What to look for in a financial planner/financial adviser if you want to protect your retirement savings from big market swings - like the Global Financial Crisis (GFC).
Most of us have watched our KiwiSaver balance or investment portfolio dip and felt our stomach drop. When you’re a few years from retirement, that feeling is more than discomfort. A big fall just before (or just after) you stop working can do lasting damage, because you have less time to recover and you’re starting to take money out. For context, in the 2007/2008 Global Financial Crisis (GFC) global share balances fell by more than half, and it took years to recover… Today, in 2026, when inflation is outpacing term deposits people are more readily turning to share markets, many passively and… even the best financial adviser can’t stop markets from moving.
What can you do to protect your retirement savings? Find a good adviser who can review your portfolio and build a strategy so a rough year(s) won’t derail your retirement. Then the adviser can stay focused on your capital preservation while you plan your retirement travel plans. Never had an adviser, or wondering how to find a ‘good one’? Here’s what to look for - some obvious things, and some you might be surprised by. Any questions - let us know.
1. They’re properly licensed, and they show you
In New Zealand, anyone giving financial advice should work for a licensed financial advice provider. Ask for their disclosure statement, which explains who they are, how they’re paid and any conflicts of interest. Then check the firm and adviser on the Financial Service Providers Register. It takes two minutes and tells you a lot.
2. They explain how they get paid, in plain English
You should know exactly what you’re paying and why. Fees, commissions and product payments can all shape the advice you receive. A good planner will lay it out clearly and won’t be offended when you ask. Did they say basis points? 100 bps is 1% - a high price to pay for advice.
3. They talk about your life and goals before they talk about products
Be wary of anyone who leads with a fund or a “safe” investment. A good planner starts with questions. When do you want to stop work? What will you spend each year? Do you own your home? Will you work part time? Your plan should be built around your answers, not a generic portfolio. You are not a ‘balanced’ or ‘conservative’ fund - you are a person with a unique set of preferences and cashflow needs.
4. They understand the real danger: bad timing
Here’s the idea your planner should be able to explain simply. Imagine two retirees with identical savings and identical average returns over 20 years. One hits a market crash in the first few years of retirement. The other hits it near the end. The first retiree can run out of money much sooner, because they were selling investments while prices were down. And timing, with many things, might be out of your control.
5. They have a clear plan for the first years of retirement
You can ask how they’d structure your money so you aren’t forced to sell growth investments during a downturn. Common approaches include keeping one to three years of spending in cash or low-risk investments, and spreading your savings across different types of investments. Ask why they’d choose a particular mix for you, not just what the mix is. Our clients like to have a ‘life forecast’ to play with.
6. They’re honest about the trade-off
Protecting against falls usually means giving up some growth. Playing it too safe has its own risk, because your money has to keep up with rising costs over what could be a 25 to 30 year retirement. A trustworthy planner will talk through both sides rather than promising you high returns with no risk. If someone guarantees it, be cautious. But if an adviser knows a product inside and out and has decades of experience in both advice and investing, let that earn your trust. Top-line risk (average risk) can be less than the sum of its parts - so know the parts.
7. They plan for more than investments
Market swings matter less when the rest of your plan is strong. Look for an adviser who also covers how and when you draw down your savings, your KiwiSaver options, NZ Super, tax, insurance and what you’d do if something unexpected happened.
8. They’ll review your plan regularly
Markets move and so does life. A good planner checks in at least once a year and will tell you when something needs to change, as well as when it doesn’t. Find organisation and reviews boring? Ask when they’ll follow up with you and how they can make it more interesting.
Questions to ask at your first meeting
Are you licensed, and can I see your disclosure statement?
How are you paid?
How would you protect me if markets fell sharply in my first years of retirement?
What would your advice cost me in a typical year?
How often will we review the plan?
Why are you a good fit for me?
What makes this firm special or different from the others?
Talk to us
At Eriksens, our financial advisers help people build retirement plans that can stand up to rough markets. If you’d like to talk it through, get in touch for a no-pressure conversation. Email a.eriksen@eriksensglobal.com - a financial adviser and Director - to set up a meeting time.
This article is general information only and isn’t personalised financial advice. Your circumstances matter, so please speak with a licensed adviser before making decisions. EriksensGlobal is a fully licensed financial advice provider, FSP40147.