When it comes to securing your financial future through KiwiSaver, the choice of fund can make all the difference. But navigating the world of KiwiSaver options can be daunting. To ensure you're making the best decision for your financial goals, it's crucial to seek guidance from a reputable and qualified financial advisor.
___________________________________________
“I just had a consultation with a guy from Generate; he gave me a lot of advice about investing my kiwisaver. Just wondering if anybody here has worked with Generate for long term and can vouch for their business.“
(Original question on Reddit)
___________________________________________
It’s great that you are considering your future and looking to open a KiwiSaver account to help you reach your financial goals. When selecting a KiwiSaver fund, seeking advice from a reputable financial advisor is recommended rather than relying solely on a direct KiwiSaver provider. Here are some reasons why:
Independence:
A reputable financial advisor is typically independent and not tied to any specific KiwiSaver provider. They can provide objective advice tailored to your specific financial goals, risk tolerance, and investment needs. In contrast, a direct KiwiSaver provider may have a vested interest in promoting their own products, which may only sometimes align with your best interests.
Comprehensive Analysis:
Financial advisors have access to a wide range of KiwiSaver funds and can analyze and compare them to identify the ones that best suit your circumstances. They consider factors such as age, investment horizon, risk tolerance, and financial goals to recommend the most suitable fund. This comprehensive analysis is often more thorough than what a single KiwiSaver provider can offer.
Regulatory Requirements:
In New Zealand, financial advisors must meet specific regulatory requirements and adhere to ethical standards. This provides you with an additional layer of consumer protection, ensuring that the advice you receive is of high quality and in your best interests.
That said, it’s important to choose a reputable and qualified financial advisor who has your best interests at heart. You can check their qualifications, credentials, and reviews to ensure they are a trustworthy source of financial advice. In addition, advisor fees are built into most KiwiSaver fund fees and therefore, going to a KiwiSaver advisor will often be free of charge and cost you nothing. Ultimately, a combination of professional advice and your own research can help you make informed decisions when selecting the best KiwiSaver fund for your needs.
Hope this helps.
Regards, Clive Fernandes (Financial Adviser)
Director – National Capital
Disclosure: I am the director of National Capital, a KiwiSaver advice firm. The views expressed in this article are the views of the author. The information provided is of a general nature and is not intended to be personalised financial advice. You may seek appropriate financial advice from a Financial Adviser to suit your individual circumstances or contact National Capital.
