This was different from personalised advice, which is advice tailored exactly to your needs, based on your particular circumstances. The banks have a lot of resources, but though KiwiSaver is patently very profitable for them, personalised advice isn’t something they advertise prominently to small-scale KiwiSaver investors. Little do most bank KiwiSaver customers know, however, that they can ask their bank for an appointment with a financial adviser to talk through their KiwiSaver choices. Kiwi Wealth also had a team of financial advisers who could give personalised financial advice, including over the phone. So, to all those KiwiSaver investors out there in a state of worry about their savings, and wanting some personalised advice, the banks have the capacity to provide it.

Source: Stuff March 31, 2021 15:56 UTC