Archive - 2009
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February 2009
02 Feb 2009 Meridian offers fixed-rate notes
02 Feb 2009 AIG Life changes commission structure
02 Feb 2009 Shifting of responsibilities at AXA
02 Feb 2009 News Round Up
January 2009
30 Jan 2009 Home-building approvals fall to record low
30 Jan 2009 Cheap money, cheap houses
30 Jan 2009 Investors to apply collective pressure to ING
29 Jan 2009 Bollard slashes rates citing global recession
29 Jan 2009 OCR reduced to 3.5%
29 Jan 2009 ING defends CDO funds
29 Jan 2009 Book: Living off the Smell of an Oily Rag in NZ
29 Jan 2009 OCR reduced to 3.5%
28 Jan 2009 CBS Canterbury enters wars
28 Jan 2009 Who should be the commissioner of advisers?
28 Jan 2009 Worst of downturn over: AMP
27 Jan 2009 FNZ goes for $34 million
26 Jan 2009 Wizard brokers stick together
26 Jan 2009 News Round Up
26 Jan 2009 NZ’s rising unemployment will sap housing demand, ANZ says
25 Jan 2009 Another humungous rate cut expected
23 Jan 2009 ASB PIEs all its TD rates
23 Jan 2009 MED prepares ground for commissioner
23 Jan 2009 Investors opt for safety of bricks and mortar
22 Jan 2009 NZMBA sacks its ceo
22 Jan 2009 Positive predictions for property
22 Jan 2009 Harris goes Spicers
22 Jan 2009 Liontamer back in NZ hands
22 Jan 2009 Up-market subdivision selling at mortgagee
21 Jan 2009 Home loan report: Keeping eyes open
21 Jan 2009 Three new members for BT team
21 Jan 2009 Domestic bonds tops in Oz: Morningstar
21 Jan 2009 Tower has new CFO
21 Jan 2009 Home loan report: Keeping eyes open
19 Jan 2009 What does 2009 hold?
19 Jan 2009 News Round Up
16 Jan 2009 New key account manager for Tower
16 Jan 2009 ING fences off funds as CFO takes charge
15 Jan 2009 Market Review: January 2009 Commentary
15 Jan 2009 Market Review: London January 2009 Commentary
15 Jan 2009 Home sales edge higher in December, prices slip
15 Jan 2009 REINZ residential highlights - December 2008
15 Jan 2009 House prices fall 7.4% in 2008; December sales tumble
15 Jan 2009 QV value growth for December 2008
15 Jan 2009 Bought or buying investment property?
15 Jan 2009 Global speculative-grade default rate picked to soar
15 Jan 2009 Dorchester makes two GM appointments
14 Jan 2009 Home-building approvals rise in November
14 Jan 2009 More bad news for credit funds
14 Jan 2009 Opinion: Yes we can...
14 Jan 2009 Decisions looming for borrowers
13 Jan 2009 Decisions looming for borrowers
13 Jan 2009 Last Bastion for Equitable
13 Jan 2009 NZ credit rating outlook lowered by S&P
13 Jan 2009 Insurance tax bill may be delayed
13 Jan 2009 AIA bonds offer 7.25%
13 Jan 2009 Get real, get ready – ING consultant warns advisers
12 Jan 2009 Auckland house sales, prices fell in December
12 Jan 2009 Chris Smith back to UK
11 Jan 2009 Weekly Wrap: Some good news to start with
09 Jan 2009 FDR intl bond funds a better option: Tower
08 Jan 2009 Geneva posts $7.7m loss
08 Jan 2009 Mercer appoints new NZ head
08 Jan 2009 Huge growth in bank deposits comes with warning
07 Jan 2009 Power promises bipartisan approach to adviser regs
06 Jan 2009 IRD planning crackdown on insurance advisers
06 Jan 2009 Changes needed in 2009 for unhealthy homes
05 Jan 2009 TSB Bank lifts profits, mortgage book little changed in September Qtr
Latest News
Can AI pick the best KiwiSaver provider?
Can AI pick the best KiwiSaver provider?
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[Weekly Wrap] What we know, and don't know, about Labour's retirement policies. Plus a potential surprise
[Weekly Wrap] What we know, and don't know, about Labour's retirement policies. Plus a potential surprise
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NZX aims for 5% of KiwiSaver market in three-to-five years
NZX aims for 5% of KiwiSaver market in three-to-five years
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Trust in AI’s decision making not keeping pace with adoption
Trust in AI’s decision making not keeping pace with adoption
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Latest Comments
FE Investments in receivership
Fei , trustees still hold large of money not yet refund fully.
1 week ago Raymond Yang
Who is responsible for notifying policy changes?
There is no doubt the obligation is on the insurer who the contract is with. Clearly it would be prudent for an adviser to assist once given clear information by an insurer to assist with the communication but to extend this further. For an insurer to attempt to slide this onto an advisers plate is abdication. The adviser can not change the contract.
1 week ago Darryl Scott
FMA CEO on leave
At the risk of sounding like a broken record, the fundamental flaw in the legislation came about partly through the event that Murray mentions, and also through the negligence of the Select Committee in ignoring the single most cited recommendation in all the submissions (over 34% from memory) of drawing a distinction between product sales and financial advice. To add to their misdemeanour, the Committee then added a paragraph to the Bill confirming that recommendation of one product only constituted financial advice - or words to that effect. The inherent conflict of interest lies in an individual retained by a Class 4 licensee being required to adhere to a code of conduct that requires prioritisation of client interests. To expect a product sales person to subordinate their contractual obligation to their employer is unrealistic, unworkable, and unreasonable. To emphasise, I have no issue with a product provider marketing and selling their own products - but not behind the opaque veil of legislation intended to govern financial advice. If MBIE ever gets around to review FSLAA, Financial Advisers, FANZ, and all other interested stakeholders should mount a fully-funded intensive campaign to persuade our employees in Wellington to remove class 4 licensees from FSLAA, and replace their obligations within an amended CoFI Act.
2 weeks ago David Whyte
FMA CEO on leave
@Murray: The reps seemed to be acting on their personal interests rather than the interests of advisers. Conflict of interest, isn't it?
2 weeks ago w k
KiwiSaver funds shake off Middle East tension
In this recent presentation of mine https://www.knowrisk.co.nz I show that the average Balanced KiwiSaver fund has added approximately +0.43% over and above the gross average policy Benchmark's return's. However, the averge annual costs of -0.97% for Balanced funds have eroded that to be slighly below BMK after costs consistent with typical SPIVA studies. Note this cost number is for the 45 Balanced Funds used only - for all KiwiSaver Funds it is closer to -0.70% p.a. The presentation goes on to show that quite a bit of return is being left on the table by the one size fits all view of risk.
3 weeks ago P Urbani