Ugly week ends on the sharemarket

The New Zealand sharemarket fared better than most in a week that saw a rout on Wall Street following the introduction of sweeping United States tariffs.

The day after the worst Wall Street sell-down in five years, the S&P/NZX 50 Index had a sharp fall at the opening and then traded steadily to close at 12,225.28, down 113.29 points or 0.92%.

There were 27.75 million share transactions worth $105.94m. The index declined 0.5% for the week and is now down 6.8% for the year.

Mark Lister, investment director with Craigs Investment Partners, said the ...MORE»

[The Wrap] Bouquets and brickbats in a big week; A challenge for advisers too Friday, April 4th, 5:02PM In true Wrap style this is a wrap of the past week and it has been a big one. Philip Macalister hands brickbats and bouquets and offers up a challenge to advisers. MORE»

FMA to review access to financial advice Friday, April 4th, 9:00AM 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. MORE»

Level 5 cert insufficient for some advice areas

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.

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.

Last year, the Financial Advice Code Committee reviewed the standards of competence, knowledge, and skill in the code, asking for feedback from the sector on changes which will see more emphasis placed ...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 Tuesday, April 1st, 6:34AM 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. 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»

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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»