a new programme designed for businesses with fewer than 100 employees.

“We’ve been positively surprised about how receptive companies are to the programme and to allowing us in to talk to their people about financial decision-making.  I have a reasonably strong confidence this part of the business will be a success,” James said.

“We see the workplace as the most profitable battleground of the future for financial advisers.”

It hasn’t just been the response from employers that has impressed; James said the programmes have been achieving instant results with a large number of the employees taking part.

“Anecdotally 5-10% of the people who go through these programmes immediately want to talk to an adviser,” he said.

“Over time an increasing proportion of people will realise they can’t work it out for themselves… when their problems get to a certain size they realise they need help.”

James said the importance of workplace advice would increase as the financial planning industry widened its focus from those with lump sums to invest to those in the accumulation phase.

This shift, he said, would be driven in large part by the rise of KiwiSaver.

“Years ago there were hundreds of thousands of potential clients… today there are millions.”

Niko Kloeten can be contacted at niko@goodreturns.co.nz

« KiwiSaver guidance could be challenged in courtFund managers call for level playing field »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • QFEs call for simplification
    “I believe that all advisers should personally be registered or licensed for the services that they provide. Whether working...”
    1 day ago by I was wondering
  • Fund brings active and passive together
    “Hi Brent Sheather Not sure if SmartShares website is accurate or not but the 3.2% & 2.8% relate to the NZX Midcap (to...”
    2 days ago by noidea
  • Fund brings active and passive together
    “Hi Bobby WTF indeed but the WTF should be directed to MJW who may well be on serious drugs. SmartFONZ actually returned,...”
    2 days ago by Brent Sheather
  • Fund brings active and passive together
    “I don't read MJW but FundSource correctly has FNZ ETF returning 2.8% for the Sept quarter. Happy to send you a copy of the...”
    2 days ago by samstanley
  • Fund brings active and passive together
    “Regardless of timing the launch of the Harbour Advanced Beta Fund is a huge achievement. Well done to Jody, Andrew and team...”
    2 days ago by samstanley
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AMP Home Loans 7.24 5.69 6.19 6.55
AMP Home Loans $200k+ 7.14 5.59 6.09 6.45
AMP Home Loans LVR <80% - - 5.75 6.09
ANZ 6.74 6.09 6.19 6.39
ANZ Special - 5.59 5.75 5.99
ASB Bank 6.75 5.99 6.19 6.39
ASB Bank Special - 5.59 5.75 5.85
BankDirect 6.75 5.99 6.19 6.39
BankDirect Special - 5.59 5.75 5.85
BNZ - Classic - 5.69 5.75 5.99
BNZ - GlobalPlus 6.74 5.89 6.19 6.29
Lender Flt 1yr 2yr 3yr
BNZ - Mortgage One 7.15 - - -
BNZ - Rapid Repay 6.74 - - -
BNZ - Std, FlyBuys 6.74 5.89 6.19 6.29
BNZ - TotalMoney 6.74 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.45 6.05 6.20 -
Credit Union North 6.45 - - -
Credit Union South 5.75 - - -
eMortgage 6.04 6.15 6.69 7.19
Finance Direct 6.10 6.45 6.69 7.10
First Credit Union 6.45 - - -
Lender Flt 1yr 2yr 3yr
General Finance 5.95 6.25 6.50 7.10
HBS Bank 6.65 5.69 5.74 5.99
HBS Special - 5.59 5.49 5.69
Heartland 6.70 7.00 7.25 7.85
Heretaunga Building Society 6.70 6.00 6.30 -
Housing NZ Corp 6.74 ▼5.70 ▼6.09 ▼6.29
HSBC Premier 6.84 ▼5.45 ▼5.65 5.99
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 6.75 5.99 6.39 -
Kiwibank 6.65 5.69 6.19 6.55
Lender Flt 1yr 2yr 3yr
Kiwibank - Capped 5.65 6.50 - -
Kiwibank - Offset 6.55 - - -
Kiwibank LVR > 80% - - 5.75 5.89
Liberty - - - -
Napier Building Society 5.80 6.00 6.70 -
Nelson Building Society 6.95 6.15 6.60 -
NZ Home Loans 6.85 6.09 6.40 6.65
Perpetual Trust 7.70 - - -
Resimac 6.59 6.10 6.28 6.43
SBS Bank 6.65 5.69 5.74 5.99
SBS Bank Special - 5.59 5.49 5.69
Lender Flt 1yr 2yr 3yr
Silver Fern 5.95 6.10 6.55 7.05
Sovereign 6.85 5.99 6.19 6.39
Sovereign Special - 5.59 5.75 5.85
The Co-operative Bank 6.70 5.69 5.75 5.99
TSB Bank 6.74 5.95 6.19 6.30
TSB Special - - 5.79 -
Wairarapa Building Society 6.20 5.75 5.95 -
Westpac 6.59 6.09 6.39 6.65
Westpac - Capped rates - 6.74 6.99 -
Westpac - Offset 6.59 - - -
Westpac Special - - - 5.99
Median 6.70 5.97 6.19 6.29

Last updated: 15 December 2014 11:07am

News Quiz

A well-commented on story last week mooted that many authorised financial advisers are out of their depths discussing what with their clients?

bonds

death

divorce

piles

birth control

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by PHP Developer and eyelovedesign.com