Stock-picking days numbered for advisers
Mint Asset Management chief executive Rebecca Thomas says she has been surprised how many New Zealand advisers still pick individual securities, including shares and debt securities, for their client portfolios.
“You still find people going, ‘I don’t use managed funds’. Some investment advisers still have a strong propensity to pick stocks,” she says.
“The main thing you ought to be doing as an adviser is financial planning not picking stocks.”
And Thomas says one of the reasons for advisers picking stocks may be New Zealand’s relatively uncomplicated tax regime.
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