Adviser only KiwiSaver product in development
[UPDATED] Consilium is looking to build a KiwiSaver product which will shake up the market and be distributed through advisers only.
Tuesday, June 11th 2019, 1:50AM 
5 Comments
Scott Alman
The Christchurch-based adviser support group is working on a new product called KiwiWrap, which will allow advisers to build KiwiSaver portfolios using different funds.
"The KiwiWrap will allow advisers to choose from an open architecture of managed funds, international shares and ETFs. The idea is to give advisers the greatest possible choice and latitude in creating portfolios for their clients," managing director Scott Alman says.
Consilium is in the early stages of development and the company has not yet applied for a KiwiSaver licence.
However, the firm wanted to "do something a little bit different in the KiwiSaver space".
The idea is similar to the Craigs Investment Partners' KiwiSaver product which allows investors to put a portfolio together using 180 Australasian and international shares.
With the proposed KiwiWrap product advisers would be able to create bespoke portfolios using a multitude of funds including Dimensional Funds products. Consilium is a big fan of the Dimensional approach, especially their low fees.
Alman says the product will be "adviser-directed", and not available to the public.
"We believe in the value of advice," he says.
Alman says the proposed product will appeal to members who have KiwiSaver balances of $50,000 or more as it is very hard to add value to investments when the balances are small.
"I don't think you can add a lot of value when the balances are small," he says.
"Those with larger KiwiSaver accounts should have the ability for more interaction with how funds are invested, performance and fees. This is also a good time to seek out advice."
Currently the company is working on a goal to have the product live around mid-year 2020.
| « FundSource finally sold, but competition for research heating up | Mann on a mission to diversify financial advice » |
Special Offers
Comments from our readers
Sign In to add your comment
|
|
Printable version |
|
Email to a friend |
