FMA to offer free financial advice at pop-up clinic

FMA to offer free financial advice at pop-up clinic | Insurance Business New Zealand

FMA to offer free financial advice at pop-up clinic

The Financial Markets Authority (FMA) is providing free and generic financial advice in Hamilton, to meet the increased interest among New Zealanders in finances and investments due to the impact of COVID-19.

The regulator, in cooperation with Financial Advice New Zealand, will be hosting a pop-up centre offering free financial advice at Hamilton’s The Base mall on August 15, as part of Sorted Money Week 2020.

According to a statement from the FMA, the centre will be staffed by financial advisers who will provide generic financial advice to the public. It will cover topics such as how to start investing and pay less interest on a mortgage, understanding personal insurance, and choosing the right KiwiSaver fund.

This year’s Money Week theme is “just wondering”, which reflects the many money questions New Zealanders have during this time of uncertainty, the statement said. 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.

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