Kiwi Wealth’s ‘Smarter Reasons’ campaign, created in collaboration with The Goat Farm and Sneakers Media, aims to reframe the conversation around retirement saving. a
Historically, retirement was taken care of by company pension schemes and topped up by the government pension.
With company pensions largely gone, the burden of topping up the government pension to fund retirement has shifted to the individual. This hasn’t been explicit, so most Kiwi are unaware of the impact this will have on them.
On top of this, property and the cost of living have both gone up disproportionately to wages.
Kiwis are under more pressure than ever to fund life’s big moments – whether that’s buying a home, putting kids through school, retirement, or just making ends meet.
This lost generation of Kiwis carry a greater financial burden but still aspire to the quality of life they’ve been surrounded by growing up.
But instead of helping Kiwis tackle this bigger issue, many providers in the investment industry are distracting them with ads about fees and performance.
Of course KiwiSaver providers should do everything they can to provide customers with good returns at a fair price. But this alone won’t solve the problem – and ads about this can lead to consumer behaviour that delivers a worse outcome.
Kiwi Wealth saw this as an opportunity to help better inform the market.
“In September Kiwi Wealth was #1 in the Morningstar tables for the Growth fund over a 10 year timeframe (in the Aggressive category). We wanted to use this as an opportunity to highlight why it shouldn’t be the only reason to join us. And that there are other smarter reasons,“ says Laura Stephenson, Head of Marketing at Kiwi Wealth.
Vaughn Davis, Creative Director and Owner of The Goat Farm adds: “In a category that’s dominated by ranking tables it was refreshing to instead talk about smarter reasons to choose where your KiwiSaver money goes. We also got to give the poo emoji his 15 minutes of fame, so that’s a win too.”