tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Thursday, March 28th, 10:13PM

News

rss
Latest Headlines

Big opportunity for advisers: Mercer

A changing employment environment may provide new business opportunities for financial advisers.

Monday, February 19th 2018, 6:00AM 2 Comments

by Susan Edmunds

Wealth and employment consultancy firm Mercer has released new research that investigates how organisations can distinguish themselves as technologies, including AI and robotics, disrupt industries and redefine value chains.

Martin Lewington, managing director of Mercer in New Zealand, said there was a huge opportunity for financial advice businesses.

Employers were dealing with new challenges, he said, as more countries returned to full employment and it was harder to find and keep the right people.

"They want to be an employer of choice, they want to be a great place for people to work."

Data showed that employees spent an average 13 hours a month worrying about money and the future of their savings, he said. "Just imagine if the employer was in a position to provide financial advice to employees... that's where advisers could play a role and build a relationship to provide that. There's immediate scale."

He said workplace schemes often missed out on tailored advice. "It's quite easy to do one-to-many but it doesn't cut the mustard today. It's got to be tailored."

Financial advisers using digital tools and the data available to the employer could offer quite specific services to employees, he said. "They could tap into a lot of raw data and have a nuanced conversation enabling these employees to get a better outcome. That's a real opposition for them to reposition where they are."

Good relationships with employers could also help financial advisers build more sustainable business models and achieve the size required to take on more staff. That would help some with their succession concerns, he said.

New Zealand's workforce was ageing, which Lewington said increased the need for financial advice in many cases as they looked for help to transition out of the full-time workforce.

"We talk about disruption but I see it as really exciting with real potential to genuinely enhance people's lives.

“In an era of disruption, it is more important than ever before for companies to take a leading role in caring for the health, wealth and careers of their workforce in order to thrive."

Tags: financial advisers Mercer recruitment

« Lifetime, Camelot may join forcesMann on a mission to diversify financial advice »

Special Offers

Comments from our readers

On 19 February 2018 at 5:53 pm gavin austin adviser business compliance said:
Very interesting article. I'd be interested to know where the data came from that shows on "average people spend 13 hrs a month worrying".

Just sounds a bit high for me. Maybe Robo advice may not be the best answer either and we all know that KiwiSaver advice is not available enough to the average person.
On 22 February 2018 at 7:24 pm traveller said:
I think the average New Zealander spends more time planning their next holiday than their retirement

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Weekly Wrap

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA - Back My Build 6.19 - - -
AIA - Go Home Loans 8.74 7.24 6.79 6.65
ANZ 8.64 7.84 7.39 7.25
ANZ Blueprint to Build 7.39 - - -
ANZ Good Energy - - - 1.00
ANZ Special - 7.24 6.79 6.65
ASB Bank 8.64 7.24 6.79 6.65
ASB Better Homes Top Up - - - 1.00
Avanti Finance 9.15 - - -
Basecorp Finance 9.60 - - -
Bluestone 9.24 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Classic - 7.24 6.79 6.65
BNZ - Green Home Loan top-ups - - - 1.00
BNZ - Mortgage One 8.69 - - -
BNZ - Rapid Repay 8.69 - - -
BNZ - Std, FlyBuys 8.69 7.84 7.39 7.25
BNZ - TotalMoney 8.69 - - -
CFML Loans 9.45 - - -
China Construction Bank - 7.09 6.75 6.49
China Construction Bank Special - - - -
Co-operative Bank - First Home Special - 7.04 - -
Co-operative Bank - Owner Occ 8.40 7.24 6.79 6.65
Lender Flt 1yr 2yr 3yr
Co-operative Bank - Standard 8.40 7.74 7.29 7.15
Credit Union Auckland 7.70 - - -
First Credit Union Special - 7.45 7.35 -
First Credit Union Standard 8.50 7.99 7.85 -
Heartland Bank - Online 7.99 6.69 6.45 6.19
Heartland Bank - Reverse Mortgage - - - -
Heretaunga Building Society 8.90 7.60 7.40 -
HSBC Premier 8.59 - - -
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 7.85 7.05 6.75 6.59
Lender Flt 1yr 2yr 3yr
Kainga Ora 8.64 7.79 7.39 7.25
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 8.50 8.25 7.79 7.55
Kiwibank - Offset 8.50 - - -
Kiwibank Special - 7.25 6.79 6.65
Liberty 8.59 8.69 8.79 8.94
Nelson Building Society 9.00 7.75 7.35 -
Pepper Money Advantage 10.49 - - -
Pepper Money Easy 8.69 - - -
Pepper Money Essential 8.29 - - -
Resimac - LVR < 80% 8.84 ▼8.09 ▼7.59 ▼7.29
Lender Flt 1yr 2yr 3yr
Resimac - LVR < 90% 9.84 ▼9.09 ▼8.59 ▼8.29
Resimac - Specialist Clear (Alt Doc) - - 8.99 -
Resimac - Specialist Clear (Full Doc) - - 9.49 -
SBS Bank 8.74 7.84 7.45 7.25
SBS Bank Special - 7.24 6.85 6.65
SBS Construction lending for FHB - - - -
SBS FirstHome Combo 6.19 6.74 - -
SBS FirstHome Combo - - - -
SBS Unwind reverse equity 9.95 - - -
Select Home Loans 9.24 - - -
TSB Bank 9.44 8.04 7.55 7.45
Lender Flt 1yr 2yr 3yr
TSB Special 8.64 7.24 6.75 6.65
Unity 8.64 6.99 6.79 -
Unity First Home Buyer special - - 6.45 -
Wairarapa Building Society 8.60 6.95 6.85 -
Westpac 8.64 7.89 7.49 7.25
Westpac Choices Everyday 8.74 - - -
Westpac Offset 8.64 - - -
Westpac Special - 7.29 6.89 6.65
Median 8.64 7.29 7.32 6.65

Last updated: 28 March 2024 9:42am

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