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Nikko robo-KiwiSaver goes live

Nikko is launching its KiwiSaver roboadvice platform today, the first time the fund manager has dipped a toe into the New Zealand retail investor market.

Wednesday, March 6th 2019, 6:00AM

Its KiwiSaver scheme has been running for some months but has had very limited inflows beyond internal staff money.

Managing director George Carter said many people had not been aware that it was available, and the brand had not been well-known to retail investors.

But the new tool hopes to change that.

It has a number of different functions.

Its GoalGetter option allows users to do long-term or short-term financial planning.

They can set and manage investment goals in their online account, including KiwiSaver but also covering things such as saving for a holiday, new car or accumulating an emergency savings account.

They then ask the tool to recommend funds that will help them achieve that, based on their risk profile, and can then set the investment up online via "set up investment" button.

The retirement planning option recommends a lump sum target for savers based on their current age and earnings, assuming a lifetime trajectory.

For a 35-year-old earning $100,000 from a salary, it recommends aiming for a final target of $940,256 in savings for a simple retirement, or $1.2 million for someone who wants "quality".

It estimates, if that person has a high risk tolerance, and puts their money half into a balance fund and half into growth, they would end up well short of the target with 3% form their employer and 3% of their own contributions, plus $40 in voluntary contributions a month.

It then allows tweaking of the various inputs to try to get closer to the target.

Again, "set up investment" arranges the money as requested with one step.

For those who do not need the planning help, a Just Invest option simply arranges money going into different funds on an ongoing basis, and there is an option to transfer KiwiSaver funds online.

Users can request support via phone or email.

Tags: Nikko AM roboadvice

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