The fund manager launched its robo-KiwiSaver in March.
Managing director George Carter said it had been notable that those who moved their money to Nikko tended to have more saved.
The average balance in Nikko’s KiwiSaver funds is now more than $100,000.
That’s compared to a median balance across the scheme of $13,000.
Carter said Nikko did not have a retail brand and was trying to build presence in a niche way.
It wants to reach 0.8% market share.
He said it seemed that it was attracting people who were in the industry and aware of what Nikko did. They tended to be higher-paid and more engaged with KiwiSaver than the wider public.
“Getting the message out more broadly is taking a bit of time.”
The scheme now has funds under management of $10 million across 120 members.
Carter said it was an interesting part of the market to be in and required Nikko to communicate in a different way to capture the retail and consumer segment. Traditionally it had only dealt with institutional investors, which had meant a different approach, he said.
It offers a tool that 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 a "set up investment" button.
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