KAN chair calls for financial advisers to be exempt from CoFi
David Seymour's Ministry for Regulation should exempt Class 1 and Class 2 financial advice providers (FAPs) from complying with the Financial Markets (Conduct of Institutions) Amendment Act 2022 (CoFi), according to consultant David Whyte.
Class 1 FAPs are sole advisers while Class 2 providers are groups of advisers.
Whyte, who chairs the Kiwi Advice Network (KAN) and owns the DCW Management consultancy, says that only the financial product advisers should have to comply with CoFi.
Advisers already have “a clear fiduciary duty to represent their clients' interests” under other financial services legislation, such as ...MORE»
Retail investors seek relative safety in managed funds and ETFsTuesday, October 15th, 4:23PM
Sharesies’ latest quarterly index shows the platform’s retail investors have become increasingly shy on company-specific investment, favoring a diversified approach in what’s been a volatile period for markets. MORE» |
Tattoo removal and IVF companies are part of Generate's new PE dealFriday, October 11th, 3:46AM
Generate KiwiSaver makes another investment into private equity. MORE» |
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New Zealand Equity Monthly September 2024
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Southern Cross Health Society Group annual results reflect steep increase in demand for private healthcare
Today Southern Cross Health Society Group (“Group”) shares its annual results for the year ended 30 June 2024, highlighting extraordinary growth in claims over the year; in volume and value. MORE »
How Kiwis can invest in the world’s best companies
Stephen Arnold, Founder and Chief Investment Officer at Aoris Investment Management, explains the quality approach that sets its global equity investment strategy apart. MORE »
Smart advisers spice up offerings with SME lending
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NZX’s Smart links up with iShares to launch new funds
Smart, formerly SmartShares, is launching four new ETFs in a new strategic alliance with BlackRock's iShares.
BlackRock-owned iShares increases its reach into the New Zealand market offering three ETFs through Smart.
The ETFs are sector focussed investing in Bitcoin, gold and technology. A fourth new ETF tracks the NZX20.
Smart, plans to list the new ETFs on October 24.
“The combined expertise of Smart and iShares will pair Smart’s local investment insights with iShares’ global ETF line-up, ...MORE»
Advisers frustrated with NZCFS L5 markingWednesday, October 9th, 6:19AM 3 comments
South Island FAPs say NZ Certificate of Financial Service L5 marking is taking too long and is inconsistent. MORE» |
Sharesies KiwiSaver to offer self-select for US sharesTuesday, October 8th, 1:57PM
Sharesies KiwiSaver is ramping up exposure to the US, and will allow members to select individual US stocks, as well as a new Sharesies US500 fund based on the Vanguard S&P 500 ETF (VOO). MORE» |
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Fin Advice partnership extended
Financial Advice New Zealand extends partnership with Massey University’s Fin-Ed Centre. MORE»
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[GRTV] Stronger and more unified voice needed to force KiwiSaver changes
The Retirement Commissioner Jane Wrightson talks to Philip Macalister about changes she would like to see made to KiwiSaver. MORE»
Why the Reserve Bank should cut interest rates by a further 1% before Christmas
Last week the RBNZ came through with a “super-sized” rate cut of 0.5% that many economists proclaimed they had predicted. The move was not exactly a huge call given the state of the economy. Another 25bps was arguably an option, and investors took heart that the cut was larger. A more aggressive central provides a prospective tailwind for exporters. Falling interest rates significantly boost the appeal of high dividend companies. MORE»
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Don’t overlook impact of TPD, adviser urges
Total and permanent disability (TPD) cover is something that might be being underestimated by a lot of clients and their insurance advisers, says Travis Hamilton of Plan B Financial Services. MORE»
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Basecorp gets more funding for short-term mortgages
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FMT adds another investment director
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Tattoo removal and IVF companies are part of Generate's new PE deal
Generate KiwiSaver makes another investment into private equity. MORE»