Fidelity Life announce several key appointments

Fidelity Life have announced a range of changes to their team.

Craig Wagstaff appointed Head of Individual Life

Craig starts the role 9 June, and he will report directly to Bronwyn Kirwan, Chief Commercial Officer. Craig brings extensive expertise in life insurance, adviser relationships and bancassurance partnerships and most recently was Group General Manager Franchise, Brand and Marketing at NZHL. Craig will lead all aspects of Fidelity Life’s distribution strategy and channel performance for advisers, strategic alliances, bancassurance, and digital partners - areas of significant investment as Fidelity Life continues its growth journey.

Simon Millward takes on newly created role of National Partnerships Manager – Corporate and Growth

Simon will manage a portfolio of intermediary partnerships at regional and national levels while driving growth through new relationships.  Simon was formerly Fidelity Life’s Head of Service Excellence, overseeing adviser onboarding, customer value and retention, customer advocacy and complaint resolution, and quality assurance.

Rhys Knight takes on the new role of Group Business Manager (contract)

Rhys was previously at Suncorp New Zealand and his new role will enable Fidelity Life to provide greater support to Group advisers and offer more protection to employees across New Zealand. 

Sam Paterson takes on the role of Canterbury & Marlborough region Business Manager

Sam starts mid-April and was previously Area Manager for the Canterbury region at Farmers Mutual Group (FMG).

Peter Warfield & Kirsty Michell promoted to Senior Business Managers

Peter Warfield has been promoted to Senior Business Manager – North while Kirsty Michell has been promoted to Senior Business Manager – South.

Title changes for Michelle O’Connell and Gary Binnie

Following Peter and Kirsty’s promotions, Fidelity Life’s two current Senior Business Managers have had title changes. Michelle O’Connell has a title change to Regional Manager – North while Gary Binnie has a title change to Regional Manager - South.

Kenny Kaushish leaves Fidelity Life

Kenny Kaushish leaves Fidelity Life on 30 June, to transition into new role as a financial adviser. A search for a new Auckland Business Manager has commenced.  

More news:

FSC Professional Advice Special Interest Group Networking Event 7 May

Seven new FANZ members have achieved certified financial planner designation

AIA launch AIA NZ Quarterly, a quarterly LinkedIn newsletter

Minimum industry entry requirements are not enough to qualify an adviser to give advice in some specialised areas

Wealthpoint is looking for a Head of Investments

Bell Gully discuss key changes and implications of new bills that will effect NZ's financial services

The Commerce Commission has stepped back its three completed lender offers proposal it wants mortgage advisers to adhere to

The IRD delivers a definitive statement of how it views GST in relation to funds management

Legal and regulatory update for the life and health insurance sector

1 Apr 2025 - The RBNZ Board is in the process of preparing a recommendation for the appointment of a Governor for six months and will be sending it to the Minister soon. https://www.rbnz.govt.nz/hub/news/2025/04/process-for-the-appointment-of-a-governor-for-a-six-month-term

2 Apr 2025 - FMA announce a review of the advice sector to help drive better outcomes for industry and consumers. It will focus on four key themes, which are:

1. Consumer preferences and demographics

2. Industry business models

3. Digital advice and innovation

4. Ease of provision of financial advice

https://www.fma.govt.nz/news/all-releases/media-releases/fma-unveils-review-into-financial-advice-accessibility/

2 Apr 2025 - The FMA release a Regulatory Returns snapshot for 1 July 2023 – 30 June 2024. Key statistics (as of 30 June 2024)

• 1410 licensed financial advice providers submitted regulatory returns

• 8472 financial advisers compared to 9300 in 2021

• Life and health insurance are the most common financial products advice is provided on

• 36 FAPs are providing digital advice and 86,500 retail clients received digital advice

• 97% of complaints received were settled within 3 months.

https://www.fma.govt.nz/library/reports-and-papers/financial-advice-providers-industry-snapshot/

2 Apr 2025 - The FMA publish Samantha Barrass' speech from the Financial Advice New Zealand Conference. https://www.fma.govt.nz/library/speeches-and-presentations/financial-advice-new-zealand-conference/

2 Apr 2025 - The FMA release Jess Learns to Invest Episode 3 | Understanding Managed Funds with Tom Hartmann. https://www.fma.govt.nz/library/podcast/jess-learns-to-invest-episode-3/

3 Apr 2025 - APRA has accepted a Court Enforceable Undertaking from Australia and New Zealand Banking Group (ANZ) to address ongoing weaknesses in the bank’s non-financial risk management practices and risk culture. https://www.apra.gov.au/news-and-publications/apra-accepts-court-enforceable-undertaking-from-anz-and-increases-capital-add

4 Apr 2025 - Minister of Commerce and Consumer Affairs, Hon Scott Simpson, March 2025 diary released with the following potential financial services sector related meeting noted:

• 6 Mar 2025 – MEET: Commerce Commission Chair and CE (Dr John Small, Adrienne Meikle)

• 10 Mar 2025 – MEET: NZ Banking Association CE (Roger Beaumont)

• 10 Mar 2025 – MEET: FMA Chair and Acting CE (Craig Stobo and Liam Mason)

• 10 Mar 2025 – MEET: Financial Services Stakeholders (Carl Blanchard & invited guests)

• 10 Mar 2025 - SPEAK: Financial Services Forum

• 11 Mar 2025 – SPEAK: Fintech Hui

• 13 Mar 2025 – MEET: Financial Ombudsman Reviewer (Nanette Moreau)

• 18 Mar 2025 -MEET: Financial Services Council CE (Kirk Hope)

• 18 Mar 2025 – MEET: ASB CEO (Vittoria Short, Louise Griffin)

• 19 Mar 2025 – MEET: FAMNZ (Leigh Hodgetts)

• 24 Mar 2025 – MEET: NZBA (Roger Beaumont and Dan Huggins)

• 25 Mar 2025 -MEET: CE of Westpac (Catherine McGrath)

• 26 Mar 2025 – MEET: Banking Ombudsman CE and Chair (Nicola Sladden and Miriam Dean)

• 26 Mar 2025 – MEET: Retirement Commissioner (Jane Wrightson)

• 27 Mar 2025 – MEET: FINCAP (Jake Lilley, Fleur Howard)

• 27 Mar 2025 – MEET: Financial Service Federation (Katie Rawlinson)

• 28 Mar 2025 – ATTEND: NZ Banking Assoc Council

• 31 Mar 2025 - MEET: Suncorp CEO (Jimmy Higgins)

https://www.beehive.govt.nz/sites/default/files/2025-04/Proactive%20Diary%20Release%20Simpson%20Mar%2025%27%20.pdf

4 Apr 2025 - The Council of Financial Regulators (CoFR) held its quarterly meeting on Monday 24 March 2025. The Council discussed the key external factors that could impact the financial system, noting in particular the rapid developments in artificial intelligence and ongoing geopolitical uncertainty. The Council reviewed developments in New Zealand’s payments system and noted the importance of upcoming developments like the passage of the Customer and Products Data Bill. https://www.cofr.govt.nz/news-and-publications/quarterly-statement-by-cofr-march-2025.html

4 Apr 2025 - The FMA have published their fair conduct programme insights report. https://www.fma.govt.nz/library/reports-and-papers/fair-conduct-programme-insights-report/

7 Apr 2025 - The RBNZ is welcoming applications to the Exchange Settlement Account System (ESAS) under new access criteria announced on 31 March 2025. https://www.rbnz.govt.nz/hub/news/2025/04/rbnz-welcomes-new-applications-to-the-exchange-settlement-account-system

AI becoming more trusted by executives

SAP investigated how US executives were using AI in their organisations and their trust in the technology. They found that AI has become embedded in work practices (with 63% of executives using generative AI daily) and is changing how people do business.

Decisions are being made based on AI insights, with 44% of C-suite executives saying they would override a decision they had already planned to make based on AI insights and another 38% trusting AI to make business decisions on their behalf. 74% of executives had more confidence in AI advice over advice from family and friends. And a massive 55% of executives say in their company AI-driven insights have replaced or bypassed traditional decision-making.

Some common tasks carried out by generative AI tools include:

• Analysing data and making recommendations for decision-making (52%)

• Spotting risk or issues they hadn't previously considered (48%)

• Offering alternate plans (47%)

• Enhancing product development (40%)

• Supporting budget planning (40%)

• Performing market research (40%)

SAP found that there were positive implications on employee wellbeing, with 39% of executives reporting better work-life balance, 38% reporting improved wellbeing and 31% reporting reduced stress.

More news:

SortMe Advisor Portal, a tool designed to enhance financial advisory services, launches

AIA launch new Guide to Medical Underwriting

28% of large organisations rank AI-generated cyber threats as a major risk

Outgoing Chief Ombudsman identifies significant concerns with Health NZ’s delays and administrative processes around OIA requests

Monsters in March off to a great start

We’ve kicked off our Monsters in March event series, holding the first session in Remuera on 18 March and the second session in Christchurch on 20 March. Thanks to the 150+ advisers that showed up to hear about personal insurance, business insurance or KiwiSaver advice. And thank you to all of our sponsors and speakers for making it happen.

Here’s a few photos from the events so far.

We’ll be holding a last on the North Shore in Auckland on 25 March – hope to see you there!

More news:

Fidelity Life will host a workshop at FANZ conference

mySolutions Member Benefits day is on 19 March

mySolutions webinar 'Artificial Intelligence: is it for you?' 26 March

Southern Cross Health Insurance appoint Russell Simpson Chief of Healthcare Partnerships

Registrations open for the Million Dollar Round Table’s Annual Meeting in Miami in June

Advisers originate about 70% of Kiwibank’s mortgages by volume

TAP are looking for a Senior .NET Core Developer

Lee-Ann du Toit appointed new Chief Actuary at Chubb Life

Chubb Life New Zealand has announced the appointment of Lee-Ann du Toit as its new Chief Actuary. She will be part of the senior leadership team and report directly to CEO Gail Costa. Du Toit has more than 25 years of experience in financial services and comes to Chubb Life from Deloitte New Zealand where she served as lead partner for Actuarial Service. Du Toit is also the president of the New Zealand Society of Actuaries.

Gail Costa said

“With our industry rapidly evolving, Lee-Ann’s extensive expertise in driving strategic business outcomes and fostering customer-centric solutions will be invaluable to Chubb Life NZ. The chief actuary plays an important role in supporting both our board and senior leadership team to make strategic business decisions, and we’re looking forward to having Lee-Ann’s voice and unique perspective at the decision-making table.”

More news:

Women in Insurance Summit 26 February in Auckland

Expressions of interest open for Partners Life's new adviser training course 24 - 26 February

Steve Wright shares his thoughts on CPD for giving life and health insurance advice

Massey Fin-Ed Centre Retirement Expenditure Guidelines released

Westpac launches several initiatives to improve accessibility

Thoughts from advisers

We reached out to some advisers and other experts in the industry for their thoughts and opinions on the job, advice they’d give to people looking to get into the financial services industry, what they’re looking forward to and steps people can take to set themselves on the best financial path at different stages.

Wilhelmina Eveleens, Financial Adviser – Risk at InsuranceBASE

What is the most rewarding part of your job?

Supporting clients to make better financial decisions.

If you could give one piece of advice to someone looking to get into the financial services industry, what would it be?

Align yourself with the best people in the industry (and sign up to QuoteMonster!). 

What is something you are looking forward to about the industry over the next 10 years?

Seeing the quality of advisers and advice improve.

What steps can people take to set themselves on the best financial path in their 20s, 30s, 40s, 50s, and 60s?

Save, save, save … and make sure your KiwiSaver is appropriately invested.

What’s the last book you read?

Stolen Focus - Johann Hari.

Thoughts from advisers - Jeremy Bernstein

We reached out to some advisers and other experts in the industry for their thoughts and opinions on the job, advice they’d give to people looking to get into the financial services industry, what they’re looking forward to and steps people can take to set themselves on the best financial path at different stages.

Thoughts from Jeremy Bernstein, Senior Adviser - Life & Health at Gallagher

What is the most rewarding part of your job?

I get huge satisfaction from writing insurance for people that are not otherwise insured, new policies for new clients, creating financially resilient families & businesses and growing the insurance market.

If you could give one piece of advice to someone looking to get into the financial services industry, what would it be?

Find ways to enjoy continuous learning. Over time, aim to understand every corner of detail of how these policies work - understand that attention to detail is absolutely vital in this industry.

What is something you are looking forward to about the industry over the next 10 years?

I look forward to the industry maturing into regulation and contributing to higher standards of ethics and professionalism. 

What steps can people take to set themselves on the best financial path in their 20s, 30s, 40s, 50s, and 60s?

20’s: Find a career they love and one where you are not simply renumerated by wages alone i.e. share in profits through professional partnership or business ownership or a role that offers bonuses if sales targets are achieved. Contribute to KiwiSaver with high growth asset allocation with low fee investments. If not already insured, apply for Private Medical Cover with Partners Life, apply for Loss of Earnings Income Protection with Level Premium until age 70 with Asteron Life.

30’s: Buy a home and review insurance to ensure Life Cover is sufficient.

40’s: Work hard to achieve career goals and find ways to enjoy continuous education. Stay healthy and try hard to keep relationships intact i.e. divorce is a massive financial setback.

50’s: Apply for higher professional roles and actively seek opportunities for business growth and increased income, repay mortgage and step up investment.

60’s: Stay married, stay happy, stay healthy, stay professionally relevant and stay working!

What’s the last book you read?

How Star Wars Conquered the Universe - Chris Taylor.

Thoughts from advisers - Samuel Rees-Thomas

Thoughts from advisers

We reached out to some advisers and other experts in the industry for their thoughts and opinions on the job, advice they’d give to people looking to get into the financial services industry, what they’re looking forward to and steps people can take to set themselves on the best financial path at different stages.

Thoughts from Samuel Rees-Thomas, Director and Financial Adviser at Harness Financial

What is the most rewarding part of your job?

Saving New Zealanders' lives. Literally. (Especially when it comes to Health Insurance advice paying off). 

If you could give one piece of advice to someone looking to get into the financial services industry, what would it be?

Go through the Financial Advice process yourself multiple times with a few different advises and take notes.

Pay for the advice if a fee is involved. Buy insurance through an Adviser, take notes.

Go through the insurance sales process at your bank, take notes and compare the experience.

Start investing in a managed fund after receiving advice. 

What is something you are looking forward to about the industry over the next 10 years?

An increase in the nation's financial literacy.

What steps can people take to set themselves on the best financial path in their 20s, 30s, 40s, 50s, and 60s?

20’s: Read Rich Dad, Poor Dad. Follow the principles. When you buy your first house, buy a 'house' because of its merit. Don't try and buy your long-term home.

"Work harder on yourself than you do in your job (but still work hard), that way your income earning potential will grow and so will your character." Jim Rohn (summarised). Buy 5 star Health Insurance and Income Protection.

30’s: Don't wait too long to have kids as you'll never have more time or energy than you do now.

Push yourself and take new career opportunities.

Make sure your retirement planning pathway and the associated disciplines are locked down and underway. Date your spouse even when you've been together for a long time.

40’s: Revisit wealth generation & retirement strategy, ensure your goals and disciplines are aligned.

50’s: Revisit wealth generation & retirement strategy, ensure your goals and disciplines remain aligned.

60’s: Revisit wealth generation & retirement strategy, ensure your goals and disciplines remain aligned.

Thoughts from advisers - Louise Grinstead

We reached out to some advisers and other experts in the industry for their thoughts and opinions on the job, advice they’d give to people looking to get into the financial services industry, what they’re looking forward to and steps people can take to set themselves on the best financial path at different stages.

Thoughts from Louise Grinstead, Director and Insurance Adviser at The Insurance Team

What is the most rewarding part of your job?

The clients, the relationships forged. I love when they call be to advise they have started gym, had kids, stopped smoking etc.

If you could give one piece of advice to someone looking to get into the financial services industry, what would it be?

If you have a passion for helping people, do it. I don’t believe you should do it “just for the money”. Do it because you want to help.

What is something you are looking forward to about the industry over the next 10 years?

Hopefully, they will sort out the trail issue i.e we work for clients that want to work with you and not a previous broker. This may be as they have retired, do not contact clients etc but they still get ongoing trail and no liability, and you are servicing the client for free and have liability. I believe absolutely in a transition period but after a year I think this should just be transferred. 

What steps can people take to set themselves on the best financial path in their 20s, 30s, 40s, 50s, and 60s?

Take out insurance, speak to a broker to help, have cover on Level as to save premiums when older. Invest, make it automatic that you have money going into some kind of savings – diversify portfolio. And health insurance – you may be fine in your 20’s but in yours 60’s you’ll be thankful you have it.

What’s the last book you read?

The laws of lifetime growth – Dan Sullivan 

Thoughts from advisers - Camilla Tumai

We reached out to some advisers and other experts in the industry for their thoughts and opinions on the job, advice they’d give to people looking to get into the financial services industry, what they’re looking forward to and steps people can take to set themselves on the best financial path at different stages.

Thoughts from Camilla Tumai, NZ General Manager of BizCap

What was the most rewarding part of being an adviser?

For me, the most rewarding part of being an adviser was witnessing firsthand how strategic financial planning can transform lives. Whether it was helping clients protect their financial future through insurance, guiding them toward their first home with KiwiSaver, or showing them how to live their best life in retirement, each experience was a chance to make a real impact. It’s incredibly fulfilling to empower clients with the knowledge and tools they need to achieve their dreams.

If you could give one piece of advice to someone looking to get into the financial services industry, what would it be?

My biggest advice would be to focus on building relationships and trust. Being an adviser is about more than just financial products; it’s about understanding each client’s unique goals and guiding them with empathy and integrity. Take time to educate yourself and your clients—financial knowledge is powerful, and when clients trust that you genuinely have their best interests at heart, you’ll create meaningful, lasting relationships.

What is something you are looking forward to about the industry over the next 10 years?

I'm excited about the growing focus on financial education and accessibility in our industry. With digital tools and resources expanding, more people are gaining access to personalised advice that can support them at any stage of life. I look forward to seeing an industry where everyone, regardless of their financial starting point, has the guidance they need to make empowered decisions for their future.

What steps can people take to set themselves on the best financial path in their 20s, 30s, 40s, 50s, and 60s?

• 20s: Begin with good habits—set up a budget, start an emergency fund, and begin contributing to retirement savings, even if it’s small. Getting familiar with investing early is invaluable.

• 30s: This is a time for more focused planning. Grow your investments, increase retirement contributions, and consider insurance to protect yourself and loved ones.

• 40s: Start building wealth more aggressively while managing debt. Regularly review your financial goals and ensure your retirement plan is progressing as planned.

• 50s: Focus on accelerating savings and clearing high-interest debt. Take time to review your retirement goals and adjust investments to secure your financial future.

• 60s: It’s time to transition into wealth preservation. Assess your income sources and create a sustainable withdrawal plan for retirement.

Financial planning is a journey that evolves with every decade, and taking proactive steps at each stage creates the foundation for a secure and fulfilling financial future.

What’s the last book you read?

Atomic Habits by James Clear