Episodes
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Why do some IPOs create wealth, while others destroy it? And what can investors learn from the difference?
In this episode, Tim and Nick take a closer look at both global and New Zealand IPO experiences, highlighting the contrast between stable, infrastructure backed investments and high growth, high risk ventures. The discussion reveals how timing, business fundamentals, and investor expectations all play a role in determining outcomes.
But the conversation goes beyond markets. It also tackles a deeper and often overlooked topic, society’s reaction to wealth and success. Why do we celebrate achievement in some areas, yet question or criticise it in others? And what does this mean for how we think about value creation over time?
Bringing together practical investing lessons with broader economic thinking, this episode encourages a shift away from short term thinking and headline driven decisions, towards a more patient, disciplined, and long term approach to building wealth.
(00:00:29) Episode introduction and themes: IPO hype vs wealth creation and envy
(00:01:39) The first IPO in history and lessons for modern investors
(00:03:33) SpaceX valuation and balancing vision with financial reality
(00:03:49) How IPO pricing works and why early volatility occurs
(00:06:25) IPO performance reality: why most underperform the market
(00:09:11) Why investors chase high profile IPOs despite the evidence
(00:10:57) Key IPO insight: understanding who is selling and why
(00:11:07) Why companies go public: liquidity, profile, and raising capital
(00:13:33) Case study comparison: My Food Bag vs Port of Napier IPO
(00:16:23) Investor discipline: due diligence vs fear of missing out
(00:17:55) Portfolio fit and being cautious about IPO exposure
(00:19:24) Shift in discussion: wealth creation, success, and public perception
(00:20:26) What sparked the “envy” article after SpaceX IPO reaction
(00:21:33) Paper wealth vs realised wealth explained
(00:24:48) Envy, perception, and valuing success in society
(00:25:48) Wealth creation impact: how success benefits many people
(00:29:13) New Zealand perspective: focusing on growing the economic pie
(00:33:54) Capital flight and why success needs to be encouraged
(00:36:01) Judging wealth by long term impact, not headline figures
(00:36:59) Andrew Carnegie example and lasting legacy through philanthropy
(00:39:00) Key takeaway: long term thinking, stewardship, and positive mindset
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
Hosted on Acast. See acast.com/privacy for more information.
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When big employers leave a region, the ripple effects last generations.
In this episode, we explore what happens when those risks are not modelled, not discussed, and not planned for at council level.
A direct and local conversation on fiscal accountability, rising rates, and why households cannot absorb endless shocks.
Time stamps:
(00:00:01) Fiscal pressure and public demand for accountability
(00:00:20) Intro and episode overview, Hawke’s Bay fiscal concerns and council response
(00:01:52) Setting the scene, why this topic matters now
(00:02:01) Missing analysis in OIA response, why no modelling is serious
(00:02:19) Rising rates versus inflation, sustainability concerns for households
(00:05:25) Council debt and borrowing for operating costs
(00:09:24) Economic risk of large employer exits and “mini Detroit” analogy
(00:11:41) Household impact of rising rates and limited shock absorption
(00:12:03) Debt levels explained, reduced fiscal headroom
(00:14:22) Budget breakdown, debt servicing and interest burden
(00:15:31) Long term risks of borrowing to fund shortfalls
(00:15:52) Potential council amalgamation and structural change
(00:17:06) Market limits on borrowing and fiscal discipline
(00:17:21) Key questions ratepayers should ask council
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
Hosted on Acast. See acast.com/privacy for more information.
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Missing episodes?
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What can a World War I fighter pilot teach you about investing? The Red Baron built his success on discipline, structure, and stacking the odds in his favour, but lost everything in a single moment of emotion. In this episode, Tim and Nick explore how investors face the same temptations, and why diversification, low costs, liquidity, and rebalancing matter most when markets feel easy. Tune in for a powerful reminder that the biggest risk to your wealth is not the market, it is your behaviour.
(00:01:43) Nick’s fascination with the Red Baron and personal connection
(00:04:16) Core combat rules: stacking odds and disciplined decision making
(00:08:26) Psychological edge: the significance of the red plane
(00:11:51) Investing parallel: diversification as numerical superiority
(00:13:07) Fees, liquidity, and the impact of cost on returns
(00:15:03) Rebalancing and managing behavioural bias
(00:17:09) Facing market downturns with discipline, not emotion
(00:20:47) What led to the Red Baron’s downfall
(00:23:53) Lessons from his downfall: abandoning proven principles
(00:25:17) Final lessons for investors: avoid overconfidence and stick to principles
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 visiting our website, www.stewartgroup.co.nz
Hosted on Acast. See acast.com/privacy for more information.
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What happens when a “sure thing” goes spectacularly wrong? In this episode of AdviserTalk, Tim and Nick unpack Scotland’s disastrous Darien Scheme, a moment when an entire nation bet its future on a single idea. Through this powerful historical story, they explore why high conviction often leads to dangerous concentration, how households repeat the same mistake today, and why resilience, diversification and liquidity matter more than confidence in any one plan.
(00:01:46) Why Scotland’s Darien Scheme felt like a sure thing
(00:02:03) How a single investment led to the loss of Scottish independence
(00:03:49) The original vision to control global trade through Panama
(00:05:01) National pride and why so many people invested
(00:06:58) How much of Scotland’s wealth was really at stake
(00:08:53) The reality on the ground, disease, conflict and isolation
(00:09:36) Collapse of the scheme and national financial ruin
(00:10:55) The household version of the Darien mistake
(00:12:25) Modern examples of over concentration in family wealth
(00:14:02) The key question every investor should ask about risk and resilience
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 visiting our website, www.stewartgroup.co.nz
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
Hosted on Acast. See acast.com/privacy for more information.
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Why do so many investors stick with strategies that feel right, even when the evidence says otherwise? In this episode of Adviser Talk, Tim and Nick use Plato’s allegory of the cave to explain why chasing hot funds, star managers, and market timing is so hard to let go of. They unpack the latest New Zealand SPIVA data, explore how psychology and media keep investors stuck in the shadows, and explain what stepping into the light really looks like in practice.
(00:00:22) Why investors trust familiar stories over evidence and data
(00:01:38) Why this topic matters and why history is relevant
(00:02:07) Plato’s cave explained and how it maps to investor behaviour
(00:05:10) What SPIVA is and what the New Zealand data really shows
(00:06:44) Active vs passive in NZ markets, home turf still underperforms
(00:08:40) Human nature, pattern seeking and why investors believe they can win
(00:09:46) Why trying to beat the market is not investing
(00:10:09) Media influence, clickbait and fear driven financial decisions
(00:11:52) What to look for in a financial adviser, fiduciary duty and independence
(00:13:23) Investing is about behaviour, not intelligence
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.nzThe 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
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
Hosted on Acast. See acast.com/privacy for more information.
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Lost super, KiwiSaver myths, and smarter investing explained simply. In this revisit episode from May 2024, Paula Intercot joins Adviser Talk to discuss transferring Australian super to New Zealand, choosing the right KiwiSaver approach for your life stage, and how complementary investment options can support your financial goals.
Paula breaks down the often-overlooked process of transferring Australian superannuation to New Zealand and maximizing your retirement savings. Whether you're a returning Kiwi with Australian super, looking to optimize your KiwiSaver strategy, or exploring additional investment vehicles, this episode provides practical insights for making smarter money decisions. Paula's expertise shines through as she simplifies complex financial processes and explains how global diversification works within New Zealand-based funds.
Perfect for anyone seeking clarity on retirement planning, investment strategies, or navigating the transfer of overseas superannuation funds.
Note to listeners:
At (00:05:01) Paula discusses the KiwiSaver government contribution and contribution amounts. Please note this episode was recorded prior to recent changes to the government contribution, and the figures mentioned may no longer be current. For the latest eligibility criteria and contribution amounts, we recommend checking official government guidance or speaking with a financial adviser about your individual circumstances.
(00:01:17) What Australian super is and how it compares to KiwiSaver
(00:01:32) Why transferring Australian super to New Zealand can be beneficial
(00:02:05) Clearing up misconceptions about diversification and investment returns
(00:02:25) What happens to your Australian super when you return to New Zealand
(00:03:03) The scale of lost and unclaimed super in Australia
(00:03:24) How Stewart Group helps clients transfer Australian super
(00:03:55) Accessing the Australian portion of KiwiSaver before age 65
(00:04:46) How long the Australian super transfer process usually takes
(00:05:01) KiwiSaver explained and how it works for retirement
(00:06:20) Conservative, balanced and growth KiwiSaver investment options
(00:07:51) What the ACI fund is and how it works alongside KiwiSaver
(00:08:43) When to review your investments and speak to an adviser
Paula Enticott 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 article, 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.nzThe 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
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
Hosted on Acast. See acast.com/privacy for more information.
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For many farming families, the Fonterra payout is more than cash. It is a strategy moment.
In this episode, we unpack why real returns matter, how diversification beyond the farm gate builds resilience, and why independent advice early can change outcomes for decades.
(00:00:15) Intro: Fonterra capital return and why this is a major strategy moment for farming families
(00:01:58) First reaction to a lump sum and why rushing decisions can destroy long-term outcomes
(00:02:44) Lotto winners, squandered wealth and the dangers of unplanned windfalls
(00:03:01) Why farmers need diversification beyond the farm gate
(00:04:32) Guardrails before the money arrives and the value of early independent advice
(00:05:54) Building intergenerational wealth rather than focusing on a single asset
(00:06:26) Headline returns versus real returns once inflation and tax are considered
(00:07:48) Emotional cost of uncertainty, stress, sleep and family decision making
(00:09:24) Risks of reinvesting everything into one asset, even a good one
(00:10:11) Liquidity explained and why accessible capital creates better options
(00:11:48) What quality advice looks like and how to test if advice is truly client first
(00:12:24) Key takeaway: a windfall does not create wealth, a plan does
(00:13:26) Closing thoughts and why planning early leads to long-term confidence
The Adviser Talk is available on all major streaming platforms, including Spotify and Apple Music.
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.nzThe 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
Hosted on Acast. See acast.com/privacy for more information.
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DIY investing is easier than ever, with ETFs and online platforms giving many New Zealanders confidence to manage their own portfolios. Returns can look strong, and progress can feel real, but this episode asks a critical question: Are you actually building wealth once tax is taken into account?
Rory and Tim explore the gap between gross returns and what you keep after tax. They unpack bracket creep, overseas investment tax rules, and why multiple income sources can lead to unexpected outcomes. The discussion highlights why coordination matters, why splitting advice can create blind spots, and how focusing on after tax outcomes helps investors make more intentional long-term decisions.
(00:00:18) Welcome to Advisor Talk: DIY investing rise and the question of actual returns vs perceived success
(00:01:57) Why DIY investing has become popular with New Zealanders over the past decade
(00:02:53) Gross returns vs net returns: What investors naturally focus on and barbecue bragging rights
(00:03:20) Behavioural finance and herding mentality around investment trends
(00:04:04) Tax bracket creep explained: Why it catches people by surprise at tax time
(00:05:04) Cash flow issues from unexpected tax bills and the role of financial advisors
(00:06:04) FIF rules (Foreign Investment Fund): Common misconceptions about overseas investment taxation
(00:07:14) Problems with splitting money across multiple advisors: Tax and advice perspective issues
(00:08:41) Key mindset shift: Working with independent financial advisors for real after-tax wealth
(00:08:54) Russell Investments survey: 4.7% value of financial advice over market returns
(00:09:57) Big takeaway: DIY investing isn't the problem, but the rules have changed
(00:10:47) Final advice: Reach out to independent financial advisors acting as fiduciaries
(00:11:01) Closing: Podcast wrap-up and disclaimer information
The Adviser Talk is available on all major streaming platforms, including Spotify and Apple Music.
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.nzThe 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
Hosted on Acast. See acast.com/privacy for more information.
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When ideology replaces analysis, the locusts arrive.
From sparrow eradication to interest rate shocks, Nick draws parallels between Mao’s disastrous Four Pests Campaign and modern Kiwi property investing. Rising interest rates, disappearing equity, and the danger of doubling down on beliefs instead of data. If you own property or plan to, this conversation matters.
Time stamps:
(00:00:00) Intro: From sparrows to mortgages, setting up the investing analogy
(00:00:58) Crusades, history and modern parallels
(00:02:19) Confidence over competence, modern Kiwi investing mistakes
(00:02:39) The New Zealand property mantra, safe as houses under scrutiny
(00:04:49) Falling equity, negative equity and why mobility disappears
(00:05:39) Mao’s Four Pests Campaign and the war on sparrows
(00:06:38) The unintended consequences, sparrows gone and locusts arrive
(00:07:35) Doubling down on bad ideas, ideology replacing science
(00:08:30) Soviet science, Lysenko and the dangers of false fundamentals
(00:09:34) Debt serviceability and stress testing interest rates
(00:09:36) Yield versus cost and Minsky’s concept of Ponzi finance
(00:10:45) Supply, demand and zoning changes impacting property values
(00:11:55) Demographic shifts, migration and changing buyer demand
(00:13:05) How to avoid being the sparrow killer, testing assumptions
(00:13:45) Wise counsel, ignoring hype and keeping investing grounded
(00:14:10) Closing reflections, fundamentals always win
Nick's book recommendation: Crusades by Dan Jones
Music: One Country – Midnight Oil
The 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.nzThe 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
Hosted on Acast. See acast.com/privacy for more information.
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From bright fishing lures to bold financial claims, this episode reveals why some private offers look irresistible and how retail investors get pulled into high-risk waters without realising it. Tim and Nick shed light on wholesale certifications, liquidity traps, and explore how behavioural biases like greed and familiarity are exploited. Find out the questions every investor should ask before they sign and the simple due diligence habits that protect everyday investors.
(00:01:46) Identifying modern investment lures
(00:02:01) Moving up the risk curve without realising
(00:03:00) Regulator warnings and real-world examples
(00:03:19) Liquidity traps and investor misconceptions
(00:04:54) Behavioural biases in investing
(00:05:39) Return chasing and historical lessons
(00:06:22) Wholesale investor certifications
(00:08:53) Private equity risks and lack of recourse
(00:09:16) Due diligence essentials for private offers
(00:10:41) Recognising too good to be true offers
(00:10:54) Fiduciary standards like Cefex
(00:13:11) Ignoring environmental and insurance risk
(00:13:25) Boringly effective investing habits
Nick's book recommendation: Jerusalem by Simon Sebag Montefiore | Paper Plus
Music: No Telling When The Muttonbirds
The 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.nzThe 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
Hosted on Acast. See acast.com/privacy for more information.
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Life never follows a straight financial line. In this episode, Tim and Rory explore why real money decisions zigzag, how emotion shapes financial choices, and why unexpected twists are a normal part of building long-term resilience. From market dips to surprise expenses at home, they unpack how to create a financial plan that bends with real life rather than breaking under pressure.
(00:00:17) Episode intro, the myth of the straight financial line and why real life never behaves like a tidy plan
(00:02:05) Welcome to guest Rory O'Neill and opening question about unexpected life events that reshape financial direction
(00:03:42) Why plans change, income fluctuations, illness, bonuses and why deviation from a plan is not failure
(00:03:54) How emotional decision making during COVID affected financial plans and why sticking to the plan matters
(00:05:11) Why people confuse unexpected events with poor planning and the importance of resilience in a budget
(00:06:17) The human element in financial decisions such as selling a business or home and adjusting expectations
(00:07:57) The value of the tangled financial line and why ups and downs are normal on the journey to long term goals
The Adviser Talk is available on all major streaming platforms, including Spotify and Apple Music.
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.nzThe 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
Hosted on Acast. See acast.com/privacy for more information.
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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 planning
Nick's book recommendation: Te Maiharoa and the Promised Land by Buddy Mikaere
Music: Silent Lucidity by Queensryche
The 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.nzThe 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
Hosted on Acast. See acast.com/privacy for more information.
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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 management
The 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.nzThe 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
Hosted on Acast. See acast.com/privacy for more information.
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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.nzThe 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
Hosted on Acast. See acast.com/privacy for more information.
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Are we really as wealthy as the headlines claim?
New Zealand recently ranked fifth globally in per capita wealth—but is that just an illusion? In this episode, Tim and Nick unpack why so much of our “wealth” is tied up in property, what that means for financial security, and practical steps to build resilience beyond bricks and mortar.
(00:00:00) Intro: Are we really the fifth-wealthiest nation, or is it smoke and mirrors?
(00:00:36) Why Kiwis feel squeezed despite global wealth rankings
(00:00:49) The Allianz report and New Zealand’s property-heavy balance sheet
(00:03:38) Why housing wealth creates an illusion of security
(00:04:29) The “third age” and risks of poor cash flow in retirement
(00:06:40) Government incentives and our obsession with property
(00:08:07) GDP per capita vs wealth rankings—what’s the real story?
(00:09:57) Why New Zealand’s productivity has lagged for decades
(00:13:30) Export strategy and lack of value-add in key industries
(00:16:02) Practical steps for genuine financial resilience
The 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.nzThe 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
Hosted on Acast. See acast.com/privacy for more information.
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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 automate
The 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.nzThe 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
Hosted on Acast. See acast.com/privacy for more information.
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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 strategy
The 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.nzThe 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
Hosted on Acast. See acast.com/privacy for more information.
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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 diversification
The 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.nzThe 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
Hosted on Acast. See acast.com/privacy for more information.
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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 journey
The 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.nzThe 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
Hosted on Acast. See acast.com/privacy for more information.
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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.nzThe 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
Hosted on Acast. See acast.com/privacy for more information.
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