The firm becomes the second advice provider to gain exemption from existing law
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Nikko Asset Management New Zealand (Nikko AM NZ) has received the Financial Markets Authority’s approval to provide personalised financial robo advice, making it the second advisory firm to gain exemption from the existing law.
Nikko AM NZ is all set launch an online advice service that will begin offering robo-advice later this year. Its platform will let users set financial goals and provide automated advice, which will be backed up by the company’s domestic and international investment professionals.
The firm’s managing director George Carter said Nikko AM NZ’s basic advice will be free for everyone to access online 24/7.
“This development aligns with our values of innovation and commitment to helping people meet their financial goals, and follows on from our launch of the Nikko AM NZ KiwiSaver Scheme earlier this year, allowing Kiwis to invest directly with us for the first time,” he said.
Nikko AM NZ currently manages investments for corporate superannuation schemes, community and charitable trusts, foundations, financial planners, banks, insurance companies, KiwiSaver Schemes, corporations, other fund managers and retail investors.
