This article on Good Returns by Susan Edmunds says ‘AMP estimated fewer than 1,000 AFAs were practising and a smaller number specialised in things such as discussions about retirement and decumulation.’
Blair Vernon from AMP stated 15% of his adviser force were over 65 and that would rise to 30% by 2020. “They are unlikely to be available to help New Zealanders. That’s an industry issue to confront because most of the products we talk about genuinely need advice. We have got to figure out the issue of supply but I see a very narrow pipeline of that for some time. It could be a 10- to 30-year issue given what we see in the industry and how many are about to leave.”