If you don’t have a Financial Adviser appointed for your KiwiSaver fund, you need to work directly with your fund manager.
Any changes to your arrangements, or questions need to be dealt with via an 0800 number or generic email address where you will go into a queue and await a response. In our experience with many KiwiSaver providers, this can mean a frustrating process working with multiple different points of contact and an inability to discuss your personal requirements either via online meeting or in person.
Fund managers will generally not provide any advice or recommendations and will only follow your instructions with any requested changes. Banks are some of the largest KiwiSaver providers and are steadily reducing face to face services and making it difficult for many to access advice.
If you appoint a Financial Adviser for your KiwiSaver, they become your first point of contact for any questions, changes or advice needed. Your fund manager will still provide annual reporting and your Adviser will also make contact periodically to provide any further information needed which can include reviewing performance against other fund managers, your risk profile and fund allocation and discussing your retirement plans. Our KiwiSaver clients tell us they prefer working with a single, consistent point of contact and being able to access advice when needed.
The best part is this usually costs you nothing. KiwiSaver fund managers pay Advisers an ongoing service fee which comes out of their management fees charged to you. There is usually no additional cost to have an Adviser appointed which recognises the work that the Adviser does on behalf of the fund managers.
So why rely on an 0800 call centre when you can access personal service and have local people providing you with ongoing service and advice? Contact us to start a review of your KiwiSaver provider today.