Stubbs looking to launch new KiwiSaver offer
He is the sole shareholder of a new company, Simplicity NZ, which has been given a managed investment scheme licence by the Financial Markets Authority.
Stubbs has been away from the financial services industry for three years.
In June 2014 he outlined ideas of a new KiwiSaver scheme at the Institute of Financial Advisers conference. Good Returns understands he wants to distribute his new product via fee-only advisers. This is in contrast to providers like Generate and Grosvenor who pay advisers upfront and trail commission on their products.
Generate has been pushing its remuneration model at conferences and recently cracked the $200 million funds under management mark. While it took the firm a number of years to get the first $100 million in FUM the second $100 million has come in eight months,
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