A financial adviser is re-launching a KiwiSaver scheme in partnership with Forsyth Barr.
Martin Hawes is chairman of the investment committee for Summer KiwiSaver.
He said he wanted to grow the investment culture in New Zealand.
He said New Zealanders could miss out on tens of thousands of dollars in retirement unless they became more actively involved in driving their investment choices.
“New Zealanders are notoriously disengaged with their KiwiSaver. One quarter of KiwiSaver members don’t even know what kind of fund they’re invested in*. That’s dangerous. If you’re still 10 or 20 years from retirement you risk missing out on thousands in retirement,” he said.
Hawes, an AFA, d will lead communications with the scheme’s members. Forsyth Barr’s funds management team will handle day-to- day investment management.
Hawes said his move into KiwiSaver was a natural extension of his mission to reach as many New Zealanders as possible with the message that the small decisions you make today can have a massive impact on your lifestyle in retirement. The scheme was named Summer in reference to Hawes’ 2006 retirement planning bestseller 20 Good Summers – and to acknowledge that retirement can be the best years of your life if your finances are well organised.
He said a danger to many New Zealanders achieving the retirement they aspire to is to is being disengaged from their KiwiSaver account.
“For many New Zealanders KiwiSaver will be their most significant financial asset outside the family home. That’s why it’s critical to get involved with your KiwiSaver investment now and take charge of it to create the future you want,” he said.
Summer KiwiSaver members will have the opportunity to learn about investing from Hawes’ regular communication with them. They’ll also have the chance to put that into action by deciding the weighting of their investment allocated to different investment classes.
“With Summer, you can get involved as much or as little as you choose. We offer the Investment Selection option for members who would rather let us make the decisions for them and keep them informed along the way. Those who like to be more involved can allocate their investment across different funds that invest in cash and domestic and global fixed interest and shares, depending on how they read the market at any given time.”