Low interest rates driving customers to wealth products: ASB
Wednesday, August 10th 2016, 5:19PM 
1 Comment
ASB says it has seen sustained momentum in its funds management business over the 12 months to June 30 with income growth up 15%.
Chief executive Barbara Chapman says the growth has come about by "building capabilities" (ie adding new staff) and the economic environment.
She says with low interest rates customers have shown more interest in wealth products and some are switching from term deposits to this area.
These people go through a “very structured needs analysis” before moving into wealth.
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I believe that this translates to:
Fill out a risk profile survey. The results fit the customer into a particular category. The customer is presented with the providers products for that category.
This is robo-advice charged at full human being pricing.