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

 

Free Financial Advice As Kiwis Take Greater Interest In Finances

The Financial Markets Authority (FMA) has partnered with Financial Advice New Zealand to make free and generic financial advice available in Hamilton, as New Zealanders take a greater interest in their finances and investments due to the impact of COVID-19.

The FMA and Financial Advice New Zealand are hosting a pop-up centre offering free money advice at Hamilton’s The Base mall on Saturday, 15 August, 9am – 6pm as part of Sorted Money Week 2020.

The pop-up will be staffed by financial advisers who will provide generic financial advice to members of the public. Topics could range from how to start investing and pay less interest on a mortgage, through to understanding personal insurance and choosing the right KiwiSaver fund.

The theme of Money Week this year is ‘just wondering’; reflecting the many money questions New Zealanders have during this time of uncertainty. Nearly half of New Zealanders (45%) are concerned about the impact of COVID-19 on their personal finance situation, according to the FMA’s Investor Confidence Survey, released last month.

Gillian Boyes, FMA Manager – Investor Capability, said the FMA was keen to promote the value of financial advice, particularly due to the COVID-19 crisis.

“Whether it’s a full financial plan, help with KiwiSaver or other investments, budgeting support or using online tools, sound advice can be hugely beneficial in times of economic and financial uncertainty,” she said.

“If you’re making important financial decisions, speaking to a financial adviser can be a great way to help navigate your financial path. We wanted to facilitate these free sessions to introduce people to financial advice, or give them a taste of what it can offer.

“Getting value from financial advice doesn’t just include seeing a financial adviser – it could be accessing the wealth of information online or at your local Citizens Advice Bureau or library, using online calculators and tools, talking to the folk at MoneyTalks, listening to podcasts or reading personal finance books.”

Katrina Shanks, Financial Advice New Zealand CEO, said many New Zealanders have not spoken with a financial adviser so the event will provide Waikato residents a unique opportunity.

“The impact of COVID-19 has highlighted the need for financial resilience, such as building up an emergency fund, understanding personal insurance, and making sure your KiwiSaver is set up right to work for you. A financial adviser can help you navigate all of these things and more.”

Financial advice findings from FMA Investor Confidence Survey:

  • 11% of investors have been working with a financial adviser to review their investments.
  • 12% of investors are looking for an adviser to review their investments.
  • Those looking for an adviser to help review their investments are significantly more likely to be male, investors across multiple products, and Asian.

Event details

What: Get your money questions answered free for Sorted Money Week

Where: The Base shopping centre, Te Rapa, Hamilton (by Cotton On Kids)

When: 9AM – 6PM, Saturday 15 August 2020

Who: Financial advisers

Financial Advice New Zealand

Financial Markets Authority

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Auckland Transport: Successful Bridge Repair Opens Two Additional Lanes To Traffic

The opening of two additional lanes on the Auckland Harbour Bridge this morning will help relieve some motorway congestion for motorists heading home to the North Shore tonight. More>>

ALSO:

Statistics New Zealand: COVID-19 Sees Record 12.2 Percent Fall In New Zealand’s Economy

Gross domestic product (GDP) fell by 12.2 percent in the June 2020 quarter, the largest quarterly fall recorded since the current series began in 1987, as the COVID-19 restrictions in place through the quarter impacted economic activity, Stats NZ said ... More>>

ALSO:

Climate: Scientists Release ‘Blueprint’ To Save Critical Ecosystems And Stabilize The Earth’s Climate

A group of scientists and experts produced the first comprehensive global-scale analysis of terrestrial areas essential for biodiversity and climate resilience, totaling 50.4% of the Earth's land. The report was published in Science Advances ... More>>

ALSO:

MPI: Independent Review Launched Into Assurances For Safe Transport Of Livestock By Sea

The Ministry for Primary Industries (MPI) has launched an independent review of the assurances it receives for the safe transport of livestock by sea. MPI Director-General Ray Smith says Mike Heron QC has been appointed to lead the review, which is expected ... More>>

ALSO:


Computers: New Zealand PC Market Grows Nearly 40% Due To Work From Home Demand

COVID-19 had large impacts on demand for PCs as businesses prepared for lockdowns by purchasing notebooks to mobilise their workforce. In the second quarter of 2020, New Zealand's Traditional PC market experienced a 39.7% year-on-year (YoY) growth ... More>>

ALSO:


University Of Auckland: Whale-Watching By Satellite – Follow Their Travels Online

Scientists have successfully attached satellite tracking tags to six New Zealand southern right whales, or tohorā, and are inviting the public to follow the whales’ travels online. Part of a major research project involving the University of Auckland ... More>>

Commerce Commission: Kiwibank Admits System Failures And Agrees To Pay Customers $5.2 Million

Kiwibank has entered into a settlement agreement with the Commerce Commission after reporting that it failed to have in place robust home loan variation disclosure policies, procedures and systems. In a settlement dated 27 August 2020, Kiwibank admitted that ... More>>

Ministry of Health: Public Transport Distancing Requirements Relaxed

Physical distancing requirements on public transport have been reviewed by the Ministry of Health to determine whether they are still required at Alert Level 2 (or below). The Ministry’s assessment is that mandatory face covering and individuals tracking ... More>>

ALSO:

NZHIA: New Zealand Hemp Industry Set To Generate $2 Billion Per Annum And Create 20,000 Jobs

A new report says a fully enabled hemp industry could generate $2 billion in income for New Zealand by 2030, while also creating thousands of new jobs. Written by industry strategist Dr Nick Marsh, the report has prompted calls from the New Zealand Hemp ... More>>

ALSO:

Stats NZ: One In 14 Employed People Report High Risk Of Losing Jobs

About one in 14 workers say they expect to lose their job or business by mid-2021, Stats NZ said today. A survey of employed people in the June 2020 quarter showed 7 percent felt there was a high or almost certain chance of losing their job or business ... More>>

ASB Quarterly Economic Forecast: NZ Economy Doing Better Than Expected, But Challenges Remain

August lockdown estimated to have shaved 8% off NZ’s weekly GDP, and 0.5% off annual GDP Economy now expected to shrink 5% (year-on-year) by end of 2020 Unemployment rate now expected to peak at 7.2% The latest ASB Quarterly Economic Forecast is less ... More>>

ALSO: