For advisers
Each adviser receives two reports from Kernel every month:
Fees/Expense Report - a breakdown of any advisor fees owed and/or paid.
KiwiSaver client reporting - the total KiwiSaver balance for all clients under the adviser group.
We can provide these reports securely in a way that suits you. Our recommendation is a shared SharePoint folder, where we upload the reports on a regular monthly schedule. Alternatively, we can also email the reports to you.
Advisers can also download KiwiSaver client reports directly from the Portal. These reports would be specific to the client's KiwiSaver account.
For clients
Clients can view all transactions and adviser fees in the Kernel platform, similar to direct retail clients. The adviser fee appears as a line item in the 'Full breakdown' drawer within the 'KiwiSaver tab', alongside contributions, withdrawals, earnings and tax paid.
Clients can export both Invest and KiwiSaver reports from the platform, and adviser fees will appear as a line item in these reports.
The Annual KiwiSaver Statement shows the adviser fee as an 'individual action fee'.
Reports can be downloaded from the 'Reports' tab in the client’s Profile & Settings.