That would be at 0.5%, but their rate over $3000 is 0.1%.
Would expect a reasonable amount of revenue is clipping the ticket off FX.
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We might be surprised, the mantra of the believers is "just keep buying". Most of the Sharesies users simply don't have the time, interest or wherewithal to bother with analysis and/or actively trading the market. And all power if they DCA in this market. It's certainly proved over the long term an excellent strategy. We shouldn't forget many of them are neophytes to stock investing and it's a low friction point of entry. Equally, many are using it as form of education and are becoming more sophisticated. The more participants in the market the better. Who wants to be a be landlord in this economy?
Sharesies as an organisation are clearly pretty ambitious,
https://www.sharesies.nz/kiwisaver
If they get into some kind of self selected kiwisaver it is a huge pot of money but risk of people losing everything is very real.
I would be happy to see some competitions in that kiwisaver space as I am currently with Craigs self selected kiwisaver and it is very expensive for the kind of service they provide.
Hopefully they will look across the Tasman and see how well "self managed" Super has done.
I don't think Kiwisaver rules allow for that.
Yup you can select your own kiwisaver portfolio.
ie
https://craigsip.com/personal-wealth...stment-options
Their tag line is "Create your own investment portfolio to suit your individual needs".
and even a FMA fact sheet on self selected options.
https://www.fma.govt.nz/assets/Repor...managers.1.pdf