KiwiSaver: Advisers' saviour, or a lot of work for little gain?
Ten years on from the introduction of the scheme, most industry commentators said it had been a positive development for financial advisers.
David Boyle, who is now at the Commission for Financial Capability but was working as head of KiwiSaver distribution at ING when the scheme launched, said his team spent a lot of time upskilling advisers at the beginning.
If the retirement savings scheme had not entered the market when it had, the outlook for advisers could have been quite different, he said.
“Before KiwiSaver managed funds were looking pretty dire. We went through bad times through the credit crunch but then KiwiSaver came on and it saved the managed fund industry. It was a door for advisers to build a customer base to get them started.”
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