Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Survey presents big ‘trust’ challenge to finance

Media release 22 September 2009

Survey presents big ‘trust’ challenge to financial services sector

Retirement Commissioner Diana Crossan says the RaboPlus Financial Confidence Index released today is another wakeup call for the financial services sector to regain the public’s trust.

The inaugural index shows that public confidence in the sector has been severely dented by the global financial crisis and the recession.

“New Zealanders must be able to trust the financial services sector so they can confidently save for their retirement. More than 60 per cent of New Zealanders are less confident investing in the sector than six months ago.

“The industry has got a considerable challenge ahead to prove to New Zealanders that it can be trusted. This survey is a good start as it gives us a benchmark for tracking how well the sector is meeting that challenge,” said Diana Crossan.

The survey is no surprise to Diana Crossan who says that many New Zealanders who contact her say they don’t know who to trust with their money.

“High profile investment failures have raised questions in New Zealanders’ minds about the quality of advice they are getting from financial advisors and how trustworthy it is. We are seeing that reflected in this survey.”

Diana Crossan says one of the challenges facing the sector is the need to communicate clearly. “New Zealanders need clear and concise information so they can make well informed decisions about their investment dollars.”

The Retirement Commission will continue to work closely with the sector to raise the bar on the quality of products, service, information and advice.

The Retirement Commission provides free, independent information to help New Zealanders of all ages understand money matters and manage their personal finances throughout life. Almost one third of all New Zealanders have used the Retirement Commission’s website and related resources.


© Scoop Media

Business Headlines | Sci-Tech Headlines


CTU 2021 Work Life Survey: COVID And Bullying Hit Workplaces Hard, Huge Support For Increased Sick Leave

New data from the CTU’s annual work life survey shows a snapshot of working people’s experiences and outlook heading out of 2020 and into the new year. Concerningly 42% of respondents cite workplace bullying as an issue in their workplace - a number ... More>>

Smelter: Tiwai Deal Gives Time For Managed Transition

Today’s deal between Meridian and Rio Tinto for the Tiwai smelter to remain open another four years provides time for a managed transition for Southland. “The deal provides welcome certainty to the Southland community by protecting jobs and incomes as the region plans for the future. The Government is committed to working on a managed transition with the local community,” Grant Robertson said. More>>


Economy: Strong Job Ad Performance In Quarter Four

SEEK Quarterly Employment Report data shows a positive q/q performance with a 19% national growth in jobs advertised during Q4 2020, which includes October, November and December. Comparing quarter 4, 2020, with the same quarter in 2019 shows that job ad volumes are 7% lower...More>>

NIWA: 2020 - NZ’s 7th-warmest Year On Record

The nationwide average temperature for 2020, calculated using stations in NIWA’s seven-station temperature series which began in 1909, was 13.24°C (0.63°C above the 1981–2010 annual average). New Zealand’s hottest year on record remains 2016, when... More>>

Quotable Value New Zealand: Property Market Set To Cool From Sizzling To Warm In 2021

Nostradamus himself could not have predicted the strange series of events that befell our world in 2020 – nor the wild trajectory of New Zealand’s property market, which has gone from “doom and gloom” to “boom and Zoom” in record time. Even ... More>>

PriceSpy: Research Reveals How Shopping Behaviours Have Changed This Christmas

According to a new survey* from PriceSpy , almost 50 per cent of Kiwis are looking to shop locally this Christmas in light of Covid-19; The research also found consumers are changing their shopping habits, with one in seven (14 per cent) getting super-organised ... More>>