The Adviser Talk

Are we really as wealthy as the headlines claim? New Zealand recently ranked fifth globally in per capita wealth—but is that just an illusion? In this episode, Tim and Nick unpack why so much of our “wealth” is tied up in property, what that means for financial security, and practical steps to build resilience beyond bricks and mortar.(00:00:00) Intro: Are we really the fifth-wealthiest nation, or is it smoke and mirrors?(00:00:36) Why Kiwis feel squeezed despite global wealth rankings(00:00:49) The Allianz report and New Zealand’s property-heavy balance sheet(00:03:38) Why housing wealth creates an illusion of security(00:04:29) The “third age” and risks of poor cash flow in retirement(00:06:40) Government incentives and our obsession with property(00:08:07) GDP per capita vs wealth rankings—what’s the real story?(00:09:57) Why New Zealand’s productivity has lagged for decades(00:13:30) Export strategy and lack of value-add in key industries(00:16:02) Practical steps for genuine financial resilienceThe Adviser Talk is available on all major streaming platforms, including Spotify and Apple Music.Nick Stewart is a Financial Adviser and CEO at Stewart Group, a Hawke's Bay and Wellington-based CEFEX-certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, Wealth Management, Risk Insurance and KiwiSaver solutions.The information provided, or any opinions expressed in this show, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from an Authorised Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz

Is wisdom really worth 4.52%?In this episode, Tim and Rory unpack the true value of advice.Russell Investments recently quantified the value financial advisers bring to New Zealand investors at 4.52%, Rory breaks down the “price of wisdom” and explores the real benefits that extend far beyond portfolio performance.(00:00:43) What’s in the 4.52%: asset allocation, customised planning, and behavioural coaching (00:01:38) Why investors fixate on numbers; NZ’s property bias and herd behaviour (00:02:24) When “safe” turns risky: property boom/bust parallels with ’87 crash, dot‑com, GFC, COVID (00:03:25) Returns comparison: NZX50 (~6.9x) vs globally diversified (~17.5x) since the late ’80s (00:04:06) Media narratives, bubbles and innovation; the human tendency to react to “now” (00:05:31) Holistic planning beyond returns: tax efficiency, structures, succession, risk insurance (00:06:13) Goals you can’t price: flexibility, travel, family—why some outcomes are “priceless” (00:06:35) Estate planning basics: wills, guardianship, peace of mind (00:07:51) Behavioural coaching in action: “don’t do this” moments; staying invested in KiwiSaver (00:10:27) Humans vs algorithms: reassurance and judgement you can’t automateThe Adviser Talk is available on all popular streaming platforms, including Apple and Spotify.Rory O'Neill is a Financial Adviser as well as the Director and General Manager at Stewart Group, a Hawke's Bay and Wellington-based CEFEX-certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, Wealth Management, Risk Insurance & KiwiSaver solutions. The information provided, or any opinions expressed in this show, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from an Authorised Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz

Are yesterday’s market champions tomorrow’s winners? History says not likely. Driving the discussion: Financial advisor Bruce Jenks warns investors against concentrating portfolios in these high-performing stocks, despite the fear of missing out. While these companies benefit from AI-driven productivity gains, past market leaders like ExxonMobil and Chevron have shown that dominance doesn't last forever. Tune in to learn what simple, proven strategy remains your best defence against market uncertainty. Important time stamps:(00:00:42) Intro: Why yesterday’s winners may not be tomorrow’s champions(00:01:15) The rise of the “Magnificent Seven” and investor FOMO(00:03:02) Lessons from past market leaders (00:04:18) How quickly market leadership shifts(00:06:05) AI-driven gains and the risk of overconcentration(00:08:27) Diversification explained: reducing risk without sacrificing returns(00:10:14) US vs NZ market performance over the past five years(00:13:45) AI opportunities beyond tech(00:15:22) Why long-term planning beats chasing past performance(00:17:10) Closing thoughts: discipline, diversification, and clear strategyThe Adviser Talk is available on all major streaming platforms, including Spotify and Apple Music.Bruce Jenks is a Financial Adviser at Stewart Group, a Hawke's Bay and Wellington-based CEFEX-certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, Wealth Management, Risk Insurance and KiwiSaver solutions.The information provided, or any opinions expressed in this show, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from an Authorised Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz

Can even the smartest minds outsmart market mania?Sir Isaac Newton lost a fortune in the South Sea bubble—proof that FOMO can derail even genius.In this episode, Tim and Nick unpack what Newton’s misstep teaches us about bubbles, herd behaviour and today’s hype-driven markets. Discover why diversification, discipline and wise counsel remain your best defence against financial folly.Important time stamps:(00:00:37) Intro: Newton’s investment mistake and market bubbles(00:01:33) Why bubbles happen and why they’re hard to spot(00:03:22) What Newton’s South Sea bubble experience reveals about investor behaviour(00:03:38) Deep dive into the South Sea bubble and Newton’s costly mistake(00:06:49) Newton’s famous quote on human behaviour and markets(00:08:14) Parallels between historical bubbles and today’s AI boom(00:11:36) Why predicting winners is nearly impossible(00:11:48) Strategies to counter FOMO and avoid poor decisions(00:13:30) Diversification as the best defence against market uncertainty(00:14:46) Role of financial advisers in preventing big mistakes(00:17:33) Closing thoughts: humility, discipline and diversificationThe Adviser Talk is available on all popular streaming platforms, including Spotify and Apple.Nick Stewart is a Financial Adviser and CEO at Stewart Group, a Hawke's Bay and Wellington-based CEFEX-certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, Wealth Management, Risk Insurance and KiwiSaver solutions.The information provided, or any opinions expressed in this show, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from an Authorised Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz

Is your KiwiSaver working hard enough for your future?KiwiSaver should be part of a broader, holistic financial strategy—not a standalone account. Many Kiwis opt for overly cautious KiwiSaver options because they're not considering their entire asset mix.Tune in as Tim and Rory discuss how aligning your investments, property, insurance, and income can set you up for long-term retirement success. Important time stamps:(00:00:00) Episode and guest introduction(00:00:52) Importance of viewing KiwiSaver as part of a holistic financial picture(00:01:27) New Zealand's traditional approach to retirement planning and asset allocation(00:02:43) KiwiSaver as a growth asset and restructuring asset allocation(00:03:35) Explaining 'whole of wealth' and its practical implications(00:05:04) Challenges of fragmented financial advice and benefits of integrated planning(00:06:33) Impact of home ownership and mortgage on KiwiSaver strategy(00:07:46) Retirement flexibility and managing KiwiSaver post-65(00:08:42) Common mistakes in KiwiSaver fund selection and conservative allocations(00:10:05) Life changes and the need to adjust KiwiSaver strategy over time(00:10:37) Benefits of holistic financial advice over siloed providers(00:11:21) Financial planning for young individuals starting their journeyThe Adviser Talk is available on all popular streaming platforms, including Spotify and Apple Podcasts. Rory O'Neill is a Financial Adviser as well as the Director and General Manager at Stewart Group, a Hawke's Bay and Wellington-based CEFEX-certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, Wealth Management, Risk Insurance & KiwiSaver solutions. The information provided, or any opinions expressed in this show, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from an Authorised Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz

Is home ownership still the Kiwi dream, or has reality shifted?Featuring Brent Allcock, Financial Adviser, this episode dives into the realities of New Zealand’s housing market in 2025. Tim and Brent discuss the impact of interest rates, wage growth, and inflation on home ownership, the causes and consequences of our housing correction, and whether owning property is still a realistic goal for young New Zealanders.How does New Zealand’s market compare internationally? Tune in for expert perspectives and insights on navigating the evolving property market.The Adviser Talk is available on all popular streaming platforms, including Spotify and Apple Podcasts. Brent Allcock is a Financial Adviser at Stewart Group, a Hawke's Bay and Wellington-based CEFEX certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, Wealth Management, Risk Insurance & KiwiSaver solutions.  The information provided, or any opinions expressed in this show, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from an Authorised Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz

Whether you're earning a little or a lot, today we’re unpacking how short-term thinking and our spending habits can cost us more than we realise.From the weekly budget trap to guilt-free online splurges, we explore the psychology behind our choices, the hidden cost of cheap goods, and how to align your money with your values.Tune in now and take control of your financial mindset.Important time stamps:(00:00:50) Episode and guest introduction (00:01:40) Short-term Budget Savings: Why people fall into the trap of buying cheaper items more often, even when it costs more in the long run.(00:02:27) Quality vs. Cheap Goods: The long-term value of buying quality goods versus cheap.(00:03:28) Shopping as Emotional Fulfilment: Shopping has shifted from a necessity to a form of emotional fulfilment or entertainment.(00:04:18) Hidden Costs of Cheap Goods: The hidden costs of buying cheap goods beyond just the price tag.(00:06:16) Disposable Product Mentality: Discussion on the mentality of disposable products and the inconvenience of returning online purchases.(00:08:41) B Corp Certification: What is it and how can it help consumers make more values-aligned choices?(00:10:06) Long-term Financial Planning: How you can start thinking more long-term with your money, even if you're on a tight budget.(00:12:22) Keeping Up with the Joneses: The risk of lifestyle creep and wanting to keep up with others.The Adviser Talk is available on all popular streaming platforms, including Spotify and Apple Podcasts. Rory O'Neill is a Financial Adviser as well as the Director and General Manager at Stewart Group, a Hawke's Bay and Wellington-based CEFEX-certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, Wealth Management, Risk Insurance & KiwiSaver solutions. The information provided, or any opinions expressed in this show, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from an Authorised Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz

A "state-protected oligopoly" dominated by four major generator-retailers?In this episode, Nick Stewart, CEO and Tim Ewen, Risk Insurance Manager, delve into the complexities of New Zealand's electricity market, covering high energy prices, their impact on manufacturing and employment, and the historical context of policy failures. Explore the government's conflict of interest due to its shareholding in major energy companies, the limitations imposed by the single Installation Control Point (ICP) rule, and the benefits of distributed energy solutions.Have you noticed the parallels between New Zealand’s energy market and the grocery sector? You’re not alone - tune in to gain insights into the challenges and potential solutions for New Zealand's energy sector. Important time stamps:(01:14) Electricity Market and Oligopoly: Discussion on New Zealand's electricity market being a state-protected oligopoly and explanation of the government's shareholding in major energy companies.(02:41) High Energy Prices: Prime Minister Christopher Luxon's acknowledgment of high energy prices and the impact of high energy prices on manufacturing and employment.(06:00) Energy Generation and Supply Issues: The lack of investment in new energy generation, the historical context of energy market reforms and their impact.(21:00) Distributed Energy and Resilience: Benefits of distributed energy for community resilience and local energy generation.(23:37) Comparison with Grocery Sector: Parallels between the energy market and the grocery sector – the illusion of choice for consumers across both.(26:24) Peer-to-Peer Energy Networks: Nick’s experience with a peer-to-peer energy network and insights from the solar community project.(29:19) Future Changes and Innovations: Suggestions for changes in the energy sector, including breaking up ICPs and investing in new generation.The Adviser Talk is available on all popular streaming platforms, including Spotify and Apple Podcasts. Nick Stewart is a Financial Adviser and CEO at Stewart Group, a Hawke's Bay and Wellington-based CEFEX-certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, Wealth Management, Risk Insurance and KiwiSaver solutions.The information provided, or any opinions expressed in this show, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from an Authorised Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz

Join Tim Ewen, risk insurance manager, and Rory O'Neill, Financial Adviser, Director and General Manager of Stewart Group, as they delve into the pressing issue of the Reserve Bank's recent OCR cut and its implications for financial planning in New Zealand.In this episode, Tim and Rory share their insights on how the OCR cut is impacting interest rates, the importance of diversifying investments, and the challenges faced by young Kiwis in the current economic climate.The conversation covers the reasons behind the OCR cut, its contribution to national inflation, and the broader economic implications. Tim and Rory also explore the significance of setting long-term financial goals, the need for an emergency fund, and the benefits of consulting a financial advisor.Tune in to gain a deeper understanding of how the Reserve Bank's decisions affect your finances and what you can do to navigate your financial journey responsibly.Read the full 'Navigating New Zealand’s Economic Crossroads' article HERETime Stamps:Introduction and Overview00:00:59 - Introduction and overview of the podcast episodeOCR Cut and Interest Rates00:01:22 - Discussion on the ongoing downward trajectory in the official cash rate (OCR) and its impact on struggling Kiwis00:01:57 - The obsession with interest rates and their impact on mortgages, term deposits, and property investmentsInvestment Strategies and Diversification00:03:17 - Questioning past investment strategies in property and their relevance today00:03:44 - The dangers of relying solely on property for wealth generation and the importance of diversificationUnemployment and Economic Challenges00:07:13 - Addressing the rising unemployment rate and its implications00:07:39 - The impact of rising unemployment on businesses and the economyChallenges for Young Kiwis00:08:44 - Challenges young Kiwis face in home ownership and their tendency to leave the country00:09:20 - The lack of opportunities for young people in New Zealand and their decision to move overseasFinancial Planning Advice00:12:15 - Financial planning advice for different types of listenersThe Adviser Talk is available on all popular streaming platforms, including Spotify and Apple Podcasts. Rory O'Neill is a Financial Adviser as well as the Director and General Manager at Stewart Group, a Hawke's Bay and Wellington-based CEFEX-certified financial planning and advisory firm. Stewart Group provides personal fiduciary services, Wealth Management, Risk Insurance & KiwiSaver solutions. The information provided, or any opinions expressed in this show, are of a general nature only and should not be construed or relied on as a recommendation to invest in a financial product or class of financial products. You should seek financial advice specific to your circumstances from an Authorised Financial Adviser before making any financial decisions. A disclosure statement can be obtained free of charge by calling 0800 878 961 or visit our website, www.stewartgroup.co.nz