Financial Services Council recognises a year of collaboration, innovation and 8% membership growth

The Financial Services Council’s (FSC’s) 2022 Annual General Meeting took place today, announcing a strong outlook after a solid year of growth and sector collaboration.  

After a very difficult 12 months of the pandemic, the sector has helped New Zealanders manage over $84 billion of KiwiSaver assets, has insured health cover for 1.18million and paid out over $1.21 billion in life insurance claims. 

The FSC’s Annual Report detailed the many activities of the Council, including:  

• Flagship Regenerations conference with 4,324 attendees;  
• delivery of 7 pieces of research, including the 2022 Financial Resilience Index;  
• It Starts With Action campaign engaging over 100 supporters to grow the financial confidence and wellbeing of women; 
• new online data dashboards released for life insurance, health insurance and KiwiSaver; 
• 29 online events; 
• 3 CEO roundtables;  
• 14 submissions on policy consultations;  
• over 100 meetings with Government, Regulators and the IR; 
• launch of new FSC website, consumer brand, members area and CRM; 
• digital and in-person Future Ready Advice Summits. 

One of the key highlights of the year was the collaboration with Te Ara Ahunga Ora Retirement Commission on the It Starts With Action campaign to deliver a financial capability initiative for women. The campaign galvanised over 100 supporters from within and beyond the sector, reached 1.6 million New Zealanders and saw over 70 events and activities taking place over three months.   

FSC Chief Executive Richard Klipin said “the achievements of our members and financial services sector over the past year demonstrates incredible resilience through challenging times. It also demonstrates the power of collaboration and leadership. 

New FSC Board announced 

The new FSC Board was announced today, welcoming new Board member Melissa Cantell (Fidelity Life).  

 The following Board members were re-elected: Adam Boyd (ASB), Gail Costa (Cigna), Fiona Mackenzie (ANZ Funds Management), James McDonnell (FNZ), Hugh Stevens (Smartshares), Grant Willis (Asteron Life). 

 Continuing Board members include: Nick Astwick (Southern Cross Health Society), Naomi Ballantyne (Partners Life), Peter Forster (BNZ), Nigel Jackson (BT Funds Management (NZ) Limited) and Nick Stanhope (AIA NZ). 

 Rob Flannagan, Independent Chair, said “I welcome back our new Board member Melissa Cantell and thank our exiting Board members, Reuben Lawrence and Stewart Taylor, for their commitment to helping us grow the financial confidence and wellbeing of New Zealanders over the past year.”  

 “I’d also like to thank the Board along with all of our members and the FSC team for delivering exceptional results and for their dedication and leadership that is continuing to help fulfil our vision to grow the financial confidence and wellbeing of New Zealanders." 

Notes to editors  

The 2021/22 Annual Report is available to view on the FSC website. 

*106 members as of 3 November 2022.   

  The 2023 FSC Board:  

•   Nick Astwick (Southern Cross Health Society) 
• Naomi Ballantyne (Partners Life) 
• Adam Boyd (ASB) 
• Melissa Cantell (Fidelity Life) 
• Gail Costa (Cigna) 
• Peter Forster (BNZ) 
• Nigel Jackson (BT Funds Management (NZ.) Limited) 
• Fiona Mackenzie (ANZ Funds Management) 
• James McDonnell (FNZ) 
• Nick Stanhope (AIA NZ) 
• Hugh Stevens (Smartshares) 
• Grant Willis (Asteron Life) 

 2021/22 Retired Board members:   

• Melissa Cantell (Fidelity Life) 
• Reuben Lawrence (BNZ) 
• Stewart Taylor (ANZ NZ)