Fidelity Life has five new scholarships worth up to $5,000 each that it hopes will broaden the mix of financial advisers.
In a statement, the firm says its scholarship recipients will reflect groups typically under-represented in the financial advice industry, including Māori, Pasifika, and women.
The five successful applicants will be part of the 20 candidates selected for its new financial adviser education and skills programme, Career connect.
The firm’s Head of Solutions and Services, Trecia Brown, says Career connect was developed to help drive a more vibrant advice industry to better meet New Zealanders’ growing need for professional financial advice.
According to research by the FSC in 2021 more than 80% of adviser respondents were male, just under 87% identified as European, and 73.5% were aged over 50.
“Money matters are personal, so people need to feel comfortable building a long term relationship with an adviser they can relate to,” says Brown.
The five new Career connect scholarships are:
- Pounamu scholarship – to assist Māori applicants
- Kōwhai scholarship – to assist Pasifika applicants
- Rangi Po scholarship – to assist underrepresented communities within the financial services sector
- Toe Toe scholarship – to assist young applicants aged 21-25 years old
- Pāua scholarship – to assist applicants who demonstrate excellence in their submission