Advisers set clients on right investment path
Data from ANZ and Booster shows that KiwiSaver members who work with advisers, as opposed to going it alone or via a bank, have more allocation to growth assets throughout their lives.
At Booster, investors aged between 17 and 32 have 30% higher exposure to growth assets, which chief investment officer David Beattie said was due in part to the effect of unadvised default members ending up in conservative funds.
But even between age 33 and 60, members with an adviser had 15% allocation to growth.
“The risk profile of average advised members from 40 to 65 becomes more risk averse as they get older, which is what you would expect,” Beattie said.
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