About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Tuesday, September 17th, 8:32PM
rss
Latest Headlines

[The Wrap] Regulation is a time for advisers to be bold and reinvent themselves

We all know change is coming for financial advisers, and maybe they should use this opportunity to reinvent themselves to be bigger, bolder and more successful than before.

Monday, September 2nd 2019, 8:00PM 1 Comment

by Philip Macalister

I’m fortunate to be in Sydney this week for the first ever MDRT Global Conference. There’s something like 8,000 advisers from around the world at the event.

A couple of key takeouts in the first 24 hours.

Although the event is in Sydney the Opening Ceremony entertainment was, believe it or not, Maori themed complete with a few delegates taking the stage to have a crack at doing the haka!

While it’s an international financial adviser conference, with a strong contingent of advisers from Asia, there are really good take out points for New Zealand advisers.

A great example is opening speaker Jade Simmons. Simmons is an African-American woman who started off wanting to be a classical pianist, but soon discovered it was a very competitive and crowded market.

She charted a new course and is considered a maverick mixing beats and wrap music with classical piano. Yes it sounds strange, but to see and hear her tell and play her story on stage is inspiring.

Her message to advisers was that you are all in a competitive and crowded market and you need to make yourself stand out. New Zealand advisers are facing change and disruption from lawmakers and regulators.

As she said about her transformation she "had a reason to evolve into the next version of myself."

Regulation in New Zealand is your reason to transform yourself into something "bolder, bigger and better" in the future.

A theme which resonates through an event like this is the important role advisers play in society. 

"People listen to you; you guide them."

It reminds me of a conversation I had the other day where an Auckland adviser came down to Rotorua to help the widow of a man killed while mountain biking in the forest. His message was advisers, especially insurance advisers, need to do a much better job at telling people about the good work they do and the families they help in their times of need and grief.

As Simmonds said: "I don’ think of you as financial advisers."

"You are legacy lifters."

Amongst her points are two which New Zealand advisers entering into the new regime should embrace:

"Boldly accept the invitation to reinvent".

"Pick a date and commit to finding a solution." Picking the date is not so important as that has already been done for advisers, but finding a solution is something which everyone should be working on.

Tags: MDRT Opinion

« [The Wrap] The word on good customer outcomes from the topKloogh no longer a financial adviser »

Special Offers

Comments from our readers

On 3 September 2019 at 6:56 am Katrina Church said:
Jade Simmons was amazing. It is so uplifting to be around so many optimistic advisers. Screeds of ideas to take back NZ. Kiwis on tour and representing with so much passion. Ross Collett our flagbearer. Today our very own Emily Tsai on Main Platform.So proud.

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.15 4.09 4.49
ANZ Special - 3.65 3.59 3.99
ASB Bank 5.20 4.15 4.09 4.39
ASB Bank Special - 3.65 3.59 3.89
BNZ - Classic - 3.65 ▼3.54 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
Housing NZ Corp 5.19 ▼4.15 ▼4.09 ▼4.39
HSBC Premier 5.24 3.35 3.35 3.35
Lender Flt 1yr 2yr 3yr
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.65 3.85 3.95 3.89
Kiwibank 5.80 4.30 4.34 4.74
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - 3.55 3.59 3.99
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.69 4.79 -
Resimac 5.30 4.86 4.14 4.19
Lender Flt 1yr 2yr 3yr
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.69 3.69 3.99
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
The Co-operative Bank - Owner Occ 5.15 3.65 3.59 3.99
The Co-operative Bank - Standard 5.15 4.15 4.09 4.49
TSB Bank 6.09 4.65 4.59 4.85
TSB Special 5.29 3.85 3.79 4.05
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.34 - - -
Westpac Special - 3.65 3.59 3.99
Median 5.35 4.15 4.09 4.19

Last updated: 16 September 2019 10:03am

News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

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