Archive - 2009
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November 2009
12 Nov 2009 Grosvenor management reshuffle
11 Nov 2009 SBS joins the PIE fight
11 Nov 2009 Fidelity Life makes two key appointments
11 Nov 2009 Insurers need to work together to build the pie: Carroll
11 Nov 2009 RBNZ expects failures among guaranteed finance companies
11 Nov 2009 Code Committee extends submission deadline
11 Nov 2009 Inquiry claims banks didn't pass on OCR cuts
11 Nov 2009 IFA Debate
11 Nov 2009 Return to riskier mortgage lending a dangerous game
11 Nov 2009 New head of Tower KiwiSaver
11 Nov 2009 AMP/AXA would create NZ advisory giant
10 Nov 2009 Hanover reneges on full repayment to investors
10 Nov 2009 AXA Global Investor Adviser Briefing
10 Nov 2009 Call for govt to step in with mortgagee sales
10 Nov 2009 DecisionMakers adds Tauranga office
10 Nov 2009 Market Review: November 2009 London Commentary
10 Nov 2009 Market still looking for early interest rate rises
10 Nov 2009 Gold not as safe as investors think
09 Nov 2009 ASB hikes TD rates
09 Nov 2009 TOWER appoints head of KiwiSaver
09 Nov 2009 AXA Global Investor Adviser Briefing
09 Nov 2009 News Round Up
09 Nov 2009 Property values turn positive - finally
09 Nov 2009 Residential highlights - October
08 Nov 2009 Rates Round Up
08 Nov 2009 ASB hike fixed rates again
06 Nov 2009 AXA Global Investor Adviser Briefing
06 Nov 2009 [Weekly Wrap] That very consuming survey
06 Nov 2009 FundSource Conference 2009
06 Nov 2009 Confidence in property returning
06 Nov 2009 Consumer Survey: Ban Commissioned Advisers
06 Nov 2009 Grosvenor End of Year Conference and Awards Dinner 2009
06 Nov 2009 Whose interests are Consumer serving?
06 Nov 2009 Rules tightening around mortgagee sales
06 Nov 2009 Consumer survey another knock to confidence in advisers: IFA says
05 Nov 2009 Consumer Survey: Investigate before you invest
05 Nov 2009 Super portability included in November tax bill
05 Nov 2009 Consumer Survey: EUFA says report vindication
05 Nov 2009 St Laurence staves off threat of receivers
05 Nov 2009 Consumer Survey: Cotton says reforms already underway
05 Nov 2009 Government increases provisioning for deposit guarantee
05 Nov 2009 The great commission shake-up
05 Nov 2009 2009 Finsia Annual Dinner
05 Nov 2009 Camelot End of Year Conference
05 Nov 2009 The OCR rollercoaster ride
05 Nov 2009 Consumer mystery shops advisers again
05 Nov 2009 AXA Global Investor Adviser Briefing
04 Nov 2009 Perpetual lures Westpac wealth chief
04 Nov 2009 Auckland house prices reach 22-month high, sales rise
04 Nov 2009 Advisers need to hold fast to disciplined approach
03 Nov 2009 Botherway joins DNZ board
03 Nov 2009 The Investment Store Roadshows
03 Nov 2009 IRD ramps up investigations yet again
03 Nov 2009 Crossan reappointed
03 Nov 2009 Morrison taps Craigs Investment for proposed retail fund
02 Nov 2009 Mortgage fraud increases
02 Nov 2009 No point on mortgage curve safe now
02 Nov 2009 Westpac increases by 10
02 Nov 2009 News Round Up
02 Nov 2009 Deposit takers play the long game
02 Nov 2009 Rates Round Up
October 2009
30 Oct 2009 [Weekly Wrap] Regulation central
30 Oct 2009 Building consents climb for third straight month
30 Oct 2009 Concerns for ageing home owners
30 Oct 2009 EMERGE Series 2: New capital protected emerging markets fund
30 Oct 2009 SCF appoints three new directors
30 Oct 2009 SCF appoints three new directors
30 Oct 2009 Code Committee competency consultation
30 Oct 2009 Ombudsman wants change to disclosure rules
30 Oct 2009 AMP Home Loan rate rises
30 Oct 2009 Competency standards need practical element
29 Oct 2009 ANZ and National Banks take the lead in deposit rate war
29 Oct 2009 Finsia industry update: Insurance & Savings Ombudsman
29 Oct 2009 What goes down generally comes back up
29 Oct 2009 SCF repays US$50m to investors
29 Oct 2009 Cat amongst the pigeons
29 Oct 2009 OCR unchanged, rates not to fall further
29 Oct 2009 Bollard's low OCR likely to refire housing market
29 Oct 2009 Ken Holmes Financial adds new team member
29 Oct 2009 Code Committee competency consultation
29 Oct 2009 Bollard's speech on the OCR
29 Oct 2009 OCR Update
29 Oct 2009 OCR unchanged, Bollard drops wording rates could fall further
29 Oct 2009 Southern Cross looks to offer critical illness cover
29 Oct 2009 Minimum competency standards are only the beginning
28 Oct 2009 Credit Union Baywide gets BB rating; ponders Govt guarantee
28 Oct 2009 Code Committee competency consultation
28 Oct 2009 Opinion: Questions, questions
28 Oct 2009 Costs mount up for regulation
28 Oct 2009 New team at Viaduct Capital shake off past prospectus issues
28 Oct 2009 Buy by negotiation, sell by auction
27 Oct 2009 Deposit rate war moves to 12 month space
27 Oct 2009 RB expected to prepare market for rate increases
27 Oct 2009 KiwiSaver members reach almost 1.2m
27 Oct 2009 Rents stabilise, demand on the rise
27 Oct 2009 National and ANZ raise six-month rates
27 Oct 2009 Rates Round Up
26 Oct 2009 Market listening for the unexpected
26 Oct 2009 News round-up
23 Oct 2009 [Weekly Wrap] The price of advice
Latest News
Can AI pick the best KiwiSaver provider?
Can AI pick the best KiwiSaver provider?
4 min read
[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
2 min read
NZX aims for 5% of KiwiSaver market in three-to-five years
NZX aims for 5% of KiwiSaver market in three-to-five years
3 min read
Trust in AI’s decision making not keeping pace with adoption
Trust in AI’s decision making not keeping pace with adoption
3 min read
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