New FANZ Chair champions inclusive financial advice

A Sāmoan leader with a background in diplomacy and advocacy has taken the helm of New Zealand’s premier financial advice body to build trust, service standards, and cultural responsiveness.

The Financial Advice New Zealand (FANZ) is the largest professional association for financial advisers across the motu, with skills and expertise in mortgages, insurance, and investment sectors.

Timualu Peter Fa’afiu succeeds Heather Roy, who stepped down after four and a half years as FANZ board chair. Speaking with Khalia Strong on Pacific Mornings, Tiumalu says that while he does not come from a financial services background, his appointment strongly focuses on governance and public trust.

He aims to strengthen the financial advice sector by upholding high professional standards, minimising inefficiencies, and expanding cultural responsiveness. He emphasises the importance of cultural competency as customer demographics shift.

Tiumalu points to larger financial advice providers with the resources and diverse customer bases to adapt their services, including investments in cultural competency. He cites organisations like NIB, which work with Māori and iwi groups, as models FANZ seeks to support.

“As we all know, particularly in Auckland, it's very multicultural. That's our customer base, so how do we ensure that our current and future advisors also have the cultural competency to engage with families and aiga in providing advice?

“It’s something we hope to look at in terms of membership organisation. But I also know that our large member organisations also run their own cultural competency workshops and webinars.”

He says Pacific representation within FANZ is supported by members like Jason Venu, the Director of Coversure, and Naomi Ballantyne, anentrepreneur who recently received FANZ’s 2025 Lifetime Achievement Award for her mentorship and efforts to raise standards.

“Like any sector, we need more New Zealanders of Pacific descent to come through in terms of the education system, looking at wealth and the financial services sector as an opportunity to contribute back to their communities and their families.”

Watch Tiumalu Peter Fa’afiu’s full interview below.

Tiumalu also aims to break the myth that financial advice is only for the wealthy. He says financial guidance should “be there from the start until the end of your life”. Tiumalu adds that people do not have to access major financial advisers since many individual financial advisers, who are also FANZ members, provide excellent service at reasonable rates.

“Every New Zealander must understand how the wealth and financial system works. For example, when you receive your first paycheque, you have worked really hard for that, and later on in life, you will continue to work hard.

“Therefore, you need to nurture it, protect your assets, protect your money that's in the bank, and then you need to find a way to ensure that you spread that wealth. Through your generosity, through church or family or challenges back in your homeland.”