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.

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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!

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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

New Chair of Southern Cross Medical Care Society appointed

Chris Black has been appointed Chair of Southern Cross Medical Care Society (Health Society). Black joined the Health Society Board in 2021. Black has held a range of leadership positions over the course of his career, including Chief Executive of Farmers Mutual Group, ICNZ President and Commissioner of the Insurance & Financial Services Ombudsman Scheme. He is currently a Trustee of the Southern Cross Health Trust, Chair of the Natural Hazards Commission and Rabobank New Zealand, and a Trustee of the Mental Health Foundation.

Outgoing Chair Murray Jordan retired at the organisation’s Annual General Meeting (AGM) last week.

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Empower Women Networking Events 6 & 11 March

FSC seek feedback on FMA's proposed exemption for Climate Reporting Entities

Surgeons at Southern Cross North Harbour Hospital win research award

Fidelity Life open applications for training programmes

Fidelity Life has opened applications for Advice Masters, Professional Pathways, Practice Manager Masterclass and Career Connect.

Applications are open for Advice Masters, Fidelity Life's intensive training and personalised professional development programme designed for experienced business owners in the financial services industry. The programme encompasses a wide range of topics: M&A; capital raising/funding strategies; high performance for business leaders; leading high performing teams; business strategy design and execution; governance; board craft; director skills and sustainability; business efficiency; technology and AI. The 30 available spots are by invitation only – interested people can talk to their business manager or apply here.

Professional Pathways is Fidelity Life's customisable extended training and development programme designed for motivated advisers, who are dedicated to growth and achieving their business goals. Over a 9-month period the programme will take participants through key topics – developing their business; advice and planning; business sales and growth; business efficiency. The programme consists of skills based workshops, self-paced learning through courses, resources and quizzes, online webinars and interactive online workshops.

Practice Manager Masterclass are targeted at admin staff and will help to improve workflow and productivity.

Career Connect is Fidelity Life's comprehensive education and skills programme designed to develop the next generation of financial advisers. Career Connect equips participants with relevant qualifications, practical skills and knowledge, and industry connections. The 2025 intake will commence in May and will run for 6 months. Applicants will be invited for an interview and the fee for the programme is approximately $1650.

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