Having been successful in the finance industry Stubbs wanted to give something back to the country. Stubbs says the asset management industry in New Zealand is "ripe for an Uber moment and this is it". Finance industry boss Sam Stubbs aims to shake up the KiwiSaver industry. Fees for the average KiwiSaver are currently 1.3 per cent a year. Passive funds track market indices and cost less than active funds where stock trading requires more work.

Source: New Zealand Herald July 31, 2016 06:49 UTC