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<\/p>\nFormer AIA NZ head Jack Newman is striking out on his own and has launched Lucid Advice, a Hillcrest-based firm focusing on life, health, personal and business insurance. <\/p>\n
Wednesday, September 3rd 2025, 6:00AM <\/p>\n
by Ksenia Stepanova<\/p>\n
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Jack Newman, Lucid Advice<\/p>\n
The firm launched in the last week of July. Newman says the heart of the business is \u201cmum and dad, four kids and a mortgage,\u201d and one of its main targets is to help other local families with their cover.<\/p>\n
Newman has 15 years in the industry, and was formerly head of aligned advice at AIA NZ where he ran the insurer\u2019s FAP license. The new business hasn\u2019t brought an existing book and is starting from scratch – something Newman says has been eye opening.<\/p>\n
\u201cIt\u2019s really highlighted that a lot of people aren\u2019t out there waking up, looking at the sun and thinking, \u2018I want to buy life insurance today!\u2019,\u201d\u00a0 he tells Good Returns. \u201cWe all know that, but diving into it without a client base and trying to generate those conversations has been a bit of an eye opener.\u201d<\/p>\n
\u201cOne of the great things about having been in the industry for so long is that I have so many connections,\u201d he adds. \u201cI met with a lot of established advisers and took in their wisdom. They have been fantastic sounding boards.\u201d<\/p>\n
The cost of starting from scratch<\/p>\n
After sitting on the insurer side of the table, building Lucid Advice has been a crash course in what advisers deal with day to day. Newman says stepping out under his own FAP licence has brought a fresh appreciation for the regulatory side of the business – and the unexpected costs that go with it. He notes that there were some surprises there, despite the thorough research beforehand.<\/p>\n
\u201cIt probably has been a bigger jump than I thought, but at the same time, I know that the first few months of starting a fresh advice business is going to be a slow grind,\u201d Newman says. \u201cWe\u2019ll work through that.<\/p>\n
\u201cIt would be amiss not to mention the costs involved in setting up your own FAP license and getting going. That did surprise me a bit. I\u2019d done a fair bit of work understanding those costs before making a decision, but there are hidden things that you don\u2019t necessarily think about.\u201d<\/p>\n
Still, the experience of running a FAP has proven valuable. Newman says AIA NZ\u2019s FAP is still one of the more solid offerings in the market with a \u2018conservative\u2019 approach, and it sets up a good understanding of what needs to be done when talking to clients.<\/p>\n
Raising awareness<\/p>\n
Coming from the insurance industry, you tend to live and breathe insurance and spend most of your time around people who do the same. Now on the adviser’s side, Newman says he\u2019s had to simplify the way he talks about insurance.<\/p>\n
Most people understand the term \u2018life insurance,\u2019 and not much beyond that.<\/p>\n
\u201cAfter 15 years in the industry, I\u2019ve got an understanding of insurance – but a lot of New Zealand doesn\u2019t,\u201d he says. \u201cPeople are not really sure what\u2019s out there and what their needs are. I\u2019ve been conscious of that in terms of my own language and how I\u2019m speaking to clients.<\/p>\n
\u201cWe\u2019re trying to hone in on helping those younger families with kids coming along for the first time, buying a house, etc. who are time-poor and likely on a tight budget.\u201d<\/p>\n
Newman says the business is going to focus on the local community for now, and then look at expanding across the North Shore or further afield in Auckland in the coming years. He\u2019s also looking to build a good network with other professionals in the area.<\/p>\n
\u201cThat\u2019s local mortgage advisers, accountants, real estate agents, etc,\u201d he says. \u201cWe want to work with them and support their businesses as well, and ultimately work together to support the community that we live in. That\u2019s our real target for year one.\u201d<\/p>\n
\u00a0<\/p>\n
Tags: AIA<\/a> FAP<\/a> Jack Newman<\/a> Lucid Advice<\/a> <\/p>\n