New Zealand fund managers should be competing for KiwiSaver members on the basis of advice, transparency and service – not fees or returns, one manager says.
Treasury this month released a report by Andreas Heuser that showed neither fees nor returns were significant drawcards for KiwiSaver members – who were instead more swayed by bank marketing tactics.
Heuser suggested it could be a problem of consumers’ lack of knowledge and engagement.
“Providers do spend some time and effort educating members and complying with their regulatory obligations …However, any incentive to improve consumer knowledge levels is not aligned with the economic incentive to retain customers and revenue levels,” Heuser said...MORE»
Tuesday, June 14th, 2:29PM
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Tuesday, May 17th, 12:44PM
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More than a third of New Zealanders would be willing to use money from their KiwiSaver accounts to pay for advice on what to do with it, ANZ research shows.MORE»
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