The research found that many New Zealanders value financial advice but see it as costly, complex, or not relevant to them, particularly for simpler needs. There is strong demand for more accessible, easy-to-understand options, with digital channels playing an important role alongside human advice.
The review also found that financial advisers are committed to good outcomes but face commercial and regulatory constraints that can limit who they can serve. There is increasing interest in scalable and innovative models, including digital and hybrid approaches, though implementation remains a challenge.
Hosted by Nick Hakes, CEO of Financial Advice NZ, Romil Ghelani and Ross Skilton from the FMA, will step through the key insights from the review. They will discuss how the findings relate to advice models, client needs, and they will pose questions intended to explore how the financial advice profession can keep evolving to address the accessibility to advice challenges to better meet the needs of New Zealanders.
What you’ll learn:
- How regulators and industry can play their roles in closing advice gaps
- How advice business models can evolve to improve accessibility without compromising quality
- Why digital and hybrid advice models present a significant opportunity
The FMA will also share quantitative insights and highlight areas for innovation.
Romil Ghelani - Head of Financial Advice, FMA
Romil has been with the FMA for seven years, focusing on overseeing the implementation of FSLAA and ongoing monitoring of Financial Advice regulations in New Zealand. He has over a decade of experience across compliance, regulation, risk management and financial services both in Canada and New Zealand, originally from Ottawa, Ontario, Canada and is a Chartered Professional Accountant. Romil was significantly involved in the Banking and Life insurance Conduct and Culture Reviews, and FMA Bank incentive structures thematic and led the development of the FAP monitoring insights report and FAP Regulatory Returns.
Ross Skilton - Senior Adviser, Financial Advice, FMA
Ross has been with the FMA for four years, with his predominant focus being the supervision and oversight of licensed Financial Advice Providers. Ross works within Romils team, performing part of the FMAs core supervisory function, which includes onsite monitoring, market engagement and assessment and analysis of FAP and adviser conduct. Ross has 9 years of experience in the financial sector, leveraging his previous experience in audit & assurance and is also a Chartered Accountant.
Host: Nick Hakes - CEO, Financial Advice New Zealand
CPD: 1 hours
Member: Complimentary | Non-member: $50 (+GST)
A separate Zoom Registration Link will be emailed to registrants