Shares KiwiSaver’s 7,000 waitlist

A day after Sharesies announced its entry into the KiwiSaver market early next year, 7,000 people were on the waiting list. Most of them are existing members of the online investment platform.

Friday, December 9, 2022 at 8:30 AM

Andrea Malcolm

Sharesies has a team of 15-20 people working on the main build of the KiwiSaver scheme. Pathfinder, SuperLife, and Pie Funds are locked in as providers, and negotiations are underway with other funds and his managers.

Sharesies KiwiSaver members will be able to spread their investments across multiple funds, said Sharesies co-founder and co-CEO Leighton Roberts.

“We have worked hard on our brand to connect with people and help them make the right decisions. It’s okay.”

Approximately 65% ​​of Sharesies’ customers are under the age of 40 and age over time. According to Leighton, many of their clients have turned to the platform through their financial advisors.

“Shares research shows that many customers feel they are unable to get advice due to lack of confidence or cost. , advice is part of that, and we want to work with advisors because we can now reach really engaged and interested audiences.

A Kantar survey conducted last month on Sharesies found that 54% of platform users, compared to 40% of regular users, have turned to KiwiSaver providers in the past to get better returns and lower fees. It turns out that there is a high possibility of switching between . The users are also more likely to contribute more to KiwiSaver, with nearly half contributing at least 3% or more. Also, more than half of equity investors thought he would need more than $1 million for retirement, compared to 39% of New Zealanders overall.

“We’ve been doing that research for the last three or four years, and people are really building trust. Things like switching come from confidence, throwing in more than the bare minimum contribution, things like that.” comes from being confident about what you’re going to do and what you’re going to get out of it.”

But Roberts says Shares doesn’t encourage or encourage switching behavior. “Our ethos, always small over the long run, sums up KiwiSaver perfectly. We are passionate about making sure that

Given its young demographic, ethical investing may be popular with Sharegy members, but there is a lot of confusion about what is ethical.

“I think we can all agree that the word ‘responsible’ has become a bit of a tagline. proved to be a very tricky word, and none of the six of us, our founding group, could agree on what it meant.

“We want to talk more about helping people invest in line with their values. , speak up and let people make the right decisions about it.Having said that, one of the funds that we use is the Pathfinder Fund, which has been working in New Zealand for the last few years to create a sustainable response. We have an investment award.”

Equity investment platforms are now used by over 10% of New Zealanders and manage $2 billion.

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