Fidelity Life and Farmers’ Mutual Group are deepening their strategic alliance, with FMG adding two new rural scholarships to Fidelity Life’s financial adviser skills and training programme, Career connect.
The two new FMG scholarships mean there are now a total of seven Career connect scholarships available, in addition to regular places on the programme.
The new scholarships aim to encourage New Zealanders living in rural regions to consider a career as a financial adviser.
The scholarships will cover the cost of the formal qualifications needed to practice as a financial adviser under the new regulatory regime, which came into effect last week.
FMG’s chief client officer, Glenn Croasdale, said fostering new talent in the financial advice industry is important for the wider financial services sector.
“We’re excited to be supporting two up-and-coming rural advisers through Fidelity Life’s Career connect programme. With many of New Zealand’s rural communities facing challenges, the need for good financial advice becomes ever more important. The more support we can provide our farmers and growers to help boost their financial resilience, the better,” Croasdale said.
Fidelity Life solutions manager Sarah-May Butterfield welcomed FMG’s investment in Career connect.
“The industry has been crying out for fresh talent for some time, and as the latest figures from the FMA show, the industry has contracted by around 2200 advisers under the new full-licensing regulation, so the time is right. “Career connect is all about attracting new talent to a career that’s purpose-led, dynamic and enables you to help your community, and we’re thrilled FMG shares our vision for the programme. Their two new rural scholarships are the perfect complement to our existing scholarships which aim to boost diversity in New Zealand’s advice industry.”