NZ Herald
  • Home
  • Latest news
  • Herald NOW
  • Video
  • New Zealand
  • Sport
  • World
  • Business
  • Entertainment
  • Podcasts
  • Quizzes
  • Opinion
  • Lifestyle
  • Travel
  • Viva
  • Weather

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • New Zealand
    • All New Zealand
    • Crime
    • Politics
    • Education
    • Open Justice
    • Scam Update
  • Herald NOW
  • On The Up
  • World
    • All World
    • Australia
    • Asia
    • UK
    • United States
    • Middle East
    • Europe
    • Pacific
  • Business
    • All Business
    • MarketsSharesCurrencyCommoditiesStock TakesCrypto
    • Markets with Madison
    • Media Insider
    • Business analysis
    • Personal financeKiwiSaverInterest ratesTaxInvestment
    • EconomyInflationGDPOfficial cash rateEmployment
    • Small business
    • Business reportsMood of the BoardroomProject AucklandSustainable business and financeCapital markets reportAgribusiness reportInfrastructure reportDynamic business
    • Deloitte Top 200 Awards
    • CompaniesAged CareAgribusinessAirlinesBanking and financeConstructionEnergyFreight and logisticsHealthcareManufacturingMedia and MarketingRetailTelecommunicationsTourism
  • Opinion
    • All Opinion
    • Analysis
    • Editorials
    • Business analysis
    • Premium opinion
    • Letters to the editor
  • Politics
  • Sport
    • All Sport
    • OlympicsParalympics
    • RugbySuper RugbyNPCAll BlacksBlack FernsRugby sevensSchool rugby
    • CricketBlack CapsWhite Ferns
    • Racing
    • NetballSilver Ferns
    • LeagueWarriorsNRL
    • FootballWellington PhoenixAuckland FCAll WhitesFootball FernsEnglish Premier League
    • GolfNZ Open
    • MotorsportFormula 1
    • Boxing
    • UFC
    • BasketballNBABreakersTall BlacksTall Ferns
    • Tennis
    • Cycling
    • Athletics
    • SailingAmerica's CupSailGP
    • Rowing
  • Lifestyle
    • All Lifestyle
    • Viva - Food, fashion & beauty
    • Society Insider
    • Royals
    • Sex & relationships
    • Food & drinkRecipesRecipe collectionsRestaurant reviewsRestaurant bookings
    • Health & wellbeing
    • Fashion & beauty
    • Pets & animals
    • The Selection - Shop the trendsShop fashionShop beautyShop entertainmentShop giftsShop home & living
    • Milford's Investing Place
  • Entertainment
    • All Entertainment
    • TV
    • MoviesMovie reviews
    • MusicMusic reviews
    • BooksBook reviews
    • Culture
    • ReviewsBook reviewsMovie reviewsMusic reviewsRestaurant reviews
  • Travel
    • All Travel
    • News
    • New ZealandNorthlandAucklandWellingtonCanterburyOtago / QueenstownNelson-TasmanBest NZ beaches
    • International travelAustraliaPacific IslandsEuropeUKUSAAfricaAsia
    • Rail holidays
    • Cruise holidays
    • Ski holidays
    • Luxury travel
    • Adventure travel
  • Kāhu Māori news
  • Environment
    • All Environment
    • Our Green Future
  • Talanoa Pacific news
  • Property
    • All Property
    • Property Insider
    • Interest rates tracker
    • Residential property listings
    • Commercial property listings
  • Health
  • Technology
    • All Technology
    • AI
    • Social media
  • Rural
    • All Rural
    • Dairy farming
    • Sheep & beef farming
    • Horticulture
    • Animal health
    • Rural business
    • Rural life
    • Rural technology
    • Opinion
    • Audio & podcasts
  • Weather forecasts
    • All Weather forecasts
    • Kaitaia
    • Whangārei
    • Dargaville
    • Auckland
    • Thames
    • Tauranga
    • Hamilton
    • Whakatāne
    • Rotorua
    • Tokoroa
    • Te Kuiti
    • Taumaranui
    • Taupō
    • Gisborne
    • New Plymouth
    • Napier
    • Hastings
    • Dannevirke
    • Whanganui
    • Palmerston North
    • Levin
    • Paraparaumu
    • Masterton
    • Wellington
    • Motueka
    • Nelson
    • Blenheim
    • Westport
    • Reefton
    • Kaikōura
    • Greymouth
    • Hokitika
    • Christchurch
    • Ashburton
    • Timaru
    • Wānaka
    • Oamaru
    • Queenstown
    • Dunedin
    • Gore
    • Invercargill
  • Meet the journalists
  • Promotions & competitions
  • OneRoof property listings
  • Driven car news

Puzzles & Quizzes

  • Puzzles
    • All Puzzles
    • Sudoku
    • Code Cracker
    • Crosswords
    • Cryptic crossword
    • Wordsearch
  • Quizzes
    • All Quizzes
    • Morning quiz
    • Afternoon quiz
    • Sports quiz

Regions

  • Northland
    • All Northland
    • Far North
    • Kaitaia
    • Kerikeri
    • Kaikohe
    • Bay of Islands
    • Whangarei
    • Dargaville
    • Kaipara
    • Mangawhai
  • Auckland
  • Waikato
    • All Waikato
    • Hamilton
    • Coromandel & Hauraki
    • Matamata & Piako
    • Cambridge
    • Te Awamutu
    • Tokoroa & South Waikato
    • Taupō & Tūrangi
  • Bay of Plenty
    • All Bay of Plenty
    • Katikati
    • Tauranga
    • Mount Maunganui
    • Pāpāmoa
    • Te Puke
    • Whakatāne
  • Rotorua
  • Hawke's Bay
    • All Hawke's Bay
    • Napier
    • Hastings
    • Havelock North
    • Central Hawke's Bay
    • Wairoa
  • Taranaki
    • All Taranaki
    • Stratford
    • New Plymouth
    • Hāwera
  • Manawatū - Whanganui
    • All Manawatū - Whanganui
    • Whanganui
    • Palmerston North
    • Manawatū
    • Tararua
    • Horowhenua
  • Wellington
    • All Wellington
    • Kapiti
    • Wairarapa
    • Upper Hutt
    • Lower Hutt
  • Nelson & Tasman
    • All Nelson & Tasman
    • Motueka
    • Nelson
    • Tasman
  • Marlborough
  • West Coast
  • Canterbury
    • All Canterbury
    • Kaikōura
    • Christchurch
    • Ashburton
    • Timaru
  • Otago
    • All Otago
    • Oamaru
    • Dunedin
    • Balclutha
    • Alexandra
    • Queenstown
    • Wanaka
  • Southland
    • All Southland
    • Invercargill
    • Gore
    • Stewart Island
  • Gisborne

Media

  • Video
    • All Video
    • NZ news video
    • Herald NOW
    • Business news video
    • Politics news video
    • Sport video
    • World news video
    • Lifestyle video
    • Entertainment video
    • Travel video
    • Markets with Madison
    • Kea Kids news
  • Podcasts
    • All Podcasts
    • The Front Page
    • On the Tiles
    • Ask me Anything
    • The Little Things
  • Cartoons
  • Photo galleries
  • Today's Paper - E-editions
  • Photo sales
  • Classifieds

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In
Advertisement
Advertise with NZME.
Home / Business / Markets

Forsyth Barr launches Sharesies competitor with robo-advice

Madison Malone
By Madison Malone
Senior Business Journalist, host of Markets with Madison·NZ Herald·
13 Aug, 2023 06:26 PM3 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  Sign in here

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save

    Share this article

    Reminder, this is a Premium article and requires a subscription to read.

Forsyth Barr's DIY investment app Tempo charges a flat, uncapped, 0.85 per cent fee, and additional fees per funds invested in.

Forsyth Barr's DIY investment app Tempo charges a flat, uncapped, 0.85 per cent fee, and additional fees per funds invested in.

After more than three years in development and millions of dollars spent, major investment firm Forysth Barr has spun out an investing app to compete with Sharesies.

The app called Tempo leverages Forsyth’s existing financial advice provider licence, allowing it to make ongoing investment recommendations to users - a feature few online DIY investment services are allowed to have.

“We have established Tempo as we believe it will appeal to a broad spectrum of New Zealanders and make our expertise available to those that are working hard to accumulate wealth or achieve a financial goal.” Forsyth Barr managing director Neil Paviour-Smith said.

The app has launched to select customers by invitation-only, however, was expected to launch widely in a matter of days following regulation protocols.

Users would be required to follow all anti-money laundering regulations, such as proving their identity, and were asked questions about their risk profile and financial goals.

Advertisement
Advertise with NZME.

Based on the answers, the app recommended a mix of 15 funds for the user to invest in - some of which were managed by Octagon Investment Funds, Forysth Barr’s boutique service.

Tempo collected a flat, uncapped 0.85 per cent management fee on money invested, while additional fees were also charged per fund invested into, which varied depending on the manager and whether the fund was actively managed or not.

The user could tailor the portfolio mix, and deposit or withdraw money at any time, however the app did not allow them to have a conversation with a Forsyth Barr financial adviser.

Advertisement
Advertise with NZME.

Investor’s money would be held with the third-party custodian Adminis - the same as passive DIY investment platform Kernel.

Forsyth head of wealth development Chelsea Leadbetter said this was not Forsyth’s means of catching up to Sharesies and other DIY investing apps, rather it was a means to make Forsyth’s advice more accessible to more customers.

“I wouldn’t say it was related to competition per se ... It was really about looking at how we help more people and make it [investing] more accessible in terms of advice.

“What’s changed over the last three years or so is clearly the retail investing market. But, this idea was certainly before that.”

A survey of 1000 New Zealanders conducted for Tempo, showed the majority did not have a long-term financial plan, nor did they know how to start one.

Out of the respondents who had never invested in a sharemarket, 22 per cent did not know what companies to invest in.

“People want more confidence and fewer choices.” Blair Willems, head of Tempo, said.

He said it did not have an expectation for user sign ups.

Advertisement
Advertise with NZME.

Tempo would be operated as a subsidiary to Forsyth Barr with separate staff in different offices.

Save

    Share this article

    Reminder, this is a Premium article and requires a subscription to read.

Latest from Markets

Premium
Shares

Market close: Fletcher Building shares rise as NZ market gains momentum

11 Jun 06:46 AM
Premium
Shares

Market close: SkyCity loses spot on the 20

10 Jun 05:56 AM
Premium
Technology

Tech Insider: A $529 phone, bought in March, can only make 3G calls; IRD’s AI warning; Musk’s pain is Beck’s gain; a self-employed Wellington man scores a $16K Google Cloud refund

10 Jun 03:14 AM

Why Cambridge is the new home of future-focused design

sponsored
Advertisement
Advertise with NZME.

Latest from Markets

Premium
Market close: Fletcher Building shares rise as NZ market gains momentum

Market close: Fletcher Building shares rise as NZ market gains momentum

11 Jun 06:46 AM

There were 60 gainers on the main board and 60 decliners today.

Premium
Market close: SkyCity loses spot on the 20

Market close: SkyCity loses spot on the 20

10 Jun 05:56 AM
Premium
Tech Insider: A $529 phone, bought in March, can only make 3G calls; IRD’s AI warning; Musk’s pain is Beck’s gain; a self-employed Wellington man scores a $16K Google Cloud refund

Tech Insider: A $529 phone, bought in March, can only make 3G calls; IRD’s AI warning; Musk’s pain is Beck’s gain; a self-employed Wellington man scores a $16K Google Cloud refund

10 Jun 03:14 AM
Premium
Market close: Index reshuffle lifts Briscoe Group

Market close: Index reshuffle lifts Briscoe Group

09 Jun 05:57 AM
Clean water fuelling Pacific futures
sponsored

Clean water fuelling Pacific futures

NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • What the Actual
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven CarGuide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP