Why? The sad reality is conflicts of interest in the finance industry, which keep it from best serving its KiwiSaver members. Banks are the obvious example. If they want a big company as their client, they are much less likely to allow their KiwiSaver managers to criticise the management or board publicly. For over a decade now banks have dominated KiwiSaver, yet their advocacy on behalf of their members seems wafer thin. How many times can you remember a KiwiSaver manager from a bank publicly criticising a company they invest in? The irony here is that while their fund managers are employed by the banks, it’s their KiwiSaver members who ultimately pay them via fees. So whom are they really serving?