AIA NZ is sponsoring a second independent research project to better understand the mental health and wellbeing of financial advisers in New Zealand.
The survey aims to understand the current state of mental health of financial advisers. Advisers can take part in the study here. This latest initiative mirrors a study AIA carried out in 2021.
Sharron Botica, AIA NZ Chief Partnership Distribution Officer, says: “We are pleased to be delivering this important research again in 2023. The 2021 results provided valuable insight into the key challenges experienced by financial advisers and has subsequently informed our approach to how we engage with them since.
AIA NZ will be working again with Sydney-based researchers Dr Adam Fraser, founder of The e-lab, and Dr John Molineux from Deakin University, who specialise in producing reports of this nature.
The New Zealand Adviser Wellbeing Research is open until 7 July 2023 to all financial advisers in New Zealand, not just those involved in the life insurance industry. It is not a requirement to have previously placed business with AIA NZ.
The research will use a mixed methods approach – an anonymous survey, which will take approximately 15 minutes, and a voluntary interview relating to the research to further inform the findings from the study. If you would like to express your interest in participating in the interview there is more information at the end of the survey.
…financial advisers are increasingly supporting distressed customers…
AIA is offering to donate $10 to the Mental Health Foundation for every New Zealand Adviser Wellbeing survey response received (up to $2,500). In recognition of those who express interest in participating in the interview, there will be a draw to win one of two $250 Countdown shopping vouchers.
The 2021 research found that Kiwi financial advisers increasingly face work burnout and deteriorating mental wellbeing, and that:
- 20% of advisers surveyed were seeking or had sought medical care for stress
- 15% had been advised by their doctor they are in a high-risk category for heart disease or stroke
- 41% had a moderate to high mental health risk – almost double the risk of the general New Zealand population
- When asked about the most stressful aspects of their role, more than 60% of advisers cited newly introduced government regulation as highly stressful
Botica says: “The financial services sector continues to see significant change in the operating and regulatory landscape, and with recent extreme weather events and the rising cost of living, financial advisers are increasingly supporting distressed customers.”
Read our report on AIA’s 2021 mental health survey results here.