We’d been waiting for a big KiwiSaver deal and now we have it. Fisher has landed the Huljich business. [extract] This is probably no surprise as many had speculated Huljich was only in the game for the short term. Meanwhile Fisher has been acquisitive picking up other books including theFirst New Zealand KiwiSaver business. [extract] So far there has been little explanation of the deal so it’s worth having a look at it. [extract] I suspect one of the biggest drivers around Huljich’s decision to sell is adviser regulation. To sell or give advice on KiwiSaver one has to be an AFA. [extract] Huljich, like Fidelity, managed to build significant KiwiSaver client bases by using insurance advisers and mortgage brokers to sign up members. These people are no longer able to provide that service. [extract] We have produced an in-depth report and analysis on KiwiSaver managers based on last year’s figures. One of the findings is that Huljich and Fidelity were top performers when it came to increa…
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