AIA New Zealand announces financial support packages to help advisers

“We hope that the two support packages announced today will go some way towards cushioning the effects of these difficult times on the financial advice sector,” concludes Sam.

AIA New Zealand, the country’s largest life insurance company, has today announced two significant financial support packages designed to help independent financial advisers through New Zealand’s post-COVID environment.

The AIA Vitality Community and Business Grant Programme provide $500,000 of grant funding to selected advisers and the Small Business Support Package provides additional remuneration designed to ensure that financial advice firms are able to continue delivering important advice to New Zealanders at this crucial time.

AIA New Zealand’s CEO, Nick Stanhope, says:

“A recent survey[1] found that half of all those surveyed said that COVID-19 was impacting their job security and that over 40 percent worry about money at least weekly. The survey also found that confidence in making financial decisions had reduced.”

“New Zealand’s financial advice firms are primarily small businesses employing fewer than five members of staff. Financial advisers play a crucial role in increasing the financial resilience of New Zealand households which is now more important than ever. Because of this, we wanted to do our bit to support financial advisers and customers at this time, in line with our purpose of Making a Difference in people’s lives,” says Nick.

AIA New Zealand’s Chief Partnership Insurance Officer, Sam Tremethick, says:

“We pride ourselves in being there for when our customers and their families need us. Last year we paid out $476 million in claims, but we can’t do it alone. Financial advice is more important than ever, however, advisers have told us that they themselves are finding these times challenging.”

“We hope that the two support packages announced today will go some way towards cushioning the effects of these difficult times on the financial advice sector,” concludes Sam.