Share Club #4—Kendall Flutey and Raf Manji

On 29 May, we took Share Club to Christchurch for the first time—and what a fantastic time we had! 😊

Kendall Flutey—Who taught you about money?

The first speaker was Kendall Flutey, the co-founder and CEO of Banqer. Banqer is an online financial education platform empowering more than 150,000 primary students around Australasia. Kendall opened her first term deposit at 10-12 years old, and bought her first shares at 15.

She told us about how financial habits and behaviours are shaped in the first seven years of our lives. Over the years, we watch those around us (usually our parents), learn from how they do things, and then apply these lessons to our own lives. A lot of the time, our parents or guardians are our financial role models, but we also teach ourselves through trial and error. So it’s important to be aware of where we’ve picked up our financial behaviours and habits, and understand that through making smart financial decisions over time, we’ll grow our confidence, capability, and overall wealth.

Kendall also shared some interesting insights into the state of NZ’s financial literacy. She told us that most young people with KiwiSaver accounts don’t know who their provider is, and, fun fact, if we could take 10% of the least financially literate people in our society and raise their financial literacy by roughly 15%, it would add $5 billion to our economy. Through education, we can empower people to make better financial decisions.

All in all, Kendall emphasised that financial education is important because the best time to invest is when you feel empowered to do so. The challenge set for us by Kendall was to not only kick-start our own financial journeys—but to inspire as many people as we can to kick-start theirs! 🍍

Raf Manji—From the past, to the future

Raf Manji is a Christchurch City Councillor who spent 11 years trading global markets in London. Raf took us through how learning from past mistakes can make you a better investor in the future.

He explained to us the difference between trading and investing, and how trading is “manic and 24/7”, but investing is about the long-term view of the world, with a vision of where you want to end up in the future.  

Raf shared some of the investing fundamentals that he’s found through his experiences—timing, ‘cash is king’, and being aware of global risks.


Working as a stockbroker during the 1987 crash, Raf has seen how NZ still shows scars of that time. It shows in our lack of confidence, and in how people began to move towards investing in property instead of shares. Raf showed us a graph of the NASDAQ in 2001, showing a major drop in the market, and explained how if you were to be super aware of managing your investments throughout that dip, you would have freaked out. But if you were investing for the long run, that dip wouldn’t even matter because the market went back up! 📈

Cash is king

When looking at a company to invest in, Raf said that it’s important to look at the money that a company holds, and how much of it they have. He used the example of Dick Smith and said that even if a business is built on a good idea, if they don’t have enough cash, it won’t make a good business. He also mentioned being curious about what people are spending their money on. What’s in demand? What’s ‘in’?

Being aware of global risks

There will always be risks when you’re investing. Over time, things will change, and global events will happen that will affect the market. Some of Raf’s examples were cyber warfare, terror attacks, a financial crash, nuclear stand-offs, and environmental disasters. But a lot of these risks have always been risks throughout history, so they shouldn’t put you off investing for the long term.

That’s a wrap

Thanks to Exchange Christchurch for hosting us, and Six Barrel Soda for the scrumptious drinks.

If you’ve got any feedback, we’d love to hear from you—especially if you have suggestions for speakers, topics, and locations for future Share Club events! Send an email to [email protected].

We’ll continue to take Share Club around the country, so keep your eyes peeled! 👀💖