The War For Talent: New Programme Aims To Find The Next Generation Of Financial Advisers

To support the future of the advice industry, New Zealand’s largest locally owned life insurer, Fidelity Life, is launching a new education and skills programme - Career connect - to help attract, train, and connect new financial advisers to the sector.

Career connect aims to help bring in new advisers to the industry as some retire or choose not to adopt updated licensing requirements. In July, the Financial Markets Authority (FMA) reported that only 663 providers (just over a third) had received or applied for their full licence.

But with the cost of living crisis and inflation impacting many New Zealand households, the need for professional financial advice is arguably more important than ever - with plenty of opportunities for more qualified advisers to enter the industry.

In 2021, research from the Financial Services Council (FSC) found that those who had engaged with a financial adviser had greater peace of mind, control and confidence over their finances, ultimately helping to transform their experience with money.

Fidelity Life Chief Sales and Service Officer Bronwyn Kirwan says this demonstrates the value and impact an adviser can have on their clients, along with many other opportunities and benefits that come with the role.

“A career in the advice industry is important and rewarding work, as you’re helping to protect New Zealanders’ way of life and giving them long term financial security. Qualified financial advisers are trusted, have great job prospects, plenty of flexibility with opportunities to work for yourself or someone else, and have fantastic earning potential so there are a lot of pros!”

Every aspect of the programme has been carefully curated to ensure participants feel fully equipped with the qualifications, soft skills, knowledge, and connections to excel as an adviser.

Perfect for self-motivated people thinking about a career change or interested in working in the financial services sector, Career connect is a six-month part-time programme and can be completed while in full-time employment.

Fidelity Life will offer two intakes a year in February and July, with 20 applicants selected per intake. Prospective candidates must be over 21 years old or hold a graduate diploma.

In addition to the formal Level 5 Certificate and Financial Advice New Zealand (FANZ) ethics course, the programme consists of eight supplementary modules. These include code of conduct and legislation training, lead generation techniques, and personal brand development, with programme participants only required to cover the hard costs for the formal qualifications.

To help attract new talent to the industry, Fidelity Life will also offer five scholarships per intake, which will cover the costs of the formal qualifications and provide some additional financial support throughout the six-month programme. Recognising that switching careers can be challenging, the scholarships will alleviate some of the financial pressure so candidates can focus on becoming qualified advisers.

“Research from industry bodies and regulators such as the FMA, FANZ and FSC have all proven that people who get professional advice are better protected, better prepared for the future, and have better long-term financial outcomes. But less than two in five New Zealanders have received professional advice in the last 12 months. That means there’s significant opportunity for new adviser prospects.

“It’s clear we need a robust industry to ensure a greater number of New Zealanders get proper protection and advice, so if you’re looking for a meaningful change, becoming an adviser is a great profession to explore,” says Bronwyn.

To help kick off Career connect, Fidelity Life will host online career evenings to share more about the programme, the scholarships available, and what it’s like to be a financial adviser. The first of the online career evenings will take place on 18 October and 3 November 2022 for the February 2023 intake, and registrations to attend are open now.

To apply for the careers evening and for more information about Fidelity Life’s Career connect programme visit: https://fidelitylife.co.nz/our-story/career-connect/#register-for-a-career-evening or contact careerconnect@fidelitylife.co.nz

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