Huljich sacks KiwiSaver advisers

• Tweet

Huljich Wealth Management has confirmed that it has sacked a number of advisers selling its KiwiSaver funds due to their selling practices.

Wednesday, September 9th 2009, 5:22AM

As first reported on Good Returns last week the Securities Commission is investigating complaints of illegal house-to-house marketing of KiwiSaver schemes.

“A number of accredited distributors have been terminated for distributing the Huljich KiwiSaver Scheme contrary to our brand and our values,” Huljich managing director Peter Huljich says.

“We will always operate within the law, in keeping with the KiwiSaver brand and in the best interest of our clients and potential clients.

“If any accredited distributor is found to be distributing the Huljich KiwiSaver Scheme door-to-door or breaching any other conditions of (their) distribution agreement, therefore bringing the NZF and Huljich brands into disrepute, they will be terminated immediately.”

Huljich sells its KiwiSaver funds through distribution agreements with NZF and Mike Pero Mortgages.

Last week it announced it had also formalised a distribution deal with Dorchester.

The Huljich KiwiSaver Scheme now has 50,000 members, making it one of the biggest non-default schemes, beating the likes of Gareth Morgan, Fisher Funds and Milford Asset Management.

It says its unit prices across all three KiwiSaver Funds are at all time highs, with the Conservative Diversified KiwiSaver Fund at $1.21, the Balanced Diversified KiwiSaver Fund at $1.14, and the Growth Diversified KiwiSaver Fund at $1.12.

Auckland mayor John Banks and former Reserve Bank governor Don Brash are director of the Huljich business.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Good Returns go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.