Customer desire for RI info is an opportunity
An RIAA report From Values to Riches 2022, which looked at consumer demand for ethical investing in Aotearoa New Zealand, found that while public awareness of responsible investment (RI) had risen 13% compared to two years ago, most feel they lack independent advice. The report found that 73% of Kiwis expect their money to be invested responsibly, with 80% of women having responsible investment (RI) as a baseline investment issue, and younger generations being more enthusiastic than older age groups.
Presenting to advisers at a Booster Financial Services conference, Dean Hegarty, RIAA executive manager of membership and engagement said while most customers have implicit expectations around RI they don’t overtly state them which is a risk as the majority of people (56%) said they would consider moving their money if they found out their current fund invested in companies that engage in activities inconsistent with their values.
“Kiwis are relatively sceptical of claims made by financial groups such as banks and so turn to advisers as “bringers of trust” and objective information."
“There’s a significant knowledge gap between what investors need to understand about RI and what they know.”
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