Clients are starting to ask about ESG in insurance advice

Goodreturns looks like it enjoyed writing the headline for its recent article on the extent of KiwiSaver investments in weapons manufacturers: 

    "Boom: 88 KiwiSaver funds invested in nukes"

KiwiSavers have all sorts of different views, levels of engagement, and outlooks - but a great deal of them do not like the idea of "investing in nukes". Unpack that belief and the reality - investing in a large weapons manufacturer - may in fact be acceptable to some and completely unacceptable to others. The point here is not to make a judgement about whether these things are right or wrong. The point is that the concept of ethical, sustainable, and governance requirements is already bigger than the investment sector. It affects all forms of client spending.

The questions can be raised in shocking ways, at a time that will not be chosen by either advisers or product providers. Greenpeace had a very successful piece of shock-marketing when it ran a mock advert for milk highlighting the way Orangutan habitat is affected by development. We need to have good answers to the questions when they come. Even though I maintain large databases on all sorts of insurers and adviser groups I would struggle to quickly identify good data on ESG issues. It is an area I am determined to address in the coming year. Your thoughts on the subject are welcome too - do drop me a line. 

 


FSC Get in Shape Conference

The FSC Get in Shape Conference is just around the corner and we thought it was a good time to highlight what to expect if attending. The conferences will be held in Wellington, Auckland, Christchurch and Dunedin. The FSC has ensured relevant topics are discussed by industry leaders in the sessions and Masterclass. Highlights of the conference include:

  • Meet and engage with the leaders shaping our sector and regulatory landscape. These include Leaders from the MBIE, the FMA, the CFFC and the financial advisory sector.
  • Consumer focus - We will unpack the latest research from across the NZ and the globe  and understand how Financial Advice is helping Kiwis lead better lives.
  • Engage with Leading legal minds at the Masterclass - The masterclass is curated by those that understand what it really means to succeed under the new regulation. Our line up of legal experts and leading advisers will be run in a practical workshop style to have you thinking outside the box and teach you how to best use resources available to you.
  • Connect  and network with your colleagues - After a very tough 2020, join your colleagues for a morning of learning, engaging and getting inspired for the year ahead.
  •  Meet  you in the market place – Once again our marketplace expo is the meeting place to connect with your suppliers and partners.
  • CPD -  Get your CPD & learning program off to a strong start for 2021. All sessions will be assessed and all attendees will receive CPD certificates for sessions attended. 

Those interested in attending can register here and find the dates and location below.

WELLINGTON
Wednesday, 10 February 2021
Arrival from 7:15am, welcome at 8:00am, advice summit close 12:45 followed by Masterclass from 1.15pm until 3.15pm

Members Gallery
Sky Stadium
105 Waterloo Quay
Pipitea,
Wellington 6140

AUCKLAND
Thursday, 11 February 2021
Arrival from 7:15am, welcome at 8:00am, advice summit close 12:45 followed by Masterclass from 1.15pm until 3.15pm

North Level 5 Lounge
Eden Park Function Centre
10 Reimers Ave
Kingsland
Auckland 1024

CHRISTCHURCH
Wednesday, 17 February 2021
Arrival from 7:15am, welcome at 8:00am, advice summit close 12:45 followed by Masterclass from 1.15pm until 3.15pm

Tait Technology Centre
245 Wooldridge Road
Harewood
Christchurch 8051

DUNEDIN
Thursday, 18 February 2019
Arrival from 10:00am, welcome at 10:30am, close 3.00pm followed by Masterclass from 3.15pm until 5.15pm

Dunedin Centre
1 Harrop Street
Dunedin 9016

Get In Shape 2021 Big Banner v1 - Financial Services Council


Tony Vidler: doubts that insurance churn is such a big issue

Here is an article from Tony Vidler discussing the churn of life and health insurance in NZ, and why he feels it is not as bad as everyone makes it out to be. There are some well-made points in here - for example, there are big trends towards more choice and greater consumer propensity to switch in all sorts of products (cars, houses, even once very stable banking relationships are more open to change). 


Fidelity Life to reduce plastic wastage

Fidelity Life have announced that they are changing the way they package applications forms and other stationery sent to advisers based on the feedback they have received. They are getting rid of the old plastic wrapping and will instead be using paper bands.

Advisers can now order quantities of their choice instead of having to order packets of 5 or 10 of each thing.