Navigating Change NATIONAL CONFERENCE. Hilton Hotel, Auckland 7 8 September 2017 DELEGATE EVALUATION REPORT

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1 NATIONAL CONFERENCE Hilton Hotel, Auckland 7 8 September 2017 DELEGATE EVALUATION REPORT

Welcome, Thank you for your support of the inaugural Financial Services Council and Workplace Savings NZ national conference.

The event was organised and delivered at a professional standard and proved to be a high-calibre conference in the financial services industry.

The Navigating Change conference was a collaborative effort and meant many months of planning, coordination and organisation.

2 Welcome, Thank you for your support of the inaugural Financial Services Council and Workplace Savings NZ national conference. It is fair to say that our first joint conference, based on your feedback, was an outstanding success and one that we are exceedingly proud of. The event was organised and delivered at a professional standard and proved to be a high-calibre conference in the financial services industry. It has certainly set a high bench mark for our future conferences and we will aim to exceed what was a highly successful event. The Navigating Change conference was a collaborative effort and meant many months of planning, coordination and organisation. The success of the conference is testament to the people who contributed to this. The conference programme featured standout speakers for the workshops, panel and main platform sessions. We are grateful to all our speakers for their contribution and stellar presentations, to help make the conference a success. We also must pay thanks to our many and supportive sponsors. Without their generous support we could not have delivered such a high-level conference. Feedback on the conference has been exceptional. We would like to thank the delegates for their participation and welcome feedback. David Biegel Chairman Workplace Savings NZ Rob Flannagan Chairman Financial Services Council 2

Platinum Sponsors Gold Sponsors Silver Sponsors Gala Dinner Sponsor Workplace Savings Awards Media Supporters

3 OUR PARTNERS The Financial Services Council and Workplace Savings NZ would like to take this opportunity to thank all of our generous sponsors who supported the 2017 Navigating Change national conference. Platinum Sponsors Gold Sponsors Silver Sponsors Gala Dinner Sponsor Workplace Savings Awards Media Supporters Breakfast Masterclass Women in Super In association with Breakfast Masterclass Portfolio Construction In association with 3

INTRODUCTION The Navigating Change conference was the inaugural joint Financial Services

The two day conference took place on 7 and 8 September 2017 at the Hilton Hotel in

This report outlines the results of an evaluation survey completed by delegates at the

Over the course of the two-day conference, delegates were given opportunities to complete

Post-conference, delegates were given further opportunities to email the evaluation forms

4 INTRODUCTION The Navigating Change conference was the inaugural joint Financial Services Council (FSC) and Workplace Savings NZ (WSNZ) national conference. The two day conference took place on 7 and 8 September 2017 at the Hilton Hotel in Auckland, New Zealand. This report outlines the results of an evaluation survey completed by delegates at the Navigating Change conference. Over the course of the two-day conference, delegates were given opportunities to complete and return hard copy forms at the conference. Post-conference, delegates were given further opportunities to the evaluation forms to FSC/WSNZ conference organisers. The purpose of the evaluation survey was to measure delegate satisfaction with the conference and collect information that will assist with the organisation of future FSC/WSNZ events and conferences. Information collected was both quantitative and qualitative. 4

DELEGATES The Navigating Change conference,

Hotel in Auckland, was attended by a total

largely from the financial services sector

5 DELEGATES The Navigating Change conference, held on 7-8 September 2017 at the Hilton Hotel in Auckland, was attended by a total of 309 delegates, of which over 30% were female. The target audience and delegates were largely from the financial services sector across New Zealand. Delegate numbers per category were as follows: At Conference Total Delegate 202 Delegate / Speaker Speakers Media Exhibition Staff Staff Total 309 5

DELEGATES Age group comparison for Navigating Change 2017 conference survey results: Age Group Total % 30 & under 3 31 40 41 50 51 60 60+ 18 37 29 13 HOW DELEGATES HEARD ABOUT THE

platforms for the conference. In the Other category, survey results indicated that delegates had heard about the conference by email.

6 DELEGATES Age group comparison for Navigating Change 2017 conference survey results: Age Group Total % 30 & under HOW DELEGATES HEARD ABOUT THE CONFERENCE Heard about conference Total % Word of mouth 32 Media Website Social Media Other Results indicate the Word of Mouth, Website and Other were the main advertising platforms for the conference. In the Other category, survey results indicated that delegates had heard about the conference by . In the several months leading up to the conference, the Navigating Change conference had been advertised and highlighted in the quarterly newsletters ed to FSC and WSNZ members and the /website-based FSC Your Wealth newsletter. 6

AT CONFERENCE At the conference Average rating % Quality of presentations 4.18 83.

and topic relevance, and also rated the customer service experience at the conference extremely high.

Although the qualitative data for the venue indicates a slight level of dissatisfaction with the

7 AT CONFERENCE At the conference Average rating % Quality of presentations Relevance of presentations Coverage of topics Meeting expectations Total average Delegates in the evaluation survey highly rated the conference presentations, in terms of quality and topic relevance, and also rated the customer service experience at the conference extremely high. In general, the conference organisation set up and venue received well above average results. Although the qualitative data for the venue indicates a slight level of dissatisfaction with the venue size and seating arrangements. Experience Average rating % Customer service Organisation and set-up Food and catering Exhibition area Total average

GENERAL FEEDBACK Delegates were asked for qualitative responses for general feedback on

WHAT WERE THE THREE BEST THINGS ABOUT THE CONFERENCE?

speakers and topics covered in the conference.

8 GENERAL FEEDBACK Delegates were asked for qualitative responses for general feedback on four questions relating to general aspects about the conference. 1. WHAT WERE THE THREE BEST THINGS ABOUT THE CONFERENCE? Conference delegates overall thoroughly enjoyed the conference and many positive comments were received. In particular, delegates highlighted that the conference was an invaluable networking opportunity. Almost half of the survey evaluation comments spoke of the quality and breadth of the speakers and topics covered in the conference. Both speakers and topics were praised for their variety and interest levels. The outstanding efforts, high quality and professionalism of the conference organisation were also a standout trend amongst the evaluation survey comments. Top Four Trends % Breadth of topics 29 Great speakers Networking Conference organisation

GENERAL FEEDBACK 1. WHAT WERE THE THREE BEST THINGS ABOUT THE CONFERENCE?

Quality of some of the panel Collaboration Political access/support Energy Topics broad and relevant Steven Joyce Networking with peers

Hearing from inspiring speakers Speaker/panel quality Loved the backpacks Organisation superb Food Good coverage of a range of issues

9 GENERAL FEEDBACK 1. WHAT WERE THE THREE BEST THINGS ABOUT THE CONFERENCE? Lots of variety Relevance to my position as LIT Good to have the workshops Excellent quality Very professional Great variety of speakers Quality of some of the panel Collaboration Political access/support Energy Topics broad and relevant Steven Joyce Networking with peers Covered the issues that matter Extremely clear Meeting fascinating people Quality of speakers The sessions Relevant topics Topics insurance Hearing from inspiring speakers Speaker/panel quality Loved the backpacks Organisation superb Food Good coverage of a range of issues Excellent choice of speakers Excellent organisation Venue (apart from very hard seats) Very topical discussion on all topics relating to FMA legislation The discussion around the future of the industry and how things can be done better 9

content Excellent hosts and MC, giving great atmosphere Good variety of topics Sufficient content for all disciplines and interests Passionate speakers from a range of backgrounds Finance

material The panels Gala dinner Having three workshop streams Technical updates Diversity of thought Market updates The industry celebrated itself keen to see these events grow Calibre of

10 GENERAL FEEDBACK 1. WHAT WERE THE THREE BEST THINGS ABOUT THE CONFERENCE? Engaging variety of topics Speaker quality was good nice to see some Location was good politicians there Two industry groups Steven Joyce was interesting and entertaining Breadth of content Excellent hosts and MC, giving great atmosphere Good variety of topics Sufficient content for all disciplines and interests Passionate speakers from a range of backgrounds Finance spokesmen Good length of two days Awards / Gala Dinner Political party aspects Steve Joyce Very well run and diversified content Grant Robertson Focussed workshops with specialist material The panels Gala dinner Having three workshop streams Technical updates Diversity of thought Market updates The industry celebrated itself keen to see these events grow Calibre of speakers A forum to ask and answer relevant questions Political (Finance spokesmen) As a sponsor, an opportunity to engage with the Diverse range of speakers industry Forward thinking sessions Very informative sessions with excellent Quality of speakers was good, especially outside panellists e.g. Mike Woodbury 10

GENERAL FEEDBACK 2. WHAT WOULD YOU DO TO IMPROVE THE CONFERENCE?

Although the venue did receive positive praise in the evaluation survey results, the venue also received significant criticism.

The seating and seating arrangements at the venue were also criticised.

There was a general feel for more audience involvement and discussion. Several delegates in the evaluation survey highlighted timing issues.

11 GENERAL FEEDBACK 2. WHAT WOULD YOU DO TO IMPROVE THE CONFERENCE? Delegates gave a wide range of constructive criticism with suggested improvements for the conference. Although the venue did receive positive praise in the evaluation survey results, the venue also received significant criticism. Comments on the venue were mainly around the small venue in comparison to delegate numbers. The seating and seating arrangements at the venue were also criticised. Other improvements suggested more delegate participation and engagement with the workshops and panels. There was a general feel for more audience involvement and discussion. Several delegates in the evaluation survey highlighted timing issues. Many felt improvements could be made with allocating more time to sessions, especially the spotlight series. Other timing issues and programme issues suggested starting the conference later on the second day. It is also noteworthy to add that a sizeable amount of delegate comments indicated that the conference did not need improvements. Improvements Top Five Trends % Venue seating and layout 24 Topic focus Timing issues No improvements needed Participation / interaction

MC De-couple from insurance Create debate e.g. compulsory super WSNZ-specific Have more discussion, working groups etc.

Fewer panel discussions Sound for Dinner needed improving More workshops for specific industry sectors Seats were uncomfortable / too hard Breakfast on Day One Venue too long and thin Less panels

12 GENERAL FEEDBACK 2. WHAT WOULD YOU DO TO IMPROVE THE CONFERENCE? Online feedback forms No customer-centric look and direction An award for best PDS is a little pretentious More workplace representation at Government Gala Dinner felt a bit formal, needed a better MC De-couple from insurance Create debate e.g. compulsory super WSNZ-specific Have more discussion, working groups etc. A couple of international speakers Most sessions were very one-way communication In danger of being too introspective More engagement and open group conversation Better seating not enough tables Fewer panel discussions Sound for Dinner needed improving More workshops for specific industry sectors Seats were uncomfortable / too hard Breakfast on Day One Venue too long and thin Less panels especially on Main Platform Not enough tables for lunch Would ve preferred 4 5 high quality speakers Bigger room Time management of panel speakers Music too loud at dinner Some sessions provided little or no question time Facility could be larger Wanted to hear more from Bernard del Rey Breakout Room #3 was too small The 5 minute Spotlight sessions were too quick Main platform stage didn t reach far side Time between conference and Awards Dinner of the room More on global / NZ investing Less peripheral stuff Feedback on venue was that we were short of space Ask people to keep phones in pockets during the sessions Later start on Day Two 9.30am? Longer Spotlight sessions 12

13 OUR SPEAKERS 13

The two dominant industry suggested issues related to the New Zealand market and customer focus.

14 GENERAL FEEDBACK 3. WHAT ARE THE MAJOR INDUSTRY ISSUES THAT YOU WOULD LIKE TO SEE COVERED AT FUTURE CONFERENCES AND EVENTS? Delegates suggested a variety of industry issues they would like to see at future FSC/WSNZ run conferences and events. The two dominant industry suggested issues related to the New Zealand market and customer focus. There was also a substantial interest in industry issues to address technology and disruption. Delegates also were keen to see KiwiSaver/super and legislation and regulation issues feature in future events. Industry Issues Top Five Trends % Customer focus 17 NZ market Legislation / regulation KiwiSaver / super Technology / disruption

Engagement with regulators Aligning incentives with best interest of client Different ways of thinking More on NZT global economy Customer,

coming from Steps on collaboration across industry International lessons and insights Decumulation Impact of regulation Restricted schemes

15 GENERAL FEEDBACK 3. WHAT ARE THE MAJOR INDUSTRY ISSUES THAT YOU WOULD LIKE TO SEE COVERED AT FUTURE CONFERENCES AND EVENTS? International trends Value for the customer Push for compulsory super is critical Code of Conduct Collaboration between competitors Engagement with regulators Aligning incentives with best interest of client Different ways of thinking More on NZT global economy Customer, customer, customer Legislation Customer user interface Regulation and compliance under insurance Government political views Where growth is coming from Steps on collaboration across industry International lessons and insights Decumulation Impact of regulation Restricted schemes Seemed all things were covered Interaction with FMA Being customer-centric How the industry can better support employers Education and capability Customer centricity 15

financial services industry, spotlight on positive and Continued focus negative changes More FinTech topics How to make it easier for consumer to get Responding to change

16 GENERAL FEEDBACK 3. WHAT ARE THE MAJOR INDUSTRY ISSUES THAT YOU WOULD LIKE TO SEE COVERED AT FUTURE CONFERENCES AND EVENTS? Regulatory happenings Successes of FSC / WSNZ More balanced content around non-adviser Personal development channels More digital content from actual innovators Super / KiwiSaver Overview of submissions make (i.e. way to Global impact issues reflect on previous year) Wholesale managed funds/unit trusts/fees With the continuing evolution of the financial services industry, spotlight on positive and Continued KiwiSaver focus negative changes More FinTech topics How to make it easier for consumer to get Responding to change tech, product, appropriate insurance cover legislation Sustainability how to grow financial literacy Future of financial advice in NZ for Kiwis, disruptor trends Changing customer demographics Probably didn t address the gender pay gap Technological changes in the industry enough and how this affects savings for women Investment Continue financial literacy Under insurance of New Zealanders 16

GENERAL FEEDBACK 4. WHAT ELSE CAN THE FSC AND WSNZ BE DOING TO REPRESENT THE INDUSTRY?

that the FSC and WSNZ could be doing to represent the industry.

17 GENERAL FEEDBACK 4. WHAT ELSE CAN THE FSC AND WSNZ BE DOING TO REPRESENT THE INDUSTRY? Qualitative feedback from the evaluation survey encompassed a wide variety of suggestions and improvements that the FSC and WSNZ could be doing to represent the industry. A significant amount of comments related to the need for more customer engagement and availability of information. Comments indicated suggestions for more submissions/legislative work and a higher degree of Government involvement and continued lobbying. Numerous comments related to the need to enhance the profile of FSC/WSNZ. Finally, delegates commented on more opportunities in FSC/WSNZ run events and training. FSC / WSNZ What else can we do? Top Five Trends % Lobbying Government involvement 17 Enhance profile Customer engagement / information Events / training Legislation / submissions

on 5 key pieces of information More workplace representation in Government being delivered to customers Promoting plain English documents Looking at similar marking thing like the More regional

18 GENERAL FEEDBACK 4. WHAT ELSE CAN THE FSC AND WSNZ BE DOING TO REPRESENT THE INDUSTRY? Higher public profile Lobby Government etc. Continue to have media voice More of the same continue to engage key Promote savings & insurance education in schools influencers Consumer engagement to lift trust in industry Industry forum to tackle key isues e.g. adviser transition and working groups Engage with communities Keep doing what you do with lobbying, but Role model perhaps more on solving financial literacy Think about less privileged Pickup insist on 5 key pieces of information More workplace representation in Government being delivered to customers Promoting plain English documents Looking at similar marking thing like the More regional training and development events Electoral Commission i.e. the orange guy, a Be customer centric simliar gimmick to promote KiwiSaver More one-off seminars on current topics Continue with public releases and research Greater interaction around submissions on importance of insurance / investment / retirement provision (more than National Super More on legislative changes and effects of required) More enthusiastic board members like David Boyle Financial literacy for younger generation is so More of the same important How do we address this? Annual conference half-day Continue co-operation in building trust through Submissions: Breakfast sessions public communication More of the last 12 months Involve politicians in these events more (not just regulators) Awareness 18

GENERAL FEEDBACK MAIN PLATFORM / KEYNOTE SPEAKERS Conference attendees gave very positive feedback and ratings for all of the main platform/

Attendance at the main platforms and key note speakers was high and this reflected in a high response rate in evaluation feedback.

They were asked to rate keynote speakers on the relevance and value of the sessions and the content presented.

60% / 2 = 40% / 1 = 20%.) Main Platform / Keynote Speaker Session Rating Average 1-5 Rating % Hon. Steven Joyce Main Platform 4.18 83.

19 GENERAL FEEDBACK MAIN PLATFORM / KEYNOTE SPEAKERS Conference attendees gave very positive feedback and ratings for all of the main platform/ keynote speakers were well above average. Attendance at the main platforms and key note speakers was high and this reflected in a high response rate in evaluation feedback. (Delegates were asked to rate the seven main platform/keynote speakers on a 5 point scale (1-5) with 1 being considered poor and 5 excellent. They were asked to rate keynote speakers on the relevance and value of the sessions and the content presented. These scores were then equated to a percentage to show the attendee s satisfaction rating for that item as follows: 5 = 100% / 4 = 80% / 3 = 60% / 2 = 40% / 1 = 20%.) Main Platform / Keynote Speaker Session Rating Average 1-5 Rating % Hon. Steven Joyce Main Platform Panel 1 KiwiSaver Ten Years On Panel Panel 2 Consumer of the Future Panel Lisa King Main Platform Grant Robertson Main Platform Panel 3 Culture, Conduct & Consumers Panel Murray Thom Main Platform Total Average of Sessions

GENERAL FEEDBACK SPOTLIGHT / MASTERCLASS SERIES The spotlight/masterclass series

In qualitative feedback, the spotlight series were well received and there were

Attendance rates were less that the main platform/key note speakers and this reflects

Speaker Session Rating Average 1-5 Rating % Bernard del Rey Spotlight Investment Risk 4.

20 GENERAL FEEDBACK SPOTLIGHT / MASTERCLASS SERIES The spotlight/masterclass series received high ratings, praise and positive feedback. In qualitative feedback, the spotlight series were well received and there were suggestions for longer spotlight sessions in the future. Attendance rates were less that the main platform/key note speakers and this reflects the lower response rate in feedback. Speaker Session Rating Average 1-5 Rating % Bernard del Rey Spotlight Investment Risk Louise Webster Spotlight Innovation Ian Fletcher Spotlight Cyber Security Trish Sherson Masterclass # Graham Rich Masterclass # Total Average of Sessions

GENERAL FEEDBACK WORKSHOPS There were three workshop streams Investment, Insurance and Fintech. There were four workshop sessions with each of the workshop streams running a session.

21 GENERAL FEEDBACK WORKSHOPS There were three workshop streams Investment, Insurance and Fintech. There were four workshop sessions with each of the workshop streams running a session. Twelve workshops in total. As the four workshop sessions ran at the same time, it was not possible for the delegates to attend all twelve sessions. Evaluation forms collected data from consenting delegates for a maximum of four out of the possible twelve sessions. All three workshop streams rated highly in the evaluation form survey. Results range from average to above average. Attendance levels across the streams differed and this reflects in the varying evaluation response rate. There was a significant difference in room size, with the investment stream being hosted in the smallest room, although it proved very popular and beyond the room capacity. Workshop Stream Rating Average 1-5 Rating % Workplace Schemes Investment Driving Member Engagement in KiwiSaver Where to From Here? Fund Trustees & LITs Session The Impact of Medical Technology on Future of Insurance Insurance The Future of Distribution in a post-faa World Building Sustainability in a Changing World The Changing Environment of Underwriting & Claims Trends The Art of the Possible FinTech Technology Doesn t Innovate, People Do Lessons to be Learnt after WannaCry Data Are Coming Total Average of Sessions

PRE-CONFERENCE PRE-CONFERENCE EXPERIENCE The survey results indicate that delegates overall

From qualitative results there were several comments about the lack of AMEX card payment

Conference organisers will investigate having this option for future conferences.

22 PRE-CONFERENCE PRE-CONFERENCE EXPERIENCE The survey results indicate that delegates overall experienced an above average satisfaction rating. From qualitative results there were several comments about the lack of AMEX card payment facilities with the registration process. Conference organisers will investigate having this option for future conferences. Pre-conference Average rating % Availability of information Website usability and content Ease of registration Customer service pre-event Conference value Total average

23 THE AWARDS FINANCIAL SERVICES COUNCIL AWARDS AWARD CATEGORIES Rising Star Award For an individual who has shown tangible growth and development over the previous 12-months, making a real difference to the industry while early in their career. Innovation Award For an individual who has proactively taken the initiative to lift professionalism in the industry by addressing a big industry issue or industry challenge. Shaping the Future Award For an individual who has consistently demonstrated industry leadership, proactively advocating for market change and a future focus. Diversity Award For an individual who walks the talk when it comes to diversity. A person who is passionate about making a difference on any aspect of diversity both within and beyond the workplace. Category Nominee Company / Winner Rising Star Award Jenn Dobinson AMP Kris Ballantyne Partners Life Limited Mark Daniels Fidelity Life Winner Innovation Award Karen Sheirlinck AMP Peter Lassen Partners Life Limited Rachael MacDonald AMP Winner Tim Sutherland ANZ Wealth Shaping the Future Award Jason Moss Westpac New Zealand Limited Russell Hutchinson Chatswood Consulting Limited Winner Sean Kam Partners Life Limited Diversity Award Ana-Marie Lockyer ANZ Winner Brynlea Hunter-Morpeth AIA New Zealand Hayden Jonas Partners Life Limited 23

24 THE AWARDS AWARD WINNERS 24

25 THE AWARDS WORKPLACE SAVINGS AWARDS AWARD CATEGORIES Product Disclosure Statement (PDS) of the Year For the best product disclosure statement by a corporate, master trust, industry or KiwiSaver scheme. Most Innovative Communication For the most inspiring communication in 2016/17. A change that has made a true difference to consumers and the industry. Best Overall KiwiSaver Member Experience For the best consumer experience on a KiwiSaver product, communication or service. Excellence in Communication Overall winner demonstrating simple, easy-toread, consumer-focussed communication. Category Campaign Company / Winner PDS of the Year ASB KiwiSaver Scheme PDS Westpac KiwiSaver Scheme ASB Westpac New Zealand Limited Winner Most Innovative Communication Picture Your Retirement AMP Essentials ANZ KiwiSaver MTC Mercer AMP Financial Services ANZ New Zealand Investments Limited Winner Annual Report Generate KiwiSaver Survey New Zealand Post Superannuation Plan Generate KiwiSaver Fuel Tank MTC Communications Westpac New Zealand Limited Best Overall KiwiSaver Member Experience Your Guide to the ANZ KiwiSaver Scheme ANZ New Zealand Investments Limited AMP Welcome Pack AMP Financial Services Grosvenor Financial Services Group Rebrand Booster Financial Services Limited Future You Kiwi Wealth Limited Winner Smart Steps to Retirement Success Mercer Best Overall Communications Generate KiwiSaver Excellence in Communication Future You Kiwi Wealth Limited Winner 25

26 THE HIGHLIGHTS COCKTAIL FUNCTION 26

27 THE HIGHLIGHTS THE GALA DINNER 27

28 THE HIGHLIGHTS THE GALA DINNER 28

29 THE HIGHLIGHTS THE GALA DINNER 29

30 THE HIGHLIGHTS THE GALA DINNER 30

31 THE HIGHLIGHTS EXHIBITORS 31

32 THE HIGHLIGHTS EXHIBITORS 32

33 A THANK YOU THE CONFERENCE TEAM Finally, a huge shout out to the conference committee who created, ran and produced the conference. Rob Flannagan David Biegel Noah Schiltknecht Ana-Marie Lockyer Tim McGuinness Mike Woodbury Yvonne Davie Mark Daniels Mark Banicevich Rachel Douglas Haydee Stroud Richard Klipin 33

34 Navigating Change navigatingchange.co.nz

Navigating Change CONFERENCE NATIONAL UP TO 10 CPD HOURS AVAILABLE CELEBRATING. Hilton Hotel, Auckland 7 8 September 2017 OF KIWISAVER

Navigating Change CONFERENCE NATIONAL UP TO 10 CPD HOURS AVAILABLE CELEBRATING. Hilton Hotel, Auckland 7 8 September 2017 OF KIWISAVER Navigating CONFERENCE NATIONAL Hilton Hotel, Auckland 7 8 September 2017 UP TO 10 CPD HOURS AVAILABLE 10 CELEBRATING YEARS YO OF KIWISAVER Navigating Welcome Welcome to the inaugural Financial Services