Advisers are being urged to think about KiwiSaver advice as a way to capture clients for the future. While KiwiSaver balances are growing, many advisers still regard the superannuation savings scheme as more trouble than it is worth. Commissions range between about 0.15% and 0.25% of the client’s balance. The average balance is about $12,000. […]
Category Archives: KiwiSaver Articles
KiwiSaver advice sparks complaints
Thirteen customers have complained about bank KiwiSaver sales and advice processes over the past year, the Banking Ombudsman says. The dispute resolution scheme has released its annual report, which shows it received 2458 inquiries in the year, up 2.6 per cent on the year before. Those inquiries led to 568 complaints, down 1.4 per cent. […]
KiwiSaver risk reward just 2.1%
KiwiSaver members in conservative funds have received returns just 2.1% per year less than those who took on extra risk in a growth fund over the past eight years. That is the finding of Melville Jessup Weaver’s (MJW) latest investment survey, which showed the median annualised return from growth funds was 8.2%, compared to 6.1% […]
Banks tackle KiwiSaver advice question
Banks are hoping more guidance from the Financial Markets Authority will make it easier for them to advise their clients on switching between KiwiSaver funds and providers. In the FMA’s KiwiSaver report this month, it said there had been feedback from some providers that its KiwiSaver sales and advice guidance was getting in the way […]