InvestNow pick ‘n mix a value-add opp for advisers

Overall new clients brought a net $150 million into funds during the 12 months to the end of December, increasing membership to 26,000; while existing members stayed the course with regular contributions through tough market conditions. Term deposits on the platform were also popular on the rising interest rate environment of 2022 with inflow up more than 100% year-on-year.

The InvestNow KiwiSaver scheme, which offers members a choice of external fund managers as well as an in-house range of diversified funds, more than doubled in size during the 12 months to the end of December.

“In KiwiSaver we’ve had a stellar year of growth, particularly where advisers are involved,” says founder Anthony Edmonds. "The InvestNow platform allows them to combine managers like Milford, Mint Asset Management and Pathfinder into one client’s KiwiSaver account.”

Edmonds says around 50 per cent of 2022’s inflow came from members working with financial advisers. “It’s a great opportunity for advisers to add value by selecting different fund managers within a KiwiSaver portfolio in line with their clients’ personal goals and risk appetites. And they [the clients] are sticking with them.”