John Oliver on Retirement Plans

I recently came across this gem of a segment from John Oliver about retirement plans.

One of the things that this video effectively illustrates is that many participants in the financial services industry are more focused on wealth extraction or distribution (to themselves) than on helping clients achieve their financial and lifestyle goals.

For most people, finance really doesn't need to be difficult but there are incentives to make it seem otherwise.

The clip reinforces the need for high quality, fiercely independent advice. (Does that sound like anyone you know...?)

Sonnie Bailey

Sonnie is the founder and principal of Fairhaven Wealth.

Before founding Fairhaven Wealth, Sonnie worked in the legal and financial services industries for over a decade.

Sonnie first became involved with financial advice as a specialist financial services lawyer. For many years, he was an “adviser of advisers”, reviewing thousands of advice files prepared by hundreds of financial advisers, and providing feedback in relation to the quality and appropriateness of advice; industry best practice; risk management; and regulatory compliance. He has published work in industry publications and spoken at various financial advice conferences.

Sonnie has also worked with banks, investment management firms, insurers, and derivatives providers.

Sonnie has worked as a private client lawyer, focusing on succession, estate planning and trusts. He ran his own legal firm in Australia before relocating to New Zealand. He has also acted in independent trustee and company director positions.

Sonnie is passionate about helping people achieve their goals and manage the risks to which they are exposed.

He has written extensively on his blog, New Zealand Wealth and Risk, which can be found at

Sonnie is married to his wonderful wife Chrissy, and has two young children, Ben and Anna.