Are you ready for the KiwiSaver challenge?
Friday, May 18th 2007, 10:32AM
Once the headlines of yesterday's Budget Bonanza for the savings industry settle down and the fund managers' hangovers wear off it's time to work out what it all means practically.Perhaps the biggest message is that any adviser who wasn't sure about getting involved in KiwiSaver now has no excuse to ignore it.
The government has provided advisers, as well as fundies, with arguably the biggest business opportunity ever.
My question is who is prepared to take it up? Are you?
Oddest Budget comment
Perhaps one of the oddest reaction comments on the Budget came from Gareth Morgan on the Campbell Live programme last night.
As we know Morgan is pretty anti-fund managers and insurers (there was even spit flying on the telly). But the comment which flawed me was his suggestion that funds in KiwiSaver products should have some sort of government guarantee. This from Mr Free Market who also is himself offering his own KiwSaver scheme!
Comments like this are, in my view, just plain daft and irresponsible.
While I have a lot of respect for Gareth and many of the things he has done, I have been surprised and recent KiwiSaver comments and the media's unquestioning love affair with him. This is something I intend to offer more thoughts on later.
| « Advisers respond to APB collapse | Guarantees and Morgan » |
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