A new review by the Financial Markets Authority found most Kiwis aren’t getting the financial advice they need. 

Just 28% of Kiwis sought advice in the last 12 months, despite rising debt and inflation pressures. 

As a result, many people are making KiwiSaver, insurance, and retirement decisions without any guidance. 

Financial Advice NZ CEO Nick Hakes told Mike Hosking people do want financial advice, but they don’t know how to access it or potentially, what it is.  

He says as a culture, we’re not very good at talking about money no matter what our situation is, despite the fact that it’s often the biggest cause of stress. 

LISTEN ABOVE 

A new review by the Financial Markets Authority found most Kiwis aren’t getting the financial advice they need.&nbsp;
Just 28% of Kiwis sought advice in the last 12 months, despite rising debt and inflation pressures.&nbsp;
As a result, many people are making KiwiSaver, insurance, and retirement decisions without any guidance.&nbsp;
Financial Advice NZ CEO Nick Hakes told Mike Hosking people do want financial advice, but they don’t know how to access it or potentially, what it is. &nbsp;
He says as a culture, we’re not very good at talking about money no matter what our situation is, despite the fact that it’s often the biggest cause of stress.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.The sharpest voice and mind in the business, Mike drives strong opinion,...

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Nick Hakes: Financial Advice NZ CEO on the review finding only 28% of Kiwis accessed financial advice in the past 12 months

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/21ce2abb-c5c0-4815-8f79-b4180156fdc0/transcript