Picture: Award winner Rodger Spiller of Money Matters.
Retirement Commissioner Colin Blair says a strong financial planning industry is important in New Zealand because of the make up of the market.
He says that in most developed countries there are savings incentives, widespread access to subsidised employer schemes or compulsory savings schemes. These set ups tend to lead the average saver into particular savings vehicles because they are seen as authorised or approved. Additionally savers tend to accept these as the right place to put their money because parents and peers are using them.
"With our level playing field in New Zealand there are no signposts which point the average saver in a particular dirction. So here they are in foreign territory unable to understand the language and with no map to guide them," he told guests at the Financial Planner of the Year Awards ceremony in Auckland on Wednesday.
What's more while they are out there searching for their route to financial nirvana they are being hounded by strong messages of the need to save.
"It is no wonder that our research shows that many people are seeking guidance and help," he says. "It is no wonder that our research shows that many people are seeking guidance and help," Blair says.
To see and hear Rodger on TV One's Telstra Business programme, CLICK HERE (This requires Real Player).
| « Rodger Spiller named Financial Planner of the Year | Get your tax questions answered online » |
Special Offers
© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved