Former Tower chief executive Sam Stubbs launched a low-fees KiwiSaver fund called Simplicity in 2016. New Zealand Herald Photograph by Doug Sherring.
Former Tower chief executive Sam Stubbs launched a low-fees KiwiSaver fund called Simplicity in 2016. New Zealand Herald Photograph by Doug Sherring.
Leading questions — Business leaders discuss the year just gone and what will affect them in 2017. Today: Simplicity KiwiSaver boss and former Tower chief executive Sam Stubbs
What is 2017 looking like for your business?
Extremely positive. We have exceeded our targets for launch, and have a 10 times growth target for funds under management next year.
How does that compare with 2016? How did last year shape up for you and your staff?
[It was] avery exciting year launching a disruptive business model into an expensive, sleepy and complacent industry.
What are the issues affecting your industry and what impact are these likely to have over the next 12 months?
Complacency plagues our industry, while incumbents hold onto market share and high profit margins. Our industry is ripe for disruption, and those that don't embrace it will suffer mightily. 2017 is the year KiwiSavers will start taking back control of their retirement savings.
Going into an election year, what are the three biggest issues the Government needs to solve?
• Closing the ever-widening poverty gap. If the rich get richer, the poor will get the picture, and then the pitchforks.
• Keeping trade barriers open in a world where more and more want to close them.
• Keeping New Zealand a bastion of liberal democracy by ensuring that transparency and fairness are paramount, however difficult that might be at times.
What role does the business community have in tackling these problems?
The business community has a huge role to play in Track 2 and 3 diplomacy on trade, being realistic about Government spending, and playing their part in being responsible, caring employers.
