Archive - 2010
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September 2010
06 Sep 2010 Govt wants SCF sold as going-concern
06 Sep 2010 PAA National PI Roadshow
06 Sep 2010 PAA National PI Roadshow
06 Sep 2010 ANZ shaving
06 Sep 2010 Fidelity Life appoints business development manager
06 Sep 2010 Money Managers closes to make way for new firms
03 Sep 2010 Banking Ombudsman Scheme obtains Ministerial approval
03 Sep 2010 Perpetual’s adviser force is expanding
03 Sep 2010 Choice declining for buyers
03 Sep 2010 Pyne Gould's Perpetual unit in talks to buy Aegis WRAP platform
03 Sep 2010 Head of Perpetual Trust steps down
03 Sep 2010 ASB lenders drop rates
02 Sep 2010 Liquidiator mum on Five Star funding commitments
02 Sep 2010 SBS takes margin hit to keep mortgage rates down
02 Sep 2010 Draft Code sent to Simon Power for approval
02 Sep 2010 SCF’s long history blurred in an instant
02 Sep 2010 Strategic book value deficit at $195.5m
02 Sep 2010 Pause in the OCR expected till March 2011
02 Sep 2010 Shifting to level premium policies not always right
02 Sep 2010 Insider Paul Brock to replace Knowles at Kiwibank
02 Sep 2010 Fund managers should be accountable to a regulator: Mayhew
01 Sep 2010 HBS members give SBS merger thumbs up
01 Sep 2010 Showcase Auckland hotel Westin Lighter Quay in chaos
August 2010
31 Aug 2010 SCF not as big a favourite among advisers as it used to be
31 Aug 2010 SCF's long history blurred in an instant
31 Aug 2010 Keep South Canterbury in perspective: NZIER chief economist
31 Aug 2010 Rates Round Up
31 Aug 2010 Scales unaffected by SCF receivership
31 Aug 2010 SCF process will take up to five years: English
31 Aug 2010 NZIER: Pause in OCR till March 2011
31 Aug 2010 South Canterbury needed up to $300 mill to survive: Maier
31 Aug 2010 South Canterbury bond speculators reap fat reward as finance firm fail
31 Aug 2010 Govt moves swiftly to repay all South Canterbury depositors
31 Aug 2010 South Canterbury receivership, triggers $1.6 bill Crown payment
31 Aug 2010 Sandy Maier's comments on South Canterbury receivership
31 Aug 2010 South Canterbury calls in receivers
31 Aug 2010 NZ dollar falls as deadline arrives for South Canterbury Finance
31 Aug 2010 FNZC Bond Fund adds experienced resource
31 Aug 2010 South Canterbury calls in receivers
31 Aug 2010 Labour wants to create more savings products
31 Aug 2010 Update from Banking Ombudsman Deborah Battell
31 Aug 2010 Housing consents fall
30 Aug 2010 Key rejects claim govt to blame for SCF’s woes
30 Aug 2010 OCR expectations knocked back
30 Aug 2010 ASB Securities appoints managing principal
30 Aug 2010 Insurance law promotes efficiency
30 Aug 2010 News Round Up
30 Aug 2010 Three bidders now vying for South Canterbury Finance
29 Aug 2010 ANZ mortgage market share dips
29 Aug 2010 Economist pushes out dates for next OCR hikes
28 Aug 2010 Govt won't help SC Finance Hubbard says
27 Aug 2010 Signs property market is warming
27 Aug 2010 What is the Savings Work Group really for?
27 Aug 2010 Hubbard funds over valued by 25%: Report
27 Aug 2010 Adviser services need to be defined
27 Aug 2010 Property investors need be careful with family trusts
26 Aug 2010 Marac will pounce when rivals collapse
26 Aug 2010 Former Goldman Sachs boys take over chairs at Foundry Asset Management
26 Aug 2010 Workplace Savings NZ 2010 Conference
26 Aug 2010 Fourteen percent of Marac's deposits not guaranteed
26 Aug 2010 Former Five Star Finance directors could face 7 years in SFO charges
26 Aug 2010 Many advisers postponing study
26 Aug 2010 Review may give investors some depreciation relief
25 Aug 2010 ASB enters home equity release market
25 Aug 2010 Mortgage Link appoints replacement for Butler
25 Aug 2010 Kiwis want to see own backyard before kicking the bucket
25 Aug 2010 SCF doubts it will meet NBDT requirements
25 Aug 2010 Inflation-indexed tax on savings should work in theory: English
24 Aug 2010 Dorchester raises $10.3m for growth
24 Aug 2010 Heartland bank to pitch to shareholders in November
24 Aug 2010 Savings Working Group members announced
24 Aug 2010 S&P finally delivers some good news
24 Aug 2010 Spread it around
24 Aug 2010 Equitable says downgrade has no impact
24 Aug 2010 Fixed rates step into spotlight
24 Aug 2010 Tower launches cover for non-Pharmac funded cancer drugs
24 Aug 2010 TSB lifts mortgage market share but profit drops
24 Aug 2010 Adviser regulation blows the budget
23 Aug 2010 Loughlin relinquishes Allied Farmers chair
23 Aug 2010 RBNZ managing inflation expectations
23 Aug 2010 Macquarie appoints three investment advisers
23 Aug 2010 Wrightson spurns long-term guaranteed deposits
23 Aug 2010 Another NZ fund manager joins the billion dollar club
22 Aug 2010 BNZ stepped up mortgage lending in June quarter
20 Aug 2010 South Canterbury rating cut to CC
20 Aug 2010 Allied Nationwide crumbles into receivers' arms
20 Aug 2010 Revised Code back in the Commissioner's hands
20 Aug 2010 Rates are rising - but it's not that bad
20 Aug 2010 AIA: The business of risk
20 Aug 2010 Q&A: Sam Stubbs on the 'New Normal'
20 Aug 2010 Time is of the essence
20 Aug 2010 Westpac grabs 44% of all new home loans
20 Aug 2010 Diversified adds to team
20 Aug 2010 Rates rising but are still low
20 Aug 2010 More two year rate cuts
20 Aug 2010 Associations tell Govt to hurry up on fix ups
20 Aug 2010 Latest immigration numbers good for housing market
19 Aug 2010 Investors continue to shun Allied over trust deed breach
19 Aug 2010 Pre-tax change push to sell life policies helps AMP
19 Aug 2010 FSCL free information seminars
Latest News
Koura reports another loss
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[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
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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