Insights
Local opportunity: grow financial wellness, grow your business

Aotearoa’s bounty of entrepreneurial spirit, reflected in the strength and resilience of our many small to medium businesses nationally, is something Kiwis are rightfully proud of. Yet, while our commercial drive is strong, many of these same businesses struggle when it comes to supporting the financial well-being of their staff, which is often compounded in an inflationary economy or during periods of market uncertainty.

Recent studies have revealed that when people are financially stressed, their productivity, motivation, and overall quality of life can be impacted, and that in turn impacts business. As a financial adviser, this presents a meaningful opportunity to help, in more ways than one.

Let's start with some rather staggering statistics from a range of studies:

59% of Kiwi’s say financial issues have affected their overall wellbeing [1].

Employees lose 13-20 hours of productive time a month due to money stress [2].

One in five employees admit that financial stress reduces their motivation at work [3] and this has them seeking a better paid job [4], (not realising that higher salaries alone, won’t usually solve their financial challenges).

34% of employers report that ‘financial illness’ results in work absence [5].

We all know that financial literacy is key to improving financial outcomes – and can help wellbeing. This presents a gap that you, as a financial adviser is uniquely positioned to fill.

You are well aware of the impact you can have on a client one-on-one. Improving simple things like checking their KiwiSaver is in the right fund, maximising their government contributions, or creating a budget, makes a big difference to an individual over time. So how do we spread these key messages further, getting in front of businesses, rather than one-on-one, and therefore impacting more Kiwi’s?

Firstly, let’s shift the dial from seeing this as a hard sell to a genuine opportunity to help.

Secondly, let’s start local - using your natural sphere of influence to find groups in your network that would genuinely benefit from the expertise you, as an adviser, have in abundance. Who are you standing next to on the sideline at rugby, what community centres or forward-thinking businesses in town could you contact? Start small, start short, a 30 min lunch time session with staff could be all you need to get started.

Financial education to a group of people (one to many) at a high level initially, opens people’s minds, builds trust and may open your door for further ongoing advice. By focusing on purpose (solving a big problem), education (simple and basic), and long-term relationships, you can become a centre of influence, differentiate your business in a competitive market and build a sustainable, impactful practice.

As a purpose driven company, we are passionate about improving financial literacy for all Kiwi’s as well as championing holistic financial advice. We recognise that your advice, independent of any one specific provider, delivers better outcomes for clients. We welcome the opportunity for you to leverage our resources in the following ways.

1. Preferred provider agreements
As an adviser you can help a business find the right preferred KiwiSaver provider. Some preferred provider agreements, like Pathfinder's, ensure you are part of the introduction process for new KiwiSaver members, and have the potential to create a steady stream of leads while positioning the adviser as a trusted resource for financial education and support.

2. Collaborative educational presentations locally
Simon Quirke, our Relationships Manager actively books presentations and builds relationships with businesses all over the country. These sessions focus on financial well-being, KiwiSaver, and broader financial related topics. Please get in touch with Simon to explore how we can support activating a presentation in your area.

3. Presentation material
Pathfinder is happy to share our experience and material on general financial wellbeing topics. Reach out to Simon.Q@Pathfinder.kiwi if you’d like to see what we have to offer.

4. Inspiration and ongoing communication
Building trust requires consistent communication. Please tap into our insights page for ethical investing ideas to share with your networks. We also offer the Stay Curious Guides – an educational resource that delivers KiwiSaver and investing tips straight to people’s inboxes.

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"Thanks to a referral from Pathfinder, I’ve partnered with a local B Corp café that I regularly visit to support their team. As a result, several staff members have booked one-on-one financial advice sessions, adjusted their KiwiSaver plans to better align with their goals, and received guidance on debt management and we will be looking at their personal insurance. This collaboration has highlighted the value of accessible financial education and personalised advice—and it’s been incredibly rewarding."

Elise Vine, Financial Adviser – Strategist & Coach at Building on Basics, Christchurch

Together, we can address the financial well-being gap, enabling more Kiwi’s and their businesses to achieve better financial outcomes and a brighter future. By focusing on growing wealth - beyond just the bottom line and being driven by a strong sense of purpose, I believe we can create meaningful, long-lasting impact.

References

[1] Financial Services Council NZ

[2] Mercer + Mercer Financial Wellbeing Index

[3] EQ Consultants + Morgan Stanley

[4] EQ Consultants

[5] Financial stress hits Kiwis' mental health hard - EQ Consultants

The Prosperity Project Podcast – an informative podcast that discusses findings from the recent Financial Resilience Index survey that you may like to share with clients.

Pathfinder Asset Management Limited is the issuer of the Pathfinder KiwiSaver Plan and Pathfinder Investment Funds. Product Disclosure Statements for the offers are available at pathfinder.kiwi. Learn more about how we invest ethically by reading our Ethical Investment Policy on our website.

Photo by Lina Trochez on Unsplash