Sovereign confirms Select sale
Sovereign chief officer customer management and product, Rebecca Russell, says changes to regulation and the introduction of the DIMS regime promoted the decision to sell the business to JMIS.
Select has $600 million in funds under management and JMIS has been the independent consultant since the service was launched in 1998.
She says the business has been under review for nine months and “as a result of this review, we determined the best course of action for Sovereign would be to transition the service to a third party."
Sovereign is working with JMIS and the FMA through the proposed transition.
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)
