[GRTV] What needs to change with KiwiSaver
Consilium managing director Scott Alman talks to Philip Macalister about changes he would like to see made to KiwiSaver.
Thursday, June 6th 2024, 8:23AM
Consilium's KiwiWrap KiwiSaver offering has been off to a slow start but its starting to make good headway, Alman says.
He says KiwiWrap is "vastly different" to other schemes and "we always knew it would be a slightly harder road to hoe."
The scheme is a full advice model and advisers can access more than 400 securities, and to build a portfolio.
Currently it has $77 million in funds under management, but "we're making headway and getting strong flows," Alman says on Good Returns TV.
He says as a full advice model it takes a different mindset and gets away from a product based offering to a service based one.
Alman says it gives advisers the opportunity to build a broadly diversified KiwiSaver portfolio and it solves the "single manager risk".
That is a big risk in Alman's mind as we seen some active managers go through sudden declines.
"Active managers can get some rapid withdrawals," he says.
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