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OnePath says its committed to advisers

OnePath remains 100% committed to the adviser market and believes the coming year will see significant opportunities for investment, KiwiSaver, insurance and private banking.

Wednesday, February 16th 2011, 7:28AM 1 Comment

by Benn Bathgate

Speaking at the OnePath Auckland road show head of adviser Trish Edmonds said, "we are absolutely committed to advisory."

She said that 2010 has been "all about regulation, a huge distraction for all of us" but that there were many reasons for optimism for 2011, especially within the KiwiSaver space, "the juggernaut that is dominating our market at the moment."

She also said OnePath would play a leading role in helping build consumer confidence and said the company planned to expand its Helping Hands adviser programme, use focus groups to determine the needs of the adviser market and "work a lot closer with the life business."

Edmonds said the Helping Hands programme, a menu of support services to help advisers, was part of their strategy to engage with advisers and lead when it comes to best-practice regulatory compliance.

She told the advisers OnePath was "going to help you flourish in this new regulatory environment."

She also outlined two areas where she believes advisers can make significant headway in 2011; helping develop new products to cater for the retirement market, and engaging with the children of what she labeled their ‘A' clients.

These are two groups she said "need good quality advice."

John Body, the OnePath managing director, Wealth, also emphasised the company's commitment to the adviser market.

He said in the wake of the ANZ takeover they "know you can't become bank selling people" and that working hand in hand, success for advisers would result in success for OnePath.

He said the company intended to take a more prominent role in shaping the industry through lobbying on issues such as the Savings Working Group and the next Budget, which Finance Minister Bill English has already said would focus on ways to boost savings and investment in New Zealand.

Body said Kiwi's changing attitude to finance in the wake of the Global Financial Crisis was aligned with thinking from Government and regulators.

He said synergies exist between OnePath and advisers, with both well positioned to benefit from what he said was "a wave of unprecedented change in New Zealand savings."

OnePath's Wealth Distribution general manager Jeremy Nicoll said that while the ANZ takeover had resulted in "quite significant changes" at OnePath, the company would not be run like a bank.

He said the aspiration is to grow the business from its position of strength in fund management and KiwiSaver into an iconic brand and reliable partner for the adviser market.

"We're going to take the business to the next level," he said.  

Benn Bathgate is a business reporter for ASSET and Good Returns, email story ideas to benn@goodreturns.co.nz

« Fidelity keenly interested in GPG's 35% Tower stakeKiwiSaver mismatch a 'huge challenge' for advisers »

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Comments from our readers

On 22 February 2011 at 4:55 pm Majella said:
Committed to advisers, huh? Yet the complaint aired on Sainsbury's show a few days ago told the story of a young couple who had, as far as I could tell, purchased a mortgage protection policy over the phone form ING Life/Onepath. Hmmm...best advice?
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ANZ Special - 3.55 3.55 3.99
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TSB Special 5.29 3.39 3.55 3.89
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