FMA to review access to financial advice

The regulator is launching a review to help it better understand why many New Zealanders are reluctant to access financial advice. The review will also delve into industry business models.

FMA chief executive Samantha Barrass told the Financial Advice New Zealand National Advisor Conference that it has been two years since the financial advice regulatory regime came into full effect and it is time to check in to see if it is delivering for consumers.

“Availability and quality of financial advice are cornerstones of the regime, and indeed written into the legislation’s purpose,” ...MORE»

Level 5 cert insufficient for some advice areas Thursday, April 3rd, 6:37AM Minimum industry entry requirements are not enough to qualify an adviser to give advice in some specialised areas but it looks unlikely the Financial Advice Code will change to raise the bar any higher. MORE»

Disclosure is not a tick box exercise: FMA Wednesday, April 2nd, 8:14AM  4 comments The regulator wants to see advisers avoid burying disclosure in lengthy documents full of jargon and consider finding more creative ways of getting the information across. MORE»

ETF guardrails open up possibilities

Multiple surveys out of the US show financial advisers’ appetite for crypto exposure is on the rise, with ETFs and the protections they offer seen as an effective way of exploring digital assets.

Multiple surveys out of the US show financial advisers’ appetite for crypto exposure is on the rise, with ETFs and the protections they offer seen as an effective way of exploring digital assets.

One recent industry poll by TMX VettaFi which tested adviser intentions, shows 57% plan on increasing their allocations into crypto ETFs, while 42% think they will maintain their position. Only 1% are ...MORE»

Pathfinder gets new shareholder Monday, March 31st, 8:41AM Rātā Foundation has acquired a 25% stake in Alvarium Management Holdings, the parent Pathfinder and Alvarium Wealth. MORE»

[The Wrap] CoFI starts as the regulator faces pressure Sunday, March 30th, 2:19PM It's a big week ahead with at start of CoFI Monday and of course the Financial Advice NZ conference in Christchurch. MORE»

News Bites

TA Associates deal to buy Craigs stake clears hurdles

Craigs Investment Partners shareholder have approved a proposal to sell a 50% share in the company to global private equity firm TA Associates. MORE»

GoodReturns TV

[GRTV] Antipodes portfolio manager discusses emerging markets fund's potential amid volatility

Antipodes Portfolio Manager John Stavliotis discusses the opportunities in emerging markets, their strong growth potential and diversification benefits.  MORE»

Passive Investing is Impassive on Valuation

It’s difficult to approach the topic of passive investing without acknowledging one’s own inherent bias. After all, careers have been built on the premise that active investing adds value. No matter how much we try and attempt to set biases aside – your author know they are unlikely to succeed. MORE»

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After short delay nib life takes off

nib says its new Ultimate Life and Living Insurance suite of products will be available to advisers from Wednesday after, after delaying the initial launch date. MORE»

TMM Online

Three offers recommendation lost in translation - ComCom

The Commerce Commission says its proposal that advisers have to submit three offers to clients has been "lost in translation". MORE»

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Ballantyne receives top award

Financial Advice NZ handed out its annual excellence awards with Naomi Ballantyne receiving the Lifetime Achievement Award. MORE»

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KiwiSaver or KiwiTaxer? The changes high on adviser wishlists

There remains no real incentive for clients to direct extra contributions into KiwiSaver, so long as New Zealand is still a global outlier in its choice of tax structure around retirement savings, according to one financial advisory firm leader. MORE»