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Many KiwiSaver members do not feel they have enough money in their accounts to make seeking advice worthwhile, even if the service is free, one provider says. Grosvenor is a new default provider of the saving scheme. As part of its service to clients, it offers them access to an adviser. Each new member who […]

KiwiSaver has massively increased the market for financial advice in New Zealand, one analyst says. Collin Nefdt, formerly of Morningstar and now operating NZ Trends, has released new research looking at performance consistency of the KiwiSaver schemes. He analysed AMP, ASB, Fisher Funds, Grosvenor, Mercer, Milford, OneAnswer and Westpac and compared their ability to beat […]

KiwiSaver providers are focusing more on pushing products than providing advice to ensure their members are in the right funds, the Financial Markets Authority says. It has released its first monitoring report on sales and advice practises. The report covers advice given by AFAs, QFEs, brokers and custodians. Its two main focuses within that are […]

KiwiSaver providers have been told how the Official Assignee will access the savings of people who go bankrupt. A long legal fight has been raging over whether bankrupt KiwiSaver members’ money can be used to pay their creditors. Estimates are that more than 5500 members of KiwiSaver are bankrupt, with accounts worth about $30 million. […]