Personalised KiwiSaver accounts added
Sharebrokers ABN Amro Craigs have launched its KiwiSaver product which, it says, gives investors flexibility in terms of product selection.
Thursday, August 23rd 2007, 7:18AM
"Investors, with the support of an investment adviser, can select the securities they wish to invest in," head of client services Stephen Jonas says.
Clients who already have investment portfolios are given the opportunity to manage their investment risks over their entire portfolio rather than treating superannuation as a discreet and separate investment, he says.
"We invite clients to monitor the composition of their investment, and help them understand investment markets, risks and rewards. A key component of our philosophy is to minimise costs and provide a full disclosure of fees," says Jonas.
ABN Amro Craigs' core expertise is providing quality investment advice for its clients. "New Zealanders need to better understand superannuation investment," explains Jonas. "They should understand exactly what they are investing in and the risks associated with that investment.
They should also always seek sound professional advice."
Jonas says that making the wrong choice with a KiwiSaver scheme provider can be costly with those who change schemes potentially incurring additional entry and exit fees. He also warns that headline rates or fees may appear low but the full costs and expenses may not be apparent and expert advice is required.
ABN AMRO Craigs has over 100 investment advisers throughout its 16-branch network. The company has not participated within the superannuation space previously.
He says that because the product is flexible, Craigs are able to include elements of socially responsible investing, by incorporating a range of SRI options as part of our personalised investment choices.
Although its product differs by enabling greater individually managed accounts, people who sign up to the scheme will still qualify for all the Government incentives to which they are entitled.
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