The Financial Services Council (FSC)’s 2024 Annual General Meeting took place yesterday (5 November 2024), announcing steady growth and the resilience of the sector during volatile markets and the 2025 FSC Board.
Over the past 12 months, the financial services sector has seen significant milestones such as KiwiSaver funds under management surpassing $100 billion and the Official Cash Rate dropping.
However, the cost-of-living continues to put pressure on the day to day for many New Zealanders, with more Kiwis accessing KiwiSaver hardship withdrawals* and FSC research showing sacrifices in long-term savings for short-term financial commitments.
“As the voice of the sector with the vision to grow the financial confidence and wellbeing of New Zealanders, the FSC continues building our policy and advocacy arm to deliver better financial outcomes and build resilience for all New Zealanders,” said CEO of the FSC, Kirk Hope.
The FSC’s 2023/24 Annual Report included highlights such as:
Policy and Advocacy
- FSC’s Blueprint for Growth and KiwiSaver Policy Priorities released
- 20 Regulatory and Policy submissions as the voice of the sector
Leadership and Insight
- Four research reports on the financial wellbeing of New Zealanders released
- Quarterly data on KiwiSaver and Life Insurance industries gathered
- Senior Ministers and officials speaking and engaged at FSC events
Consumer
- Money and You website sharing money tips and stories
- Merry Money campaign and Money Month activities aimed to get Kiwis thinking about their money
Community of Professionals
- The merging of Women in Super NZ to form ‘Empower Women’, a community focused on the financial wellbeing of New Zealand women
- Climate Scenario Narratives for the Financial Services Sector published
“Thank you to our members, the FSC Board, Naomi Ballantyne, who stepped down as Deputy Chair in March, and departing Board member Peter Forster, for their support and guidance over the past year. I look forward to continuing to shift the dial for New Zealanders,” concluded Mr. Hope.
The 2025 FSC Board is as follows:
- Rob Flannagan - Chair
- Nigel Jackson (BT Funds Management (NZ) Limited) – Deputy Chair
- Adam Boyd (ASB)
- Ana-Marie Lockyer (Pie Funds)
- Anna Scott (Smart)
- Campbell Mitchell (Fidelity Life)
- Fiona Mackenzie (ANZ Funds Management)
- Gail Costa (Chubb Life)
- Grant Willis (Asteron Life)
- James McDonnell (FNZ)
- Michael Weston (Partners Life)
- Nick Astwick (Southern Cross Health Society)
- Nick Stanhope (AIA NZ)
ENDS
*FMA KiwiSaver Annual Report 2024
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