Sharesis has been granted a managed investment scheme licence and plans to roll out a KiwiSaver scheme next year.
Sharesies will be launching a KiwiSaver scheme in the first half of 2023 with Kiwis able join the waitlist for early access.
The KiwiSaver scheme is described as a natural step in Sharesies evolution since it launched in 2017 and its co-founder and 3EO, Leighton Roberts says it was always their intention to broaden offerings to include a range of money opportunities so everyone can grow their long-term wealth whether they have $5 or $5 million.
“KiwiSaver is an amazing initiative and we’d like to see people become more engaged with theirs. It’s where most Kiwis are regularly investing, yet when we asked people about their Kiwisaver account many didn’t feel connected to this investment.”
Since launching, Sharesies has helped to build a more confident and experienced community of investors by removing the barrier that prices and jargon people out of other financial markets and it aims to do the same for KiwiSaver members.
“Sharesies believes in encouraging and supporting people to take more control of their financial destinies. We’re starting with the basics like we did with share trading by offering a choice of funds and in time we’ll be adding more fund options,”
We’ve partnered with a number of experienced fund managers to provide a range of active and passive managed funds, covering conservative, balanced and growth style, plus an ethical focus.” says Roberts.
Mint Asset Management head of sales and marketing, David Boyle says the scheme is an iteration of where KiwiSaver is evolving and it comes down to distribution channels and the range of platforms and ways to access it.
“I see it as part of the way we get more Kiwis saving. I think it’s a good start and the thing about getting more people connected to their KiwiSaver is not a bad thing if they haven’t been before, but as balances grow they are going to need more face to face with an adviser in the future I think.
He says the scheme shouldn’t be a surprise given Sharesies large customer base-especially with younger people.
“I don’t see it as a negative or something that will materially impact the advice sector, I just see it as another area of access to a product and we want to see more Kiwis use it. But we need it to get started and all credit to any organisation that has the ability to give face to face advice or an option that sits and fits with people's current needs. It's an evolving industry and digital is just part of it.
It's not a silver bullet when it comes to advice but I think it’s a great way to compliment it. “
Sharesies wil provide practical information and educational content to help grow confident investors and it aims to be as transparent as possible which includes letting members look under the bonnet of their KiwiSaver account to see how it ticks.