More unethical behaviour from Milford Asset Murkiness

The tip line is running hot with financial industry people contacting us with snippets of unethical practices by Milford Asset Murkiness, excuse me, Management. Thank you for the tips – we are working to ensure the FMA is made aware of some of the alleged behaviour of Milford.

One of the more intriguing tipoffs is the proven ambush marketing Milford are engaging in with paid Google search.

There is widespread abuse by Milford in ambush marketing using Google search. This is where they use the name of one of their competitors in their own paid search result to try and confuse the person searching about Kiwisaver.

For example, one of the smaller but fast growing Kiwisaver funds operators is a firm called Generate. I?ve never heard of them before now, but they?re obviously getting some traction as they?ve won some awards recently. But tellingly, they are the victim of Milford?s ambush marketing.

If you go to Google and search for “Generate Kiwisaver”, the first link that comes up is an ad for Milford. That?s not surprising, companies will often invest heavily in making sure their own name comes up ahead of competitors in Google searches relevant to their industry.

But what the Milford Ad says is very interesting and raises questions about their ethics.

Apparently, they call themselves in their ad ?Milford Generate Kiwisaver?.

unnamed-8

There?s nothing about the Milford Kiwisaver product that uses the word generate. The page that is linked to from the ad link is the Milford main page, and it doesn?t even use the word ?generate” in any form. It?s simply a ruse to try and deceive Kiwisaver members about which scheme they are planning to join.

But Milford just aren?t trying to deceive the boutique fund managers. They?re doing it to big firms too

A major competitor to Milford is Fisher Funds. They too are victims of Milford?s unethical ambush marketing.

unnamed-9

Milford brazenly are touting the ?Milford Fisher Kiwisaver? as their ad that comes top of any search for Fisher Kiwisaver. Fisher Funds are a big company, so I don?t think they?ll be happy to learn that Milford?s are using their name to confuse potential investors.

Ditto too for the OneAnswer Kiwisaver scheme. Milford run ambush ads for “Milford Oneanswer?. One answer is owned by ANZ, so I?m sure a major bank will be happy to learn that a competitor is abusing their trademark.

unnamed-10

I think the FMA or the Commerce Commission might need to take a look at this Milford Murkiness.

You do have to start wondering why it is that the NZ Herald and NewstalkZB keep using this guy for commentary.

 

– tipline

31%
×