Archive - 2013
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August 2013
30 Aug 2013 Advisers heading off formal complaints
30 Aug 2013 Exclusive property up for mortgagee sale
29 Aug 2013 Deemed rate of return falls
29 Aug 2013 Ross pleads guilty
29 Aug 2013 FMCB passed
29 Aug 2013 Be clear on value: Dowling
29 Aug 2013 LVR limits have limited impact: Westpac
28 Aug 2013 The role of annuities in the New Zealand retirement incomes policy mix
28 Aug 2013 Kiwibank aims to grow its share of the home loan pie
28 Aug 2013 Kiwibank aims to grow its share of the home loan pie
28 Aug 2013 Fidelity makes two senior appointments
28 Aug 2013 Brown: Advisers struggling with principles-based approach
28 Aug 2013 Price growth not exceptional: Barfoot
27 Aug 2013 nib signs up Benji Marshall for new campaign
27 Aug 2013 ANZ says speed bumps will slow the housing market
27 Aug 2013 First FADC action taken
27 Aug 2013 Flexible pensions proposal risks
27 Aug 2013 TSB deletes special rate; Speed bumps will work
27 Aug 2013 ANZ: How low will sales go?
26 Aug 2013 Quote Monster business sold
26 Aug 2013 ASB ups rates and adds special
26 Aug 2013 Too many professional bodies: Advisers
26 Aug 2013 Sunset clauses may burn investors
23 Aug 2013 Campbell to step down
23 Aug 2013 [Weekly Wrap] Adviser advocate resigns
23 Aug 2013 New wave of rate hikes starts
23 Aug 2013 OnePath trauma changes
23 Aug 2013 FMA and Code at odds over adviser rules
23 Aug 2013 ANZ cracks 7% mark
22 Aug 2013 Kiwibank moves to self insure its loans
22 Aug 2013 Kiwibank moves to self-insure loans
22 Aug 2013 Direct sales not a threat to advisers: Sligo
22 Aug 2013 Alexander: Rules will push up regional house prices
22 Aug 2013 Five Star investors angry
21 Aug 2013 Trade Me enters life insurance market
21 Aug 2013 Aust super schemes not playing ball with KiwiSaver
21 Aug 2013 Bank customers will be disadvantaged by lending restrictions; BNZ hikes
21 Aug 2013 Cash sales declining: Property IQ
20 Aug 2013 What it takes to be the FMA CEO
20 Aug 2013 Customers 'will be disadvantaged'
20 Aug 2013 LVR move stricter than predicted
20 Aug 2013 Bank lending restrictions announced
20 Aug 2013 LVR restrictions a thicker mattress rather than a stout fence
20 Aug 2013 Advisers raise concerns about Code changes
20 Aug 2013 Kiwibank to push investors back in queue
20 Aug 2013 LVR restrictions announced
19 Aug 2013 LVR restrictions a thicker mattress rather than a stout fence
19 Aug 2013 AMP has better experience with life insurance claims
19 Aug 2013 Time running out for life companies to get licenced
19 Aug 2013 Ross investors face $3.8m clawback
19 Aug 2013 Floating rates set to go close to 8%
19 Aug 2013 Plan to help people switch KiwiSaver schemes
19 Aug 2013 Kiwibank offers energy use check-up
16 Aug 2013 [Weekly Wrap] Commission debate continues
16 Aug 2013 New CPD guide for IFA members
16 Aug 2013 Sean Hughes' speech to Workplace Savings
16 Aug 2013 Arkinstall and co sentenced
16 Aug 2013 FADC hears three cases but issues no decisions
16 Aug 2013 More to go with house prices
16 Aug 2013 Cycle 'may be only half-way through'
16 Aug 2013 Hughes apologises to investors
16 Aug 2013 'Cycle may only be half-way through'
15 Aug 2013 ASB's bumper profit
15 Aug 2013 Showing value for advice number one issue
15 Aug 2013 Private option for listings
14 Aug 2013 LVR restrictions a significant change: ASB
14 Aug 2013 Do trips make a difference?
14 Aug 2013 Loan restrictions creep closer - or do they?
14 Aug 2013 Code review sparks soft dollar commission debate
14 Aug 2013 LVR restrictions at odds with Government: Eaqub
13 Aug 2013 Reserve Bank releases response to submissions on high-LVR restrictions
13 Aug 2013 Aussie takes over IFA board chair
13 Aug 2013 Two tier home loan pricing
13 Aug 2013 How much do advisers earn?
13 Aug 2013 Returning to the heart of being a broker
13 Aug 2013 Botherway considers property fund: report
13 Aug 2013 First-home buyers rush in
12 Aug 2013 Code changes impact RFAs
12 Aug 2013 First-home buyers try to beat restrictions: REINZ
12 Aug 2013 House price expectations up
11 Aug 2013 Changes to KiwiSaver subsidy, Welcome Home Loans announced
11 Aug 2013 Shareholders to vote on note conversion
10 Aug 2013 More RMA reforms planned
09 Aug 2013 New appointment to Southern Cross Travel Insurance
09 Aug 2013 General Finance reports growth
09 Aug 2013 Code changes released
09 Aug 2013 Wind up of LM Fund to start
09 Aug 2013 [Weekly Wrap] Code Committee shows its hand
09 Aug 2013 How to tell a good adviser from a bad one
09 Aug 2013 Quick auctions not in vendor's interests: Helm
09 Aug 2013 Lender seeking projects
08 Aug 2013 CEO of biggest broking group resigns
08 Aug 2013 LVR lending restrictions may not materialize
08 Aug 2013 Henderson reduces fees
08 Aug 2013 New chairman for Million Dollar Round Table
08 Aug 2013 The return of big planning firms
08 Aug 2013 Prices growing, but more slowly: QV
07 Aug 2013 A little less stimulus ahead
07 Aug 2013 RBA cuts, lenders pass
07 Aug 2013 Auctions frustrating buyers
Latest News
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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
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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?
3 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