Older, female, richer investors more likely to get advice
Annie Claire Zhang, a researcher at AUT, has written a paper called Financial Advice and Asset Allocation of Individual Investors, soon to be published in the Pacific Accounting Review.
In it, she analyses how New Zealanders use financial advice on their KiwiSaver accounts by looking at 400,000 individual KiwiSaver members.
Ten per cent received advice from an AFA, which she said was low by international standards but in line with what had historically been seen in New Zealand.
Her data did not differentiate between bank-provided advice and that received from independent financial advisers. “I can’t tell if they sought the advice or if someone from the bank called and said your balance is X, it’s time to think about this.”
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[Weekly Wrap] Research shows KiwiSaver is a key issue in the election; GRTV Special looks at what's on offer.](https://goodreturns.publit.io/file/c_fill,w_300,h_200/36b7de93-7b53-4a06-855a-4a8f4009a280.webp)
