I suppose the point is to get the employer contribution I need to be in kiwisaver. As I like free money even if it has to be locked away till I'm 65 then I may as well make sure it is invested according to my wishes.
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The next FTX?
With reference to Rawz's quote insert in posting above:
The Sharesies Revenues won't all be from Security Trading Commissions
but likely to include other Services as well like the $10 monthly Live NZX prices,
Currency conversion commissions, any company float/IPO/Placement
commissions and probably other types of revenues,
so inaccurate to try to link it to Volumes traded based on 0.5% commission rate.
For high value trades the rate lowers.
Yeah I get that, and I agree. But it does show that Sharesies is now a credible platform that is here to stay. As I said, I don’t know whether going down the KS track is a good idea or not. Time will tell, but who knows? They might actually get people involved in KiwiSaver who currently are not, as having it integrated into the platform those people are already familiar with, might help to remove the “fear” aspect of KS.
2 billion currently invested is not to be sneezed at.
The thought of an inexperienced investor dropping all their retirement savings on AirNZ... There will be tears if they allow this,
Not going to happen, and I don't think there will be a self-managed option, at least not initially. This is Sharesies response to a question I asked them:
Quote:
You'll get access to a range of actively managed funds provided by experienced fund providers like Pathfinder, Pie Funds and Smartshares. We will have lots more to share as we get closer to our launch in 2023."
Yup high fees but I get to pick and choose and allocate my stocks. This has given me an average annual return of 12.72%.
Happy to take that and will be even happier if more organisations start competing in the same kiwisaver space. More choice is always better at driving down fees.