Advisor relationships on Sharesies' radar

Investment platform Sharesies is turning its mind to how it can work more closely with advisors now it has its latest KiwiSaver scheme options up and running.

The company this week began offering its KiwiSaver customers a base fund option with higher risk US exposure, in the form of its Sharesies US500 Fund. The fund invests directly into the Vanguard S&P 500 index fund. Waiting in the wings for launch is a US self-select option allowing customers to add specific companies and ETFs to their portfolio.

“We've got a 9 basis point management fee, which includes the underlying Vanguard cost as well, so it's giving us an entry into that low cost segment of the market that we haven't had before,” says Matt Macpherson, Sharesies GM of Super and Funds. 

With the work to build out the KiwiSaver offering almost complete, Macpherson says further consideration of how the platform can work with advisors is likely going to come up later this year.