#19 Access to Financial Advice

Financial advice can make a real difference to people’s financial wellbeing but not everyone in New Zealand is able to access it.In this episode of 5 mins with the FMA, we talk with Romil Ghelani, Head of Financial Advice at the FMA, about the findings from the FMA’s Access to Financial Advice Review.The review looks at:How many New Zealanders are accessing financial adviceWhy some groups are under‑representedWhat consumers think financial advice is — and what stops them from using itThe role of technology and innovation, including AIOpportunities for the sector to improve access and outcomesThe review is based on research with 1,000 New Zealanders and extensive engagement with the financial advice industry. It forms the basis for the FMA’s ongoing conversations with industry about how we can collectively improve access to financial advice for New Zealanders.Find the full reports and more information on our website: https://www.fma.govt.nz/library/reports-and-papers/access-to-financial-advice-in-new-zealand/