The Adviser Talk

In this special Waitangi edition of The Adviser Talk, Tim and Nick explore what a 149-year journey toward resolution can teach us about how we show up in our financial lives today.Drawing on the remarkable story of Ngāi Tahu, they uncover how generations carried the weight of grievance, how internal division weakened an otherwise formidable iwi, and how unity, pragmatism and forward thinking ultimately sparked extraordinary regeneration. From an infamous dog skin cloak feud to the full and final settlement that allowed Ngāi Tahu to move from loss into long-term growth, this episode looks at why the past matters, but also why staying anchored to it can quietly erode wellbeing, opportunity and financial resilience. Tim and Nick connect these powerful historical lessons to the modern decisions families, investors, and business owners face every day, especially when emotions run high. At its heart, this conversation is about choosing where to invest your energy. Whether navigating an inheritance dispute, a business breakdown or a long-held sense of imbalance, the Ngāi Tahu story offers a blueprint for letting go of what no longer serves you, coming together with clarity and purpose and building a future that compounds in your favour for generations. (00:00:00) Intro: Tim opens the Waitangi special; context of Waitangi Day, Ngai Tahu, and the value of moving forward(00:01:18) Ngai Tahu grievance begins: Nick explains the Kemp Deed, £2,000 payment and 149 years of grievance(00:02:47) Dialect and pronunciation: Nick explains saying Kai Tahu vs Ngai Tahu(00:02:59) The dog skin cloak feud: Nick recounts Te Maiharanui, the family feud and its generational consequences(00:05:20 approx.) Internal division and Ngāti Toa attacks: How division weakened Kai Tahu before Te Rauparaha arrived(00:06:12) Te Kerēme — The Claim: The broken promises, missing reserves, hospitals and schools(00:09:16) Settlement lessons: Ngai Tahu’s strategic choice to settle for $170m and move forward(00:09:53) Balancing principle and future: Navigating grievance vs financial wellbeing(00:10:20) Emotional and financial cost of unresolved disputes: Stress, bandwidth, and stalled progress(00:11:35) Psychological shift: How Ngai Tahu became a governance model for other iwi(00:11:36–00:15:30) Modern NZ context: New migrants, national reflections, and choosing growth over grievance(00:15:58) Closing reflections: Lessons of Ngai Tahu for personal, whānau and financial planningNick's book recommendation: Te Maiharoa and the Promised Land by Buddy MikaereMusic: Silent Lucidity by QueensrycheThe Adviser Talk is available on all major streaming platforms, including Spotify and Apple Music.Nick Stewart (Ngāi Tahu, Ngāti Huirapa, Ngāti Māmoe, Ngāti Waitaha) 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

Thinking of ditching insurance for a DIY 'stash away the premiums' approach? Self-insurance sounds smart, but is it really? In this episode, Tim and Nick unpack why skipping cover can backfire, the behavioural biases that trip us up, and why integrating risk management into your financial plan is essential for long-term security.(00:00:00) Intro: What is self-insurance and why it sounds appealing(00:00:57) Nick explains the concept and why people consider it(00:03:38) Inflation and rising costs make self-insurance risky(00:05:38) Behavioural biases: present bias and optimism bias(00:07:39) Why transferring risk to an insurer matters(00:09:35) Nick’s real-life claims story(00:11:02) $18,000 car repair and the ripple effect(00:11:30) $1.20 washer leads to $55,000 home damage(00:12:34) $28,500 medical costs(00:13:55) Why self-insuring would have failed in this scenario(00:15:54) The importance of holistic financial planning and insurance(00:18:10) Closing thoughts: seek advice and integrate risk managementThe 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

What do you consider your biggest asset, and is it covered?Featuring Tim Ewan, Risk Insurance Manager at Stewart Group, we discuss the significance of income protection insurance for New Zealanders, the limitations of ACC, and the roles of different types of personal insurance.Tim explains why income protection is vital, how trauma and TPD cover work, the impact of non-accidental conditions, and practical steps for choosing the right cover.Tune in now and ensure you are covered where it matters most. Important Time Stamps(00:02:03) Why income protection insurance is important for everyday New Zealanders.(00:03:23) ACC coverage explained, and its limitations compared to private income protection.(00:04:37) Overview of personal insurance types: life, trauma, TPD, and income protection.(00:08:12) The impact of insurance events and why planning ahead matters.(00:09:10) How insurance payouts can relieve stress and aid recovery.(00:10:05) ACC statistics: non-accidental conditions, workdays lost and how income protection fills gaps not covered by ACC.(00:12:35) First steps for people considering insurance: importance of good advice, regular insurance reviews and claiming when eligible.(00:16:00) Final thoughts: protecting your income and choosing the right cover.The Adviser Talk is available on all popular streaming platforms, including Spotify and Apple Podcasts. Tim Ewen is a Risk Insurance 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 visiting 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