Why consider a multi-manager approach with the GoalsGetter KiwiSaver Scheme?
When discussing KiwiSaver with your clients, the focus often centres around asset allocation - such as growth versus balanced, or shares versus bonds. But an equally important part of diversification is who is making the investment decisions.
This is where a multi-manager approach, such as GoalsGetter, offers an advantage.
A multi-manager approach spreads investments across multiple fund managers rather than relying on a single manager or investment style. For advisers, this adds diversification at the decision-making level and supports a broader approach to portfolio construction.
Why manager diversification matters
Diversification is often understood as spreading investments across asset classes, sectors, and markets. That remains important, but diversification can also apply to investment decision-making itself.
A multi-manager structure can provide diversification across:
• Investment teams
• Investment philosophies and styles
• Governance approaches
• Organisational risk
• Key person risk
Rather than relying on one manager’s market view or investment process, a multi-manager approach draws on a range of perspectives. This can help reduce reliance on any single team or style and may support a more balanced long-term portfolio experience.
For many advisers, this reflects the same logic often used outside of KiwiSaver. In other investment scenarios, it’s common to spread capital across multiple managers rather than concentrate it all with one provider. A multi-manager approach applies that same thinking to long-term retirement savings with KiwiSaver.
How this may benefit clients
No single fund manager outperforms in every market environment. Different managers are likely to perform differently over time depending on their style, process, and areas of focus.
By combining multiple managers within one KiwiSaver investment, advisers may be able to reduce reliance on a single outcome. When one manager is under pressure in a particular environment, another may be better positioned. While this does not remove investment risk, it may help support a smoother overall return profile over time.
A multi-manager approach may also help address one of the ongoing challenges in portfolio construction: manager selection. Historical performance can help inform research, but it does not remove uncertainty about future results.
Spreading exposure across multiple high-quality managers can reduce the risk of being overly reliant on selecting one future standout.
For clients, this may lead to a more consistent experience over time. That can be particularly valuable for clients who are KiwiSaver members, where investment decisions are made over decades rather than short periods.
A multi-manager approach can also support stronger client engagement. For some clients, a portfolio built across multiple managers may feel more tailored than a single-provider solution – which can create greater confidence in how their KiwiSaver portfolio is built and managed.
More flexibility for advisers
A practical advantage of a multi-manager solution is the ability to adjust a portfolio without requiring a full KiwiSaver provider switch.
Instead of moving a client from one provider to another, advisers may be able to refine allocations within the existing structure.
This can support:
• Tactical portfolio adjustments
• Alignment with changing client preferences
• Ongoing portfolio refinement without unnecessary disruption.
This flexibility can also help make adviser conversations more practical. Rather than being limited to a single manager solution, advisers can build portfolios that better reflect different investment styles, client preferences, and long-term objectives.
Considering the additional cost
A common question is whether the additional 20 basis points represents good value for clients.
That consideration needs to be assessed in the context of what the structure is designed to provide.
The additional cost is not simply about access to more funds. It reflects features such as:
• Access to a curated selection of managers
• Diversification at the manager level
• Flexibility to adjust portfolios within the existing structure
• Ongoing oversight and portfolio management
No investment approach can guarantee stronger future performance, and fees should always be considered carefully. However, for some clients, the value of broader diversification, adviser flexibility, and a potentially smoother long-term experience may justify the additional cost.
Why GoalsGetter?
The GoalsGetter KiwiSaver Scheme was designed to support a multi-manager approach for advisers.
It combines:
• Access to a curated selection of fund managers
• Due diligence and ongoing oversight
• Adviser-centric tools and flexibility
• A fully digital onboarding experience.
This enables advisers to build more personalised KiwiSaver portfolios while maintaining a streamlined experience for clients.
A final thought
A multi-manager approach is not about adding complexity for its own sake. It is about applying diversification more broadly by considering not only what a client is invested in, but who is making the investment decisions.
For advisers, that can create a more flexible and transparent way to build KiwiSaver portfolios around client needs. For clients, it can provide access to a portfolio structure designed to reduce reliance on a single manager and support a more considered long-term investment journey.
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