Summit to examine financial advice policy, regulation, and professional standards
Financial Advice New Zealand is launching an Advice Policy Summit in conjunction with the Financial Planning Standards Board Asia Pacific Forum.
Thursday, June 4th 2026, 9:28AM 
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It will bring together CEOs and leaders from 14 APAC territories; New Zealand, Japan, China, Korea, Taiwan, Hong Kong, Singapore, Malaysia, Thailand, Indonesia, India, Australia, South Africa, and the United States alongside our CEO Advice Forum.
The summit will examine global financial advice standards and stress test the policy and regulatory settings shaping our profession in New Zealand.
Financial Advice New Zealand Chief Executive, Nick Hakes says “The data is unequivocal. Only 28% of New Zealanders accessed financial advice last year, despite 63% thinking about their finances at least weekly. If we are serious about closing the advice gap, it will require a unified and consistent response from the profession."
"Our collective opportunity is how we use the flexibility in our regulatory framework to better reach and serve the New Zealand public so more Kiwis can access the quality financial advice we know they need.”
There is real value in learning from other markets by understanding what worked, what did not, and how to avoid the unintended consequences of getting the policy and regulatory settings wrong. There is also an extraordinary opportunity to improve public awareness of the transformative value of quality financial advice.
Our regulatory framework gives us flexibility. The Financial Advice Code enables us to apply professional judgement. The opportunity is how this flexibility is used to better reach and serve the New Zealand public.
Details can be found in the Good Returns Diary Here
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I’m a little over hearing constantly, about how many people don’t seek financial advice in NZ.
I have maintained for a very long time that NZ is a very expensive place to live.
Between 2010 and 2022 NZ had one of the biggest increases in housing costs according to the OECD Affordable Housing reports – around 75% while mean disposable incomes only increased 48%.
As the Retirement Commission has stated, a significant number of enrolled KiwiSaver members are not contributing. These two alone point to financial strain.
I have friends overseas (primarily U.S. and Australia), we do non scientific comparisons on costs of goods and services, based on incomes in our respective lands. There is no denying stuff generally costs a lot more here, particularly the basics.
I think the reality is, a lot of people in Godzone, are simply trying to survive financially, trying to make ends meet, let alone thinking about seeking out, and paying for, financial advice. As advisers, our views will be skewed on this as we tend to deal with those who can afford it, those at the higher end of the food chain, so to speak.