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Last Article Uploaded: Wednesday, October 16th, 9:02AM

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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.

Wednesday, October 16th, 6:06AM

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 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

Friday, October 11th, 3:46AM

Generate KiwiSaver makes another investment into private equity.

MORE»

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.

Thursday, October 10th, 6:00AM

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 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»

Sharesies KiwiSaver to offer self-select for US shares

Tuesday, 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

Wednesday, September 18th, 10:25AM

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

Friday, September 27th, 6:21AM

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

Monday, October 14th, 4:02PM

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

Wednesday, October 2nd, 10:11AM

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

Tuesday, October 15th, 7:02PM

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

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FMT adds another investment director

Tuesday, October 15th, 2:31AM

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

Friday, October 11th, 3:46AM

Generate KiwiSaver makes another investment into private equity. MORE»

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Latest Comments
  • CPI, it's simple, right?
    “Great topic JP. Indexing is a vital issue (especially of monthly disability claims) and one I find often given scant attention...”
    1 day ago by Steve Wright
  • Advisers frustrated with NZCFS L5 marking
    “It's the remarking that I am finding frustrating. Why does it have to take another two weeks to get it remarked if you have...”
    2 days ago by SharnS
  • Advisers’ role clarified by select committee
    “A good part of this appears to lack the distinction between life and general insurance and the quite different operating...”
    4 days ago by JPHale
  • Advisers frustrated with NZCFS L5 marking
    “@Aggressively_passive I think you might be falling into the trap of not knowing what you don’t know. And yes, there is...”
    5 days ago by John Milner
  • Advisers frustrated with NZCFS L5 marking
    “THAT's what they're frustrated with? Taking a few weeks to get your marks? WTF I'm frustrated that the material was...”
    7 days ago by Aggressively_passive
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