AI forecast to take care of majority of advisor loan deals

Artificial intelligence will be able to handle up to 80% of advisor loan deals within seven years according to the founder of Australasian asset loan broker LoanOptions.ai.

Julian Fayad told Good Returns a “vanilla” loan, where the applicant is in long-term employment and a high income earner could be managed by AI which can work faster and more smoothly than a person can.

“The shift will be that people will be still doing the role of the broker, but they’ll be using their own AI or the AI they license from other people who’ve built it, ...MORE»

KAN chair calls for financial advisers to be exempt from CoFi Wednesday, October 16th, 6:06AM  2 comments 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. MORE»

Retail investors seek relative safety in managed funds and ETFs Tuesday, 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 deal

Generate KiwiSaver makes another investment into private equity.

Generate KiwiSaver Scheme is committed US$25 million in to Australian-based HEAL Partners Fund II which specialises in health and education investments.

The fund  isca late-stage growth and follow-on fund, and has raised A$200 million and is targeting A$350million to A$500 million in commitments.

Generate has now committed more than $120 million into private equity and venture capital funds ...MORE»

NZX’s Smart links up with iShares to launch new funds Thursday, October 10th, 6:00AM Smart, formerly SmartShares, is launching four new ETFs in a new strategic alliance with BlackRock's iShares. MORE»

Advisers frustrated with NZCFS L5 marking Wednesday, 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»

News Bites

Fin Advice partnership extended

Financial Advice New Zealand extends partnership with Massey University’s Fin-Ed Centre. MORE»

GoodReturns TV

[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»

TMM Online

Basecorp gets more funding for short-term mortgages

Basecorp Finance secures additional $50m funding for short-term mortgages, reduces rates MORE»

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FMT adds another investment director

Former adviser joins FMT to build its investment offering in Christchurch and the South Island. MORE»

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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»