Today you’re going to hear from Kendall Flutey. Kendall is the co-founder of the EdTech start-up platform Banqer, a financial training business that works within the school system to deliver education in a gamified manner. We’re also hearing from Kris Ballantyne, the chief marketing officer at Partners Life a fast-growing, Kiwi-based life insurance company.
Today, we’re talking about how private enterprises are working together to ensure the next generation has a deep, default, and durable attitude towards building wealth long term.
Let me ask you a question here though: In the absence of a default financial education program reaching your kids, would you be happy for them to receive guidance from sources in the business community?
Would you trust a bank in delivering some education to your kids, a financial adviser, and insurance company, a KiwiSaver provider or other fund manager? Of course, we’d potentially prefer a source where there was no other incentives at play – BUT, I think having the 'right' incentive structures alone, isn’t enough to create good outcomes. I’m a believer that even in situations where the incentive structures behind some initiatives are skewed towards growing a private enterprise, or even just virtue signalling, good outcomes will still be created. That has to be a good thing right?
The purest of motivation is not a replacement for a lack of action.
I can think of a few great examples recently where the government is reluctant, or even incapable, of allowing private initiatives to fill gaps they clearly have. This is evident at the moment in areas of housing, alternative forms of money, and mental health especially. Either they accept they need a strong [gum]boot up the rear-end, or they step aside with some degree of humility and the let the experts have a go. Yes we do need Government, but the community can indeed solve some problems thank you very much!
In the area of financial education, I’m super encouraged to see the likes of the FMA, and the Commission for Financial Capability, really starting to infuse themselves in the market place. Still, there’s a place for for more participants who work in the finance space to organise themselves in a way that solves the problem also.
To learn more about how Banqer and Partners Life is working together, check out https://high.banqer.co/partners-life
The NZ Everyday Investor is brought to you in partnership with Hatch. Hatch, let's you become a shareholder in the world's biggest companies and funds. We're talking about Apple and Zoom, Vanguard and Blackrock.
So, if you're listening in right now and have thought about investing in the US share markets, well, Hatch has given us a special offer just for you... they'll give you a $20 NZD top-up when you make an initial deposit into your Hatch account of $100NZD or more.
Just go to https://hatch.as/NZEverydayInvestor to grab your top up.
Like what you’ve heard?
You can really help with the success of the NZ Everyday Investor by doing the following:
1- Follow the NZ Everyday Investor on Clubhouse.
2- Write a review on Facebook, or your favourite podcast player
3- Help support the mission of our show on Patreon by contributing here
4- To catch the live episodes, please ensure you have subscribed to us on Youtube:
5- Sign up to our newsletter here
6-Tell your friends!
NZ Everyday Investor is on a mission to increase financial literacy and make investing more accessible for the everyday person!
Please ensure that you act independently from any of the content provided in these episodes - it should not be considered personalised financial advice for you. This means, you should either do your own research taking on board a broad range of opinions, or ideally, consult and engage a financial adviser to provide guidance around your specific goals and objectives.
If you would like to enquire around working with Darcy (financial adviser), you can schedule in a free 15 min conversation just click on this link