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NZIER economist appointed by wealth management firm

Financial planning firm Stewart Financial Group has appointed NZIER economist Aaron Drew as its chief investment officer.

Tuesday, December 22nd 2015, 6:00AM

He will maintain his connection with the New Zealand Institute of Economic Research (NZIER) as part of the role.

Drew first joined the Hawkes Bay wealth management company's investment committee in November last year and, in his new capacity as chief investment officer, will oversee the $265 million of committed funds SG has under management across its Boutique Advisers Alliance business.

He says his new role involves working across the business on wealth management, KiwiSaver and adviser to adviser services. “I’m looking to bring on board the industry knowledge I have to add value to all those areas,” he said.

“Stewart Group runs a very credible wealth management operation and it’s an exciting opportunity to be part of that. SG is one of the few organisations in New Zealand to have Centre for Fiduciary Excellence (CEFEX),  accreditation, which indicates they are running a best practice organisation in the global sense.”

Director Nick Stewart said Drew would add value for investors.

SG’s investment committee oversees the design of portfolios for its wealth management clients as well as the two asset class KiwiSaver funds it manages in association with Grosvenor Investment Management Limited. There is now over $38 million invested in these funds.

Stewart said Drew's appointment would also benefit advisers who use the firm's Boutique Adviser Alliance.

This arrangement offers the firm's back office functionality to other fee-only New Zealand advisers.

There are six firms using the service.

“For both KiwiSaver and the BAA, this appointment adds a phenomenal depth of knowledge and mana to the engine of those two businesses. Advisers can have more confidence in the funds and service provided,” Stewart said.

Stewart Group recently received a discretionary investment management services licence.

 

Tags: investment

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