INSURANCE ADVISER PROFILE

Technology and the personal touch

Digital tools help Wellington-based adviser Samuel Rees-Thomas spend more time on things that matter.

BY DAWN PICKEN

Forget in-person box-ticking and long questionnaires: Samuel Rees-Thomas prefers more meaningful encounters.

The Wellington-based insurance adviser sees technology as a powerful pathway for forging human connection.

“I’m passionate about using technology to increase time spent on valuable conversations, and to decrease time on administrative tasks which don’t require discussion.”

That’s why his business is 100% paperless. You won’t find massive reports or handwritten forms at Rees-Thomas Financial (RTF).

The firm relies on a few small devices and simple digital tools such as e-signature app DocuSign.

Meetings happen where it’s most convenient for the client: in the office, cafe, video call or via phone. Naturally, they are scheduled via an app (ReesThomas likes Calendly)

Early foundations in finance

Rees-Thomas started his career straight out of Year 13 at Wellington College.

His first full-time job was as a teller at Westpac Lambton Quay, before moving

to Kiwibank’s head office as a customer service representative.

That’s when his father introduced him to two insurance industry professionals he grew to admire.

“The infectious passion of professionals like Peter Standish and Paul Kent inspired me to become an insurance adviser.

“I could see how much their clients benefited from expert advice.”

He says Peter Chote, his boss at another early job (Advice First), was instrumental in helping him learn the business.

In 2010, Rees-Taylor switched from banking to insurance at age 31, remaining with Kiwibank in an outbound sales role.

He says his time in the banking industry provided a foundation for understanding financial services as a whole.

“It also allowed for a healthy juxtaposition between general roles in financial services and specialised advice, which is the space I occupy on a day-today basis.”

He served as a financial adviser and director/manager of a tech advice firm before founding RTF in 2014.

Build trust and listen

Helping people, says Rees-Thomas, is the best thing about his job.

He says insurance advisers must take the time to build trust with clients, to ensure current and future needs are met.

The work requires patience, empathy and excellent listening skills. Insurance advising is not often a space where consultations happen in quarter-hour chunks.

Taking time to listen can lead to cost savings for clients.

Rees-Thomas recounts a time when a young client called to ask about a problem with a bank loan he didn’t understand.

The man visited RTF’s office and showed him a recent online banking transaction for a personal vehicle loan. Fifteen-hundred dollars had been drawn from the loan to cover insurance.

“This young fellow had been unwittingly sold personal loan insurance - but what’s worse, it had been paid for by increasing the loan value by $1500,” he says.

“I was horrified, especially given he had life, health, trauma, disability insurance and income protection through me for around $50 a week.”

Rees-Thomas had his client call the bank and give permission for the adviser to speak on his behalf.

“I went straight to a team leader, who, to his credit, was also horrified, and the young man was refunded instantly.

“It’s little moments like these that are often overlooked in our industry.”

Samuel says his only regret was not lodging a complaint about the bank’s actions to the Financial Markets Authority.

Mentors, mentees, friends & experts

Making connections with other advisers is another part of the job Samuel enjoys.

“I’ve always loved getting to know people.”

Colleagues across the professional service industry have become both mentors and mentees, sources of friendship and education.

Rees-Thomas says he has become increasingly passionate about the importance of good advice in all professions he works alongside, including investments, lending, fire and general insurance, law and accounting.

Seeking experts, and connecting clients to them, has grown his expertise and helped his own career to flourish.

“They say it takes a village to raise a child. Similarly, it takes a village of professionals to ensure the best overall professional services experience for clients.

“When we operate in silos, we miss out on some of the best aspects of our roles.”

Challenges and change

Rees-Thomas keeps current and connected by attending industry events, to learn and to network with other professionals.

He says being part of adviser association Plus4 has been invaluable, as members help inform each other about industry changes.

They also take part in an annual conference, where consultants and compliance advisers outline what’s on the horizon.

“We’re really open about sharing ideas and expertise. A cooperative mentality feeds into the vibe.

“There’s no justification for rivalry in our industry; there’s so few of us and so many potential clients given the state of underinsurance in New Zealand.”

Rees-Thomas wants to help new advisers gain experience, but says the introduction of the New Zealand Certificate in Financial Services Level 5 has been a barrier to entry for junior advisers.

In his view, education itself isn’t the challenge. He says the fact new entrants in the advice space are unable to provide guidance or sell products without the qualification means they cannot quickly generate income for their employers.

“Also, the NZFS Level 5 does not teach a junior adviser how to talk to people, network, market or source leads.”

‘I’m passionate about using technology to increase time spent on valuable conversations, and to decrease time on administrative tasks’

Evolution of customer service

Remote working, which the pandemic has forced upon many of us, has become non-negotiable, says Rees-Thomas.

For him, it’s neither good nor bad, though it comes with challenges.

“How can you provide expert client experience remotely? For someone like me - a tech geek – it was a breeze. But I’m aware that for many in our industry, working remotely may have been tough.”

His observation, after years of experience, is that the financial services industry is poor at seeking tech advice to enhance its overall value proposition.

“There’s real opportunity in this space for some savvy tech entrepreneurs to help our industry evolve, especially with independent financial advice. Equally, there’s a real opportunity for advisers to seek that guidance.”

A peek at RTF’s website shows ReesThomas also invests time and thought into his own marketing efforts.

The home page features a top-heavy, muscle-bound man with chicken legs, along with the question, “Has your insurance plan skipped leg day?”

Arrows pointing at the skinny-legged man give examples of insurance gaffes, including still having heaps of life insurance when the kids have left home and you’re on two incomes, buying cover to see the GP when you never see a GP, and not having non-Pharmac drug cover.

The most important things

Business is cranking for Rees-Thomas these days – but when he isn’t working, he’s usually with his family: wife Julianne and their nearly two-year-old daughter. Another baby is due in March.

Otherwise, you’ll find him playing guitar and leading the worship band at Northern Hills Church in Tawa.

Life is busy, but he is combining his experience and love of technology to save time for the people and activities which matter most. A