Comments on: KiwiSaver: The journey begins http://www.kiwisaver.net.nz/kiwisaver-the-journey-begins Your online guide to KiwiSaver, the Government superannuation scheme Wed, 18 Jun 2008 17:29:03 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: admin http://www.kiwisaver.net.nz/kiwisaver-the-journey-begins/comment-page-1#comment-3 admin Wed, 04 Apr 2007 22:33:10 +0000 http://www.kiwisaver.net.nz/?p=3#comment-3 Philip I read your blog on the paltry amount of unsolicited mail that you have received on KiwiSaver as it affects employers. I hope you will find the attached of some interest. We will be happy to follow up with you in more detail if you wish. Regards Paul Philip

I read your blog on the paltry amount of unsolicited mail that you have
received on KiwiSaver as it affects employers. I hope you will find the
attached of some interest. We will be happy to follow up with you in more
detail if you wish.

Regards

Paul

]]> By: admin http://www.kiwisaver.net.nz/kiwisaver-the-journey-begins/comment-page-1#comment-2 admin Wed, 04 Apr 2007 22:29:18 +0000 http://www.kiwisaver.net.nz/?p=3#comment-2 G'day Phil, Being a STMSME (smaller than most small medium enterprises) I to have always had a desire to establish a company superannuation scheme and so far Kiwisaver seems to be the answer. Up to now most company superannuation schemes have been sold by specialists employed by the large institutions. The few schemes put into place with SME's have probably been put in place with a lot of hard work (and little remuneration) by a few hard working self employed Advisers. I would also venture to say these proper superannuation schemes are outweighed by the claytons schemes, consisting of employees being sold individual front end, back end, sideways loaded superannuation products. So the answer as to why the thriving SME of Good Returns has not had superannuation providers knocking down their gold embossed doors is probably the same as for my business, there ani't no money in it for the suppliers to pay their large salaried specialists to do the job and the poor hard working Adviser seeing the GoodReturns MD corporate Lada in the company carpark (or expired parking meter) could not imagine the MD parting with a large chunk of cash for superannuation consultancy fees, let alone allow the sale of loaded products to his unsuspecting staff. Speaking of no money in it for the hard working Adviser, it who would appear the hard working Adviser may receive a trial of up to .25% if they sell certain Kiwisaver products. Again the hard working Adviser will become a poor hard working Adviser unless the Adviser can charge the SME owner/directors a fee for providing Kiwisaver advice to the SME employees who are chomping at the bit to signup. If the hard working Adviser can sell some 100-140% up front commission insurance products when selling the employee their Kiwisaver product then the poor hard working Adviser may not be so poor in the short term. The hard working needs-based financial Advisers are currently being bombarded with road shows, emails and letters from the Kiwisaver lottery winning product providers extolling the hard working needs-based financial Advisers (those at least who have a lot of time on their hands) to attend these road shows, read the emails and letters and learn how to sell Kiwisaver to STSME's, SME's and LE's. One might think the Kiwisaver lottery winning product providers can't do the selling job or make money out of Kiwisaver without a huge amount of effort on the part of hard working needs-based financial Advisers. Michael J Shaw Associate Financial Planner, Member IFA, Member SIFA Managing Director Wealth Building Strategies Ltd G’day Phil, Being a STMSME (smaller than most small medium enterprises) I to have always had a desire to establish a company superannuation scheme and so far Kiwisaver seems to be the answer.
Up to now most company superannuation schemes have been sold by specialists employed by the large institutions. The few schemes put into place with SME’s have probably been put in place with a lot of hard work (and little remuneration) by a few hard working self employed Advisers. I would also venture to say these proper superannuation schemes are outweighed by the claytons schemes, consisting of employees being sold individual front end, back end, sideways loaded superannuation products.
So the answer as to why the thriving SME of Good Returns has not had superannuation providers knocking down their gold embossed doors is probably the same as for my business, there ani’t no money in it for the suppliers to pay their large salaried specialists to do the job and the poor hard working Adviser seeing the GoodReturns MD corporate Lada in the company carpark (or expired parking meter) could not imagine the MD parting with a large chunk of cash for superannuation consultancy fees, let alone allow the sale of loaded products to his unsuspecting staff.

Speaking of no money in it for the hard working Adviser, it who would appear the hard working Adviser may receive a trial of up to .25% if they sell certain Kiwisaver products. Again the hard working Adviser will become a poor hard working Adviser unless the Adviser can charge the SME owner/directors a fee for providing Kiwisaver advice to the SME employees who are chomping at the bit to signup. If the hard working Adviser can sell some 100-140% up front commission insurance products when selling the employee their Kiwisaver product then the poor hard working Adviser may not be so poor in the short term.

The hard working needs-based financial Advisers are currently being bombarded with road shows, emails and letters from the Kiwisaver lottery winning product providers extolling the hard working needs-based financial Advisers (those at least who have a lot of time on their hands) to attend these road shows, read the emails and letters and learn how to sell Kiwisaver to STSME’s, SME’s and LE’s. One might think the Kiwisaver lottery winning product providers can’t do the selling job or make money out of Kiwisaver without a huge amount of effort on the part of hard working needs-based financial Advisers.

Michael J Shaw Associate Financial Planner, Member IFA, Member SIFA
Managing Director
Wealth Building Strategies Ltd

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