WEBVTT - Growing Sharesies, an update with Co-CEO's Brooke, Sonya & Leighton

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<v Speaker 1>Cura Tatou. Welcome to this special episode of Shared Lunch

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<v Speaker 1>called Brooker Hoo. I'm Brook Roberts, one of the co

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<v Speaker 1>founders and Coco's at Cheza's, and I'm really fortunate to

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<v Speaker 1>be here with the fellow co founders and co CEOs

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<v Speaker 1>of Chezia's, Leyton and Sonya. Usually we have some experts

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<v Speaker 1>or business leaders in, but I've got you lot also

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<v Speaker 1>experts and business when we're here. In this special episode,

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<v Speaker 1>we're going to peel back what we've been doing here

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<v Speaker 1>at Chezy's over the last year and talk a bit

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<v Speaker 1>about where we're going. And I've heard that there is

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<v Speaker 1>this box with some sweet competition that we're going to

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<v Speaker 1>have to have, which we know that we love a

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<v Speaker 1>bit of competition amongst us, so bring it on.

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<v Speaker 2>Investing involves a risk you might lose the money you

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<v Speaker 2>start with. We recommend talking to a licensed financial advisor.

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<v Speaker 2>We also recommend reading product disclosure documents before deciding to invest.

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<v Speaker 2>Everything you're about to see and here is current at

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<v Speaker 2>the time recording.

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<v Speaker 1>You might hear some jingles in the background. Sonya and

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<v Speaker 1>I are wearing antlea airs and some sweet as Christmas

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<v Speaker 1>tops that the team set us up in but Laton

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<v Speaker 1>has the most ridiculous head piece on that makes them

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<v Speaker 1>look like a Christmas tree. I don't really know how

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<v Speaker 1>to explain it, but why you calls themselves the star

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<v Speaker 1>of the shows because at the top of the Christmas

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<v Speaker 1>tree there's a star and he says he's here with

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<v Speaker 1>two goats and he's the star. So that is what

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<v Speaker 1>is audibly visually aptic right out.

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<v Speaker 3>You do both, and thankfully I haven't seen me.

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<v Speaker 1>Yet to kick off, Well, how are you feeling? How

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<v Speaker 1>has this here been? What are you been reflecting on?

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<v Speaker 1>Have you even got to that yet?

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<v Speaker 3>Look, firstly, I think the way investors on the investing

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<v Speaker 3>platform have stuck to their guns. We've grown the number

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<v Speaker 3>of auto investors on the platform for a tough economy,

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<v Speaker 3>and my personal view as we're coming out of that now,

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<v Speaker 3>and I know things are still tough out there, but

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<v Speaker 3>with interest rates dropping, inflation much lower, I think my

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<v Speaker 3>personal view again, we're probably at the start of an

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<v Speaker 3>ext good cycle, so an opportunity for some people to

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<v Speaker 3>really grow their wealth. And then I'll add one more,

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<v Speaker 3>which is cheersy's really becoming a wealth fap. So we've

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<v Speaker 3>got a bunch of people saving on the platform. We've

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<v Speaker 3>got a bunch of people ensuring their cars on the platform,

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<v Speaker 3>We've got a bunch of people saving for retirement in

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<v Speaker 3>their first home, and the key receiver, and I'm really

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<v Speaker 3>excited for all the things we can deliver over the

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<v Speaker 3>next year there too.

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<v Speaker 4>I'm personally feeling like I guess it's stunning in Wellington

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<v Speaker 4>at the moment, and that always brings quite a nice

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<v Speaker 4>vibe to the end of the year, sitting back, you

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<v Speaker 4>know where we started the air. Of course, there's been

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<v Speaker 4>so much that's happened in the external environment. There has

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<v Speaker 4>been a lot of change and shift about I think

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<v Speaker 4>really I'm coming into the year, especially like from Cheerze's perspective,

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<v Speaker 4>feeling really proud of what we've achieved as a team.

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<v Speaker 4>We started Cheersy's trying to make it easy to invest,

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<v Speaker 4>and I think the change that we're making now into

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<v Speaker 4>the future around really helping people grow their wealth and

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<v Speaker 4>laying some of the foundation for that. And this year

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<v Speaker 4>and over the past few years seeing that come to

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<v Speaker 4>life has been hugely impactful, and I really think so

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<v Speaker 4>that's feeling really great for us as a business, and

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<v Speaker 4>I think we're solving more needs for people at a

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<v Speaker 4>time where people are really thinking about money, and hopefully

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<v Speaker 4>we're having those money conversations in a really empowering way.

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<v Speaker 4>And that's the feedback I'm getting from people and bump

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<v Speaker 4>into them on the street when I'm wearing my Chess

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<v Speaker 4>t shirt, just to touch on how many like the

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<v Speaker 4>different ways that we try and create that shareholder relationship now.

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<v Speaker 4>So the number of people who have also been given

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<v Speaker 4>like staff shares through Chess now is really great. So

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<v Speaker 4>I think looking back seeing all those highlights of how

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<v Speaker 4>just were creating those different ways that people can touch

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<v Speaker 4>and get engaged with their money, I feel really toughed

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<v Speaker 4>about that.

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<v Speaker 1>Yeah, it's how about you. I don't feel like the

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<v Speaker 1>year's ended yet, you know, I still feel like there's

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<v Speaker 1>so much more to do. I mean, today we launched

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<v Speaker 1>PI Save. When this go's live will be few days old,

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<v Speaker 1>but within a few hours it's already got over ten

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<v Speaker 1>million dollars in it. It just shows the ways that we're

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<v Speaker 1>helping build our health happenings both of you mentioned actually

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<v Speaker 1>help people grow wealth. We've really started to deliver on

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<v Speaker 1>that heaps this year. We did start the year as

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<v Speaker 1>an investment platform. Really we had Key we Save added

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<v Speaker 1>at the end of last year, but now we do

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<v Speaker 1>have insurance save key we Savor, and we all look

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<v Speaker 1>at it through that lens of how do we actually

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<v Speaker 1>help people develop wealth? And so really chuffed with where

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<v Speaker 1>we've got to in that journey, but it also still

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<v Speaker 1>feels like day one to us. It's not even you know,

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<v Speaker 1>a tenth of the way of where we had our

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<v Speaker 1>initial aspirations of where Chess can go. So I can't

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<v Speaker 1>wait to start bringing more of that.

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<v Speaker 2>To life next year.

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<v Speaker 1>And then yah, working more with businesses because as we learned,

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<v Speaker 1>you know, a lot of companies they did want to

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<v Speaker 1>they do want to have better relationships with their retail investors,

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<v Speaker 1>and they do want to be able to have better

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<v Speaker 1>yeah communications with all their shareholders. And so it was

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<v Speaker 1>great to bring Orchestra into the shares as FA No

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<v Speaker 1>this year and you know, support companies, whether they're listed

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<v Speaker 1>or not on with their shareholder communications and management and

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<v Speaker 1>star share schemes, which ultimately, you know, we do really

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<v Speaker 1>hope that anybody's working in a company, part of their

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<v Speaker 1>rent package they get shares in't it. So it's quite

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<v Speaker 1>cool to start seeing that attraction towards that. So really

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<v Speaker 1>chuffed actually with how we've been progressing this year and

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<v Speaker 1>personally feel like I've just been out there. You know,

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<v Speaker 1>you were in Australia if you live there this year.

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<v Speaker 1>Any other things you want to share about this year.

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<v Speaker 4>Yeah, we have been growing our Australian business over the

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<v Speaker 4>last three years and so this year and you've Brook

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<v Speaker 4>and Land. I've spent time there already, but this year

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<v Speaker 4>I spent some time over with our Australian team, and

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<v Speaker 4>I think there's lots of ambition and aspiration in Australian culture.

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<v Speaker 4>I think there is, you know, so much kind of

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<v Speaker 4>desire and aspiration to grow wealth, and there are kind

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<v Speaker 4>of other platforms over there doing it, but no one

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<v Speaker 4>really playing in cheesea space, So I think that's it

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<v Speaker 4>just kind of speaks to the opportunity. And we've developed

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<v Speaker 4>some really great partnerships to date over there as well

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<v Speaker 4>and really kind of taking the Cheeseys brand over to Australia,

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<v Speaker 4>and we do have a fantastic team there. So we

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<v Speaker 4>also got our license to be able to operate, so

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<v Speaker 4>all the kind of pieces are falling into place. I

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<v Speaker 4>feel like Sunshine is my word at the moment, but

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<v Speaker 4>are like, there's definitely like sunshine through winter over there,

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<v Speaker 4>which was nice to experience. But you know, we've got

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<v Speaker 4>such a great product, such a great team, but also

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<v Speaker 4>such a like this big opportunity as well to really

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<v Speaker 4>make a difference here. So I think feeling really positive

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<v Speaker 4>about Australia in my time there.

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<v Speaker 2>So we love a game.

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<v Speaker 1>The Seared Lunch team have pulled together some questions for

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<v Speaker 1>us that we then write on our whiteboards what we

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<v Speaker 1>think the answers. Have got whiteboards here, each of us

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<v Speaker 1>with a red pen, and then we'll show them and

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<v Speaker 1>see who gets the answers, right, sonya you get to

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<v Speaker 1>open the first.

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<v Speaker 4>Do I think how many total buyers were placed this

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<v Speaker 4>year to date on Shesyes?

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<v Speaker 5>Real so later Billie's been the average trade size of

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<v Speaker 5>about six hundred dollars. You're fucking correct.

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<v Speaker 1>Across the Zealand in Australia.

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<v Speaker 5>Later, how many cells so.

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<v Speaker 2>Over thirty five millions?

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<v Speaker 3>Income investors?

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<v Speaker 4>Yeah, I must say I love when I get my

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<v Speaker 4>little notification. It's a highlight.

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<v Speaker 1>Dividends been paid in for your.

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<v Speaker 3>Wallets and on top of it that goes into the DRPs.

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<v Speaker 1>Yes, and a dividend reinvestment a DRP is when if

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<v Speaker 1>a company is paying out dividends, you can make that

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<v Speaker 1>money reinvested to buy more she is in the company.

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<v Speaker 1>So other three most widely held investments from our key

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<v Speaker 1>we investors this year, oh I had Smart which was

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<v Speaker 1>Smart shares ETFs, the NZ Top fifteen, US five hundred,

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<v Speaker 1>Smart US five hundred and New Zealand and Top fifty. Yeah,

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<v Speaker 1>and two of those funds were ones that were on

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<v Speaker 1>the two six and when we started shares Ease time

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<v Speaker 1>good point.

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<v Speaker 3>How much did our save customers make an interests this year?

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<v Speaker 1>So we paid out seven point five million in interest

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<v Speaker 1>this year. And pis save Frixley Baked, so pis save

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<v Speaker 1>We just we've just launched. The first day, it had

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<v Speaker 1>over ten million dollars deposited in the first few hours

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<v Speaker 1>of it launching. And a PI save means that the

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<v Speaker 1>top tax rate for a pie product PI text rate

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<v Speaker 1>is twenty percent. If your prescribed investor rate is higher

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<v Speaker 1>than twenty eightercent, then the max is twenty eightercent, So

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<v Speaker 1>that is where people can get a higher effective savings

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<v Speaker 1>rate essentially. So yeah, it's pretty cool that we've launched

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<v Speaker 1>that now how much was added to kiwisaver and this

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<v Speaker 1>is to Scheresy's Kiwi Saver. It is one hundred and

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<v Speaker 1>ten million.

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<v Speaker 4>So the quiz was a little bit of a little

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<v Speaker 4>bit of a stitch up the tree of wisdom over

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<v Speaker 4>here though.

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<v Speaker 3>Start of the show.

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<v Speaker 4>Turns out Brooke and I had the answers later that

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<v Speaker 4>was all just from his own mind. So finger on

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<v Speaker 4>the pulse, mate. It's fun fun to look back over

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<v Speaker 4>the year and like, the thing for us is what

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<v Speaker 4>those numbers will represent is our mission to create financial

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<v Speaker 4>empowerment for everyone. And all of those numbers moving in.

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<v Speaker 1>The right direction.

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<v Speaker 4>People engaging on the platform, getting paid, dividends, buying, selling,

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<v Speaker 4>owning companies, owning funds, all piecing it together to build

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<v Speaker 4>their wealth is so so important to us. And I

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<v Speaker 4>think all of us would say that we're just at

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<v Speaker 4>the beginning of that journey for Shareses, and so we're

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<v Speaker 4>keen to give a bit of a what's exciting you

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<v Speaker 4>for next year or for the future. We'll start with Europe.

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<v Speaker 1>Yeah. Cool. One thing we're working on at the moment,

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<v Speaker 1>it's really all on here at Cheesy's behind the scenes,

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<v Speaker 1>is the release of Spend, which will be coming next year.

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<v Speaker 1>So we've done a deal with master Card. We were

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<v Speaker 1>going to have a Cheesy's debit card which you can

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<v Speaker 1>have in your wallet or you know, or sweet as

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<v Speaker 1>physical card. And why I'm excited about this is I'm

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<v Speaker 1>really excited for people to see that the money that

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<v Speaker 1>they earn, all the money that they have, is their

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<v Speaker 1>wealth and then thinking about it rather than just money,

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<v Speaker 1>It's like my wealth and what am I doing with it?

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<v Speaker 1>And how do I, yeah, make sure that I'm investing

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<v Speaker 1>in the now and how we live life now, but

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<v Speaker 1>also how can we make sure that is setting us

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<v Speaker 1>up well for the future. And I think the way

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<v Speaker 1>that we think about money here and how we think

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<v Speaker 1>about wealth, I think once we have those insights, we're

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<v Speaker 1>we're really able to help people create really awesome financial habits,

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<v Speaker 1>which at the end of the day is what ultimately

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<v Speaker 1>develops wealth. So pretty excited for that. Yeah, what about you, laden.

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<v Speaker 3>Yes, I'm excited for that as well. And I'm excited

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<v Speaker 3>for I think I probably said this last year, but

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<v Speaker 3>things always take longer than what you think. Today is

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<v Speaker 3>the US markets into Kiwisaver, so that's going to include

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<v Speaker 3>the US five hundred fund, so which is that by far?

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<v Speaker 3>I think it's like there's three different versions of that

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<v Speaker 3>fund that are three of the most popular investments on

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<v Speaker 3>the platform, which is really really cool, and also some

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<v Speaker 3>self select options and there for people as well to

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<v Speaker 3>build their portfolios in a way they want, which is

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<v Speaker 3>really exciting. And again US markets are popular on the platform,

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<v Speaker 3>so we know they're going to be popular and heaps

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<v Speaker 3>people asking for them. So it's so fantastic to have

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<v Speaker 3>lots of epic local investment going into our own exchange.

0:11:51.679 --> 0:11:54.680
<v Speaker 3>We want to keep building that. But there's also lots

0:11:54.720 --> 0:11:59.440
<v Speaker 3>of lots of Kiwi who you know, who have founded

0:11:59.480 --> 0:12:03.400
<v Speaker 3>companies and then they've released them on to the US exchanges,

0:12:03.400 --> 0:12:05.080
<v Speaker 3>so available on the air, and of course there's lots

0:12:05.120 --> 0:12:06.880
<v Speaker 3>of people and you see them as well, who work

0:12:06.960 --> 0:12:09.760
<v Speaker 3>for companies offshore. So there's lots of reasons to like that.

0:12:10.280 --> 0:12:12.719
<v Speaker 3>Plus just the sheer market size an opportunity that comes

0:12:12.760 --> 0:12:14.240
<v Speaker 3>with us. I'm really really excited about that.

0:12:14.640 --> 0:12:17.480
<v Speaker 4>Nice What about you, Sonny, Just as you were saying that,

0:12:17.600 --> 0:12:20.360
<v Speaker 4>I thought of that quote of you underestimate what you

0:12:20.440 --> 0:12:23.559
<v Speaker 4>can deliver, yes in ten years and over, and do

0:12:23.679 --> 0:12:26.760
<v Speaker 4>estimate what you can deliver in a year. So yeah,

0:12:26.880 --> 0:12:29.120
<v Speaker 4>super excited for what's to come. And I think we

0:12:29.280 --> 0:12:31.400
<v Speaker 4>are ambitious in the one year end in the ten

0:12:31.480 --> 0:12:34.400
<v Speaker 4>years at Chea's, which is really cool. So hopefully we'll

0:12:34.440 --> 0:12:36.120
<v Speaker 4>deliver more than what we think we can in the

0:12:36.200 --> 0:12:38.880
<v Speaker 4>ten year. If we come even shorter that it would

0:12:38.880 --> 0:12:39.680
<v Speaker 4>be a beautiful place.

0:12:40.360 --> 0:12:40.680
<v Speaker 1>I think.

0:12:41.480 --> 0:12:43.720
<v Speaker 4>I'm really excited. Like you talked about how we're adding

0:12:43.840 --> 0:12:48.920
<v Speaker 4>spend to Chears's, and we're also developing the entire proposition

0:12:49.080 --> 0:12:52.600
<v Speaker 4>around that. So we talked about Cheesy's becoming a wealth app,

0:12:52.640 --> 0:12:55.560
<v Speaker 4>and that's just pushing that even further. It's looking at

0:12:55.679 --> 0:12:58.480
<v Speaker 4>how all those products connect to drive better outcomes for

0:12:58.559 --> 0:13:01.280
<v Speaker 4>you and your faro. So also how we connect you

0:13:01.679 --> 0:13:03.280
<v Speaker 4>to the people in your life, because we know that

0:13:03.360 --> 0:13:06.000
<v Speaker 4>that's really important as well. So we're seeing lots of

0:13:06.080 --> 0:13:08.199
<v Speaker 4>change coming in that space, looking at how we can

0:13:08.360 --> 0:13:12.520
<v Speaker 4>add rewards and make investing for the long term great

0:13:12.640 --> 0:13:16.040
<v Speaker 4>and the short term as well, and making sure that

0:13:16.120 --> 0:13:19.120
<v Speaker 4>people really do feel like they've got the tools and

0:13:19.240 --> 0:13:23.160
<v Speaker 4>the support and the motivation to really drive those outcomes

0:13:23.200 --> 0:13:25.760
<v Speaker 4>that they want for themselves and the people around them.

0:13:25.920 --> 0:13:29.760
<v Speaker 4>So I'm like super excited for next year. I always

0:13:29.800 --> 0:13:30.600
<v Speaker 4>say this a way.

0:13:31.880 --> 0:13:32.880
<v Speaker 1>I need a new win hat.

0:13:33.400 --> 0:13:36.199
<v Speaker 3>Yeah, I've got the Christmas tree now, but here's my

0:13:36.280 --> 0:13:38.640
<v Speaker 3>win hats down there, and I reckon it's going to

0:13:38.679 --> 0:13:41.600
<v Speaker 3>be a good year for people next year. I'm wishing

0:13:41.640 --> 0:13:42.520
<v Speaker 3>everyone all the best.

0:13:42.760 --> 0:13:45.040
<v Speaker 1>Course, So that's a rap for Shared Lunch twenty twenty four.

0:13:45.200 --> 0:13:47.559
<v Speaker 1>I want to give a massive shout out to everybody

0:13:47.600 --> 0:13:50.040
<v Speaker 1>who has been on these episodes this year, to our

0:13:50.080 --> 0:13:52.640
<v Speaker 1>Shared Lunch team who make it all happen, and to

0:13:52.840 --> 0:13:56.000
<v Speaker 1>the nearly five hundred thousand of you who have been

0:13:56.080 --> 0:13:58.640
<v Speaker 1>tuning in throughout the year. We can't wait to show

0:13:58.679 --> 0:14:01.280
<v Speaker 1>you what's in store for twenty two. And as you'll

0:14:01.600 --> 0:14:03.520
<v Speaker 1>you would have heard just before, we've got some really

0:14:03.559 --> 0:14:06.000
<v Speaker 1>cool things happening at Cheersy's. We've got some really interesting

0:14:06.040 --> 0:14:08.640
<v Speaker 1>conversations to have too, as we hopefully thrive in twenty

0:14:08.679 --> 0:14:08.880
<v Speaker 1>five