Sharesies plans self-selecting KiwiSaver plan

Sharesies co-founder and chief executive Leighton Roberts says his team started thinking about developing a KiwiSaver option about six months after the firm's 2016 launch but the KiwiSaver launch didn't happen until late last year when the company received its licence.

“It was always not if, but when,” Roberts says. “We want to be the biggest wealth development platform in New Zealand and Australia. Superannuation makes up a huge part of people's wealth and, in our view, it should make up more,” he says.

The lack of adequate retirement savings represents a big macro risk for New Zealand and market research shows that engagement with KiwiSaver is lacking.

“A lot of people are in the wrong funds and they don't know that it's an investment – they think it's a savings vehicle because of the name. But for a lot of people, particularly younger people, KiwiSaver is the biggest asset they have,” Roberts says.