FMA to provide free financial advice to Kiwis

FMA to provide free financial advice to Kiwis | Insurance Business

FMA to provide free financial advice to Kiwis

UPDATED

The Financial Markets Authority (FMA) has partnered with Financial Advice New Zealand to provide free and generic financial advice as Kiwis become more interested in finance and investments due to the impact of the COVID-19 pandemic.

The FMA and Financial Advice NZ will host a pop-up centre at Hamilton’s The Base mall on August 15 from 9am to 6pm as part of Sorted Money Week 2020.

Financial advisers will provide free generic money advice to the public, with topics ranging from the basics of investments and paying less interest on a mortgage to understanding personal insurance and choosing the right KiwiSaver fund.

“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,” said Gillian Boyes, the manager for investor capability at FMA.

“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.”

Money Week’s theme this year is ‘just wondering’; reflecting the many money questions New Zealanders have during this time of uncertainty.

Katrina Shanks, the chief executive officer of Financial Advice NZ, said many Kiwis have not spoken with a financial adviser, so the event will offer 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,” she said.

Update: Due to COVID-19 restrictions, this event has now been cancelled.