Aeon Bank pushing active funds

[beanhead]

Interesting video on Aeon Bank's webpage.
When I spoke to Aeon about a house loan, they asked me to do some investments with them. I explained that I had started iDeCo and NISA with Rakuten, and they quickly cooled down.
They said that their offerings were aimed at investment beginners. They were trying to prise some of those savings from post office accounts, rather than compete with the big online brokers.
So I think it is a bit odd that this video suggests that active funds are better than passive funds.

https://www.aeonbank.co.jp/seminar/web_ ... 0714_01_02

[RetireJapan]

...investment beginners.

Ah, people they can easily rip off!

[TokyoBoglehead]

Banks often try to convince Japanese depositors with high account balances to at least buy JGBs or Term-Deposits. Which is probably better than nothing.

The insurance products and active funds are criminal though. There was a shakeup at Yucho over that.

Yucho has never asked me....squat about squat. I know there is a lot of hate for Yucho, but they are EVERYWHERE, and the connect very well with online brokers and services.

Mizuho, pesters you to invests with them. Very annoying.

[RetireJapan]

Really interestingly, my local bank 77 Bank (I hate them) just called me up about some exciting opportunities. Presumably they noticed my larger than normal cash balance

To my regret I was busy and told them not to call me any more. Might have made a good blog post if I had heard them out

[Roger Van Zant]

My bank tried to get me to buy into some awful fund they were promoting. I forget the interest rate now, but I recall there being zeros after the decimal point! I told them I already have an iDeCo and t-NISA through SBI. The guy looked at me almost incredulously; like, how on earth do YOU know about such things?!
It's almost criminal how everyday Japanese customers are suckered into buying these investment products.

[zeroshiki]

I have accounts with Prestia and SMBC and I never go to the branches but the 2 times I went last year, both of them offered me NISA products. I guess this is how banks are trying to make money nowadays.

[beanhead]

The guy looked at me almost incredulously; like, how on earth do YOU know about such things?!

Sounds familiar.
They brought out the investment product specialist to try and sell his wares.
I asked him if he had eMaxis Slim or something with similar coverage and costs. He looked bewildered. They have iFree, (Daiwa A.M. I think) which are not too bad, so I put a little bit in there to help them meet their targets.

When I explained to the investment guy that our portfolio is mostly equity, and I plan to change the AA later to have some bond coverage as we get closer to retirement, he said I am like a professional fund manager. I almost spit my oolong tea out laughing.