The strategy – a result of a collaboration between the FMA and the CFFC – was presented to Parliament on March 15.

Its key aims: to align New Zealand’s financial community, to better serve Kiwis and to make sure that they understand money.

Tom Hartmann, communications manager at the CFFC says that financial advisers have a crucial part to play in the Government's strategy for providing financial capability to all New Zealanders.

“The vision is for New Zealanders to understand money, because of that financial advisers obviously have a key role to play.

“Both in their everyday activities, but the more advisers that provide their experience and expertise to other organisations the more effective this strategy is going to be.”

Hartmann believes that the skills that advisers have built up over years of engaging with New Zealanders and their finances are crucial for the strategy’s objectives and success.

“Advisers have a huge role to play in demystifying money. They are on the front lines of helping people cut through jargon, and helping people realise the long-term effects of their decisions.”

Part of the strategy is bringing financial knowledge to government-defined “priority audiences” that often do not receive help with their finances, such as women, Māori and Pasifika.

According to Hartmann these are communities that could greatly benefit from the knowledge base of advisers.

“We are pro-advice and we want to see the value that financial advisers bring expanded to as wide a base as possible.

“Obviously we know there are commercial constraints to making that work but overall we would like to see advisers bring their expertise to those key audiences.”

Hartmann says that it is important for advisers to realise that they are part of something bigger.

“Advisers should see themselves as part of the financial capability community. The more they are able to be involved the more effective this strategy will be.

“There could not be a strategy for financial capability that does not include financial advisers.”

Read more about the National Strategy for Financial Capability HERE.