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April 1998
22 Apr 1998 Good marriage advice
21 Apr 1998 What's in a name?
19 Apr 1998 Weekly briefs
16 Apr 1998 Who do you believe?
15 Apr 1998 Pru revisits trauma policies
15 Apr 1998 EquitiLink launches fresh assault
13 Apr 1998 Star wars
13 Apr 1998 Weekly briefs
09 Apr 1998 Wright new IAFP chairman
09 Apr 1998 Funds fail to add value
07 Apr 1998 Bye bye Jonesy
06 Apr 1998 The balanced manager : A dinosaur?
05 Apr 1998 Breaking the bonds
05 Apr 1998 The removal of the surcharge
05 Apr 1998 Weekly briefs
03 Apr 1998 Property is the latest to join the index craze
02 Apr 1998 Baron-Hay to head up BT
02 Apr 1998 Aussies snap up Kiwi Income managers
01 Apr 1998 ANZFM rolls in big guns
March 1998
31 Mar 1998 IAFP chairman and three others resign
30 Mar 1998 Weekly briefs
27 Mar 1998 IPAC launches star ratings
26 Mar 1998 Sovereign shares $2.25 each
26 Mar 1998 The bad news, the good news and the question mark?
25 Mar 1998 IPAC makes declaration
24 Mar 1998 Now there are three research houses
23 Mar 1998 Advisers told to get rid of baddies
23 Mar 1998 Weekly briefs
18 Mar 1998 InvestmentLink gets major boost
17 Mar 1998 Paying off debt a priority
17 Mar 1998 Tax credit scheme coming
15 Mar 1998 WestpacTrust on the turn
15 Mar 1998 Trident launches research package
15 Mar 1998 Weekly briefs
13 Mar 1998 <I>Consumer</I> slams advisers
13 Mar 1998 Expansion by growth - literally
11 Mar 1998 NZRPT survives wind-up threat
10 Mar 1998 Nat Mut takes over MLC
09 Mar 1998 The big one is still to come
08 Mar 1998 Royal and Sun Alliance nabs Norwich
06 Mar 1998 Kleinwort trust to be liquidated
04 Mar 1998 Local boys do good
03 Mar 1998 Sovereign pushes listing button - finally
01 Mar 1998 Weekly briefs
February 1998
25 Feb 1998 Tower's AGM bit of a damp squib
25 Feb 1998 Few active managers really add value
24 Feb 1998 The lights are out, but the candle still burns
23 Feb 1998 Weekly briefs
19 Feb 1998 Regulation on the cards
18 Feb 1998 Ergo exits
17 Feb 1998 More pieces to the puzzle found
17 Feb 1998 Is asset allocation a hoax?
16 Feb 1998 Weekly briefs
12 Feb 1998 Spicers makes the change
12 Feb 1998 Cash is hot. Equities are not
12 Feb 1998 Institute shoots at sharks
12 Feb 1998 Retirement is more than money
11 Feb 1998 NZRPT meeting adjourned
10 Feb 1998 AJ wins award
10 Feb 1998 AJ throws down the gauntlet
05 Feb 1998 Tree trust toppled
04 Feb 1998 Fisher to establish own funds
02 Feb 1998 Forest trust gets the chop
02 Feb 1998 Weekly briefs
January 1998
30 Jan 1998 Merger talks on again
29 Jan 1998 Sovereign anticipates March listing
27 Jan 1998 Trust's structure flawed
27 Jan 1998 Weekly briefs
25 Jan 1998 Whitten leaves Prudential
21 Jan 1998 Nat Mutual and MLC say I do
21 Jan 1998 Financial Fitness goes north
20 Jan 1998 IAFP and ICFP look to future
16 Jan 1998 Weekly briefs
16 Jan 1998 Don't do it
13 Jan 1998 Top trust under wind-up threat
13 Jan 1998 An investment to mull over
12 Jan 1998 Tower Trust signs up
December 1997
23 Dec 1997 Annual awards
23 Dec 1997 Monitoring fees under pressure
23 Dec 1997 Public Trust ownership heads for court
22 Dec 1997 Weekly briefs
18 Dec 1997 The Group of Seven win
18 Dec 1997 Independence ruling unenforced
18 Dec 1997 Todd group releases final report
17 Dec 1997 Good news on the savings front
15 Dec 1997 BT's Fowler leaves NZth
15 Dec 1997 Single advisory body still possible
15 Dec 1997 IAFP showdown inevitable now
15 Dec 1997 Weekly briefs
14 Dec 1997 Book review
11 Dec 1997 IPAC's Milky Way
08 Dec 1997 Tower plans to demutualise itself
08 Dec 1997 Weekly briefs
07 Dec 1997 Independence complaints flow
07 Dec 1997 InvestmentLink partner
05 Dec 1997 Norwich on the block
05 Dec 1997 Consumers are demanding a professional body
04 Dec 1997 Federation concept unsupported
November 1997
30 Nov 1997 Shaking the funds management tree
30 Nov 1997 Weekly briefs
Latest News
MBIE confirms investigation into FMA
MBIE confirms investigation into FMA
1 min read
KiwiSaver funds shake off Middle East tension
KiwiSaver funds shake off Middle East tension
2 min read
Staffing cuts helped Fisher Funds lift annual net profit 21.7%
Staffing cuts helped Fisher Funds lift annual net profit 21.7%
3 min read
[The Wrap] What the heck is happening at the FMA?
[The Wrap] What the heck is happening at the FMA?
3 min read
Latest Comments
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.
22 hours 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?
3 days 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 days ago P Urbani
FMA CEO on leave
@pragmatic The most elegant description of what you are talking about was retired Chief Justice of Australia speaking at a conference in Australia in 2009. Sir Anthony Mason said "our system of regulation proceeds on the footing that the adviser may be a product seller. Indeed our system enables the product seller to adopt the guise of a financial adviser and endows that disguise with the aura of legitimacy by calling him a "licensed financial adviser. The sales vs advice distinction was lost a long time ago. I believe the final straw happened at an industry/professional association meeting with MBIE where I was arguing very strongly for such a divide - those who were there might recall my Venn diagram. But I got completely white anted by the PIA rep, and the FPIA reps were so tied up in their wish to appease the officials in the hope they would meke them the self reluator that they chose not to engage in the inter-association stoush. My subsequent discussion with a senior MBIE person told me we lost the sales vs advice argument that day because of an advisor body representative exhortations.
4 days ago Murray D Weatherston
Are we doing right by our clients when it comes to TPD?
Great article, Kat. The problem is that none of this feels real to people until it is. I'm as guilty as anyone. Death is at least a concept everyone has sat with. Surviving and never earning the same way again is abstract enough that it gets traded away first when the premium needs cutting. For us, TPD riders on trauma, mortgage and income cover are an opt-out, in as standard on every recommendation, and standalone TPD is discussed separately on its own merits. Nobody should be leaving without some form of long term disability protection if we're looking at someone's bigger picture. Granted that premiums will usually be the reason for opting out.
4 days ago Own Occupation