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 […]
Category Archives: KiwiSaver News
FMA raises KiwiSaver bar
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 […]
Plans outlined for bankrupt KiwiSaver members
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. […]
Adviser KiwiSaver schemes lose share
[UPDATED] Advisers have been “totally out-manoeuvred” by banks when it comes to KiwiSaver, an investment analyst says. Collin Nefdt, formerly of Morningstar and now operating research organisation NZ Trends, said the bank dominance in the KiwiSaver market had pushed financial advisers to the side. His latest research, for the third quarter of 2015, showed the […]