AIA NZ to renew adviser wellbeing research in 2023

Calling all New Zealand financial advisers

AIA NZ is sponsoring a second independent research project to better understand the mental health and wellbeing of financial advisers in New Zealand and is calling on advisers to take part in the survey.

The 2023 New Zealand Adviser Wellbeing Research follows the first-of-its-kind New Zealand study carried out in 2021. It aims to understand the current state of mental health of New Zealand financial advisers, explore the habits and attitudes of those advisers who are experiencing positive mental wellbeing, and understand the mindsets and behaviours needed to evolve and manage significant market disruptions.

Sharron Botica, AIA NZ Chief Partnership Distribution Officer, says: “We are pleased to be delivering this important research again in 2023. The 2021 results provided valuable insight into the key challenges experienced by financial advisers and has subsequently informed our approach to how we engage with them since.”

“The financial services sector continues to see significant change in the operating and regulatory landscape, and with recent extreme weather events and the rising cost of living, financial advisers are increasingly supporting distressed customers. We and our industry peers have been working steadily with advisers to help them through these challenges, but there’s no doubt the combination of these conditions have proved especially demanding for financial advisers.”

AIA NZ will be working again with Sydney-based researchers Dr Adam Fraser, founder of The e-lab, and Dr John Molineux from Deakin University, who specialise in producing reports of this nature.

Click here to take part in the 2023 New Zealand Adviser Wellbeing Research and share your views

The New Zealand Adviser Wellbeing Research is open until 7 July 2023 to all financial advisers in New Zealand, not just those involved in the life insurance industry. It is not a requirement to have previously placed business with AIA NZ.

The research will use a mixed methods approach – an anonymous survey, which will take approximately 15 minutes, and a voluntary interview relating to the research to further inform the findings from the study. If you would like to express your interest in participating in the interview there is more information at the end of the survey.

To show our appreciation, AIA NZ will donate $10 to the Mental Health Foundation for every New Zealand Adviser Wellbeing survey response received (up to $2,500). In recognition of those who express interest in participating in the interview, there will be a draw to win one of two $250 Countdown vouchers*.

The 2021 research found that Kiwi financial advisers increasingly face work burnout and deteriorating mental wellbeing.

• 20 percent of advisers surveyed were seeking or had sought medical care for stress
• 15 percent had been advised by their doctor they are in a high-risk category for heart disease or stroke
• 41 percent had a moderate to high mental health risk – almost double the risk of the general New Zealand population
• When asked about the most stressful aspects of their role, more than 60 percent of advisers cited newly introduced government regulation as highly to very highly stressful.

The good news was that seven in 10 (67 percent) of advisers surveyed said they were doing a good job in managing work-life balance, and 44 percent of advisers said they felt their ‘personal time is their own’.

“At AIA NZ we’re committed to helping people live Healthier, Longer, Better Lives, and through this research, we want to be in a position to better understand, innovate and highlight opportunities, to support the health and wellbeing of the New Zealand adviser market,” concludes Botica.

*Giveaway Terms and Conditions. To enter the draw to receive one of two (2) $250 Countdown vouchers (the Prize) you need to express your interest to participate in an interview by submitting your name and email address at the end of your survey response to the NZ Adviser Wellbeing Research study prior to 11.59pm on 7 July 2023. You do not need to be selected to take part in an interview to enter the draw, you only need to express your interest to participate. Your details will be collected by The Energy Factory and used solely for the purpose of the interview and the Giveaway. Only one (1) entry permitted per person. Winners will be selected by randomised draw at AIA’s sole discretion on 4 September 2023 and contacted by email. If we do not receive a response within 3 workings days of our selection, we will select another winner. Two (2) entries selected by AIA NZ will each receive a Prize. Prizes will be sent following confirmation of email delivery. AIA NZ aims to send all Prizes to winners by 29 September 2023 but this cannot be guaranteed. AIA will not be liable to any person for any damage, loss or injury in connection with this Giveaway.

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