Interesting article. I get a bit annoyed myself with with the requirement.
https://www.stuff.co.nz/business/130...swer-questions
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Interesting article. I get a bit annoyed myself with with the requirement.
https://www.stuff.co.nz/business/130...swer-questions
Agree. Some of the requirements are ridiculous but it's not the brokers/banks who impose these things – it's governments which effectively require them to treat every customer as a felon unless and until the customer proves they are not and then slap on huge fines for failing to prevent crooks using their services.
From Business Desk email this morning:
Could Sharesies be on the hunt for more capital? Company executives have said its not on the immediate horizon, despite its latest loss.
Trade Me's holding company, Titan Parent New Zealand, which has a 13.5% interest in Sharesies, said the investment platform’s total loss from continuing operations was $25.1 million in the year to June 30 while revenue was $20.7m.
https://businessdesk.co.nz/article/f...aa59-402467359
Sharesies have just announced that they are working on a Sharesies KiwiSaver Scheme:
https://www.sharesies.nz/kiwisaver?utm_campaign=KiwiSaver-Waitlist&utm_medium=referral&utm_source=facebook&f bclid=IwAR3qhrwjWymGfofEu2tLRDMGclfSQbk6eG3MFeF3L9 IOjndzWds7J33CKUU
Not sure how I feel about this.
Be like Robinhood, I guess :cool: https://apnews.com/article/business-...460405c30e0908
Shareies did $20.7m in revenue. if their sole income is via fees thats like over $5 billion worth of transactions. wow
If they will offer self-managed kiwisavers with reasonable fees and their low brokerage rates it could be very interesting. No sign of this just yet as far as I can see.