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Speaking during the opening of the FSC’s Future Ready conference in Queenstown, AIA’s Sam Tremethick returned to the company’s research into the mental health of the adviser community saying just 11% of an adviser’s time is spent giving advice.
Pointing to a survey carried out during the September 2021 lockdown, he said some of the key issues raised by advisers included heavy workloads and the stress it caused them.
“Since the survey was carried out we have gone through a number of quasi lockdowns,” said Tremethic, the firm’s Chief Partnership Insurance Officer.
“We have had another few waves of Covid go through the community, we have had investment markets go through correction territory, interest rates have increased, inflation has increased, the cost of living has continued to rise, we have seen the word ‘recession’ in the papers every other day…The environment has not become less stressful.”
Tremethic said the survey revealed that just 11% of an advisers’ time is spent giving advice and that almost 40% of their time is spent doing admin.
“So the main reason for being an adviser is only 11% of their day,” he said. “And then we wonder why people aren’t enjoying what they are doing.”
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