'Opportunity there, if advisers can grab it'
That’s according to Clayton Coplestone, of Heathcote Investment Partners, a third-party organisation that introduces fund managers to financial advisers and large-scale investors.
He said there was $125 billion in term investments in New Zealand. And about $5 billion of that is set to roll off 8% per annum interest rates to new rates of 3.5% to 4% between now and the end of April.
For a retired person with $100,000 in the bank, the drop would make a big difference to their disposable income.
Investors would likely be seeking a better return than they would get by refixing term deposits but advisers would need to prove they could add more to portfolios than they would charge in fees, he said.
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