Venkat Raman
Auckland, January 3, 2025
We report pleasure the celebration of Wellington-based Dr Pushpa Bhardwaj Wood in the List of Ten Incredible People, announced by MAIA Money Changers.
Inclusion in the list automatically qualifies for The Money Awareness & Inclusion Awards (MAIA), a programme that celebrates people transforming financial literacy and inclusion for millions of people worldwide.
As the Director of the New Zealand Financial Education and Research Centre of Massey University and as a community leader involved with several not-for-profit organisations, Dr Wood has been a strong advocate of financial literacy as the primary step towards sensible financial management at government, corporate and domestic levels.
The MAIA recognises leaders involved with almost everyone keen on achieving financial stability and progress through a proper understanding of its nuances – from educators and fintech founders to influencers and policymakers.
“These leaders are breaking barriers and building a financially empowered future. The MAIA aims to help everyone understand what money means, what it can do, how to get it to help you and how to avoid it hurting you. While some of the poverty in the world is caused by not enough money, too much is caused by not enough awareness,” says the MAIA website.
This is an area of high note for Dr Wood.
An advocate of financial literacy
Her Citation says: “Dr Pushpa Wood is a leading advocate for financial literacy and education. Her extensive work has focused on improving financial capability among diverse populations, particularly vulnerable communities such as migrants, women, and youth. Dr Wood has developed evidence-based programs and resources tailored to address real-world challenges, fostering long-term financial resilience. She actively collaborates with policymakers, educators, and community organisations to embed financial literacy into educational systems and public initiatives. Her enduring commitment continues to inspire systemic change, empowering individuals and strengthening financial well-being across New Zealand and beyond.”
Dr Wood is among ten people around the world honoured on the days leading to the end of Year 2024. The MAIA hopes that by celebrating work being done all over the world, “we will all become more aware of not only the problems but also new innovative solutions.”
Please read about the other nine awardees here.
The following is from our Archives:
Dr Pushpa Wood has a long history of adult and financial literacy advocacy. She was earlier the Education Manager at the Commission for Financial Literacy and Retirement Income.
She has worked across the school, tertiary, and industry sectors to improve adult literacy and financial literacy and is a member of the New Zealand Qualifications Authority’s project advisory group reviewing financial literacy unit standards.
Dr Wood is the current Chairperson of the Adult Literacy Practitioners’ Association.
She has extensive experience in developing teaching and learning resources, training and development and stakeholder relationships. Her research interests include identifying trigger points that motivate people to change their financial behaviour and testing culturally appropriate evaluation tools.
Member, Financial Advice Code Committee
In July 2024, Commerce and Consumer Affairs Minister Andrew Bayly announced the appointment of Dr Wood as a Member of the Financial Advice Code Committee, a high-level body that sets and advocates good ethical conduct and adherence to industry standards.
This position is a Ministerial appointment and has been approved by the Cabinet.
“We need individuals who understand the complexities of financial advice and can contribute to the development of robust guidelines that protect consumers while promoting a thriving advisory industry,” Mr Bayly said.
He described the appointment of Dr Wood as ‘significant,’ and that the move will strengthen the financial advice sector and enhance consumer protection.
Mr Bayly understands the complexity of the financial sectors and the need to protect consumers amidst equally confounding laws and regulations. Before entering politics, he was involved with the financial services sector for more than 25 years. He owned a Merchant Bank and many businesses and served on the Boards of many companies, including a Financial Planning Company of which he was the Independent Chair.
Reforming the Financial Advisory Sector
He said that the Financial Advice Code Committee is an important body that ensures ethical conduct and adherence to industry standards.
“Its members are responsible for developing and maintaining the Financial Advice Code. The Code outlines the professional obligations and conduct expected of financial advisers,” he said and added that he is currently working on a series of reforms to improve the conditions and services of the sector.
“We are looking at the affordability regulations in the Credit Contracts and Consumer Finance Act as a part of our Coalition Agreement with the ACT Party and taking a broader view of the Consumer Finance Act. I am also considering the ways of improving the efficiency of the Financial Disputes Resolution System,” he said.
Mr Bayly said that he was concerned about the overbearing regulatory environment and its effect on financial advisors.
