Before becoming the inaugural chief executive of Financial Advice New Zealand in 2018, Katrina Shanks (pictured above) was a member of Parliament from 2007 to 2014 and financial controller for the National Party.
Shanks, who was recently featured on the IB Talk podcast, talked about her background and upbringing, which influenced her decision to enter politics prior to leading the industry body representing financial advisers.
“I’ve kind of had politics in my blood forever,” said Shanks, who is an accountant by training. “I was brought up in an entrepreneurial, public service-type family. My father and my grandfathers all had farms and some businesses and were really active in their communities and public service.”
Her family was quite active in various local councils and organisations such as health boards and hospital boards.
“I was brought up with politics my whole life and wanting to do public service,” she said. “I have a view that you should contribute as much as you possibly can to make a real difference.
“I’ve had many role models in my life, and my grandmother was my biggest one,” Shanks said. “[She was] a very strong woman – very passionate about making a difference, always helping out at the next cause and had a vision about what things should look like. In the sixties, she was on a lot of boards when it was very hard for women to break through. I really took inspiration from her and her strength.”
Another major inspiration for Shanks was her father, who stood for Parliament twice but was not elected. Shanks was the first in her family to become a public servant at the national level.
Having entered politics, Shanks said that around 35% of Parliament were women during her tenure so she did not feel left out. However, she said that it was tough balancing the demands of the job and her family, which included three children.
“In politics, your enemy surrounds you and your opposition sits in front of you,” Shanks said. “You have to be 150% committed to your job. Obviously, you do so much in the community and so much policy work. It could take up 24 hours of your day, to be honest.”
