PROFILE By Susan Edmunds
Severn keeps on rolling... Rod Severn wants a bolder approach from his members as he tries to increase financial literacy.
N
ew Professional Advisers Association chief executive Rod Severn admits he approached his new job with a bit of anxiety and trepidation. He was new to the industry, relatively new to the country and wasn’t sure how he’d be welcomed by the 1200-strong membership of the association. But he says he needn’t have worried. Being an outsider coming in has been seen as a benefit rather than a hurdle and he’s been warmly welcomed by advisers around the country. Many pointed out that it was good to have someone with a fresh perspective in a key role. Severn came to the PAA top job from Smartpay, where he was chief operating officer. Before that, his career was in Australia, in senior management in organisations mainly operating in the IT arena. “The largest had $150m turnover and 135 staff members and I was responsible for all of that, it kept me busy. I have been a sales director and chief operating officer here,” Severn said. He was approached about the PAA job by a board member and decided to put his hand up. “It stacked up and I got the role. It’s been terrific, I’ve been warmly welcomed to not only the PAA but the industry as a whole.” Severn has been travelling the country,
028
talking to advisers at a series of meetings and roadshows. He says he’s been impressed by the passion he has seen so far from the industry. A key focus for the PAA at the moment is its learning and development offering. “There’s huge scope for myself and the PAA to get involved with a range of opportunities and platforms we want to take forward to members. We’re broadening the content and accessibility of our learning and development offerings.” He says the PAA will offer 35 to 40 structured credits over the next two years so members can pick and choose what works for their businesses. Under the new code of professional conduct for authorised financial advisers, they have to complete 30 hours over two years. “We’re increasing our business value-add for members,” Severn says. “Advisers can choose what they do for their 30 but it will all be from the one place.” Severn said the PAA would also offer training that would not count as structured hours but would help advisers improve the performance of their businesses, such as IT courses and sales tips. “Members may struggle to get that elsewhere.” There is a growing role for financial advice in New Zealand, Severn says, as KiwiSaver balances grow and people take more interest in their investments.
❝ I use a quote from our chairman ‘if you think a professional is expensive, wait until you try an amateur’. I think that’s a great tagline. ❞
NOT AWARE “You can get [products] online but it’s not going to give that knowledge you need. The younger generation join organisations and get KiwiSaver but they’re not aware of where
