Archive - 2010
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August 2010
19 Aug 2010 Kiwibank still growing mortgage book but momentum wanes
19 Aug 2010 FINSIA leadership lunch: Identity crime in NZ
19 Aug 2010 IFA rails against regulatory levies
18 Aug 2010 TOWER chief actuary resigns
18 Aug 2010 BNZ trumps Kiwibank in deposit rate war during June quarter
18 Aug 2010 Mortgage curve flattens
18 Aug 2010 Kiwibank profit falls 13%
18 Aug 2010 NZMBA pushes for clarity on authorisation
18 Aug 2010 FSCL free information seminars
18 Aug 2010 HSBC keeps six month rate unchanged
18 Aug 2010 Code revision shouldn't slow process: Butler
18 Aug 2010 Govt will only get back 28-33 cents on Viaduct failure
18 Aug 2010 Property investors targeting private sellers
17 Aug 2010 Sovereign cuts life premiums to be competitive
17 Aug 2010 [Breaking News] Commissioner asks for Code to be revised
17 Aug 2010 FSCL free information seminars
17 Aug 2010 Old star returns with new fund
17 Aug 2010 Dr Don's gloomy outlook for house prices
16 Aug 2010 Allied Nationwide rating cut deeper due to covenant breach: S&P
16 Aug 2010 Dorchester rolls out timetable for new securities
16 Aug 2010 Long wait over for broker
16 Aug 2010 Westpac leads tussle for six month deposits
16 Aug 2010 Rates Round Up
16 Aug 2010 News Round Up
13 Aug 2010 Financial advisers register to open on Monday
13 Aug 2010 House sales fall to decade low
13 Aug 2010 REINZ residential highlights - July 2010
13 Aug 2010 Commission unsure how long adviser licences will last
13 Aug 2010 FINSIA leadership series: Tax reform and wealth management
13 Aug 2010 Orange Finance pushes out moratorium timeline
12 Aug 2010 Lynch leaving Dorchester
12 Aug 2010 Current economists predictions
12 Aug 2010 Provincial property posed to prosper
12 Aug 2010 Allied Nationwide rating cut
12 Aug 2010 NZPIF conference packed with benefits
12 Aug 2010 FINSIA briefing series: Financial Advisers Regulation
12 Aug 2010 Investment products for retirees need to be developed
11 Aug 2010 Marac gets a bit of a lift from S&P
11 Aug 2010 HotHouse: The new and improved financial adviser regime
11 Aug 2010 South Canterbury Finance warns investors
11 Aug 2010 Kiwibank and National raise floating rates
11 Aug 2010 More money owed by collapsed planner under SFO scrutiny
11 Aug 2010 IRD favours depreciation for commercial building fit-outs
10 Aug 2010 General Finance earnings bounce back as it prepares for guaranteed mat
10 Aug 2010 Floating rates rise while fixed rates tumble
10 Aug 2010 Pause in OCR now expected
10 Aug 2010 Tower makes enhancements to Trauma and Income Protection cover
10 Aug 2010 Elective surgery boosts health insurance claims by 10%
10 Aug 2010 Lack of savings products contributed to finance sector collapse
09 Aug 2010 Making sense of current house prices
09 Aug 2010 ANZ and Westpac change rates
09 Aug 2010 Allied Farmers puts capital raising on hold amid trustee concerns
09 Aug 2010 NAB tries to get ACCC onside with divestiture of Axa platform
09 Aug 2010 ISI actively looking for a new CEO
09 Aug 2010 Confidence in property market remains stable
09 Aug 2010 Fidelity Life appoints corporate marketing manager
09 Aug 2010 Second cut to long-term bank TD’s
09 Aug 2010 Rates Round Up
09 Aug 2010 TSB raises floating rates
09 Aug 2010 TSB raises floating rates
09 Aug 2010 Performance regulation could be based on ISI standard: Power
09 Aug 2010 Market back to the future of 2008
09 Aug 2010 QV main urban areas commentary: July 2010
08 Aug 2010 Mortgagee sales continue to stay high
06 Aug 2010 What’s in a name?
06 Aug 2010 Govt shoots down member’s bill for ethical investment
05 Aug 2010 Supreme Court will hear GE appeal over Blue Chip ruling
05 Aug 2010 SCF blames adviser for share price plunge
05 Aug 2010 NAB still hopeful over AXA bid
05 Aug 2010 ASB first off the mark again
05 Aug 2010 Scattered OCR forecasts by economists
05 Aug 2010 ING's new name revealed
05 Aug 2010 ASB hikes rates
05 Aug 2010 ISI rejects intl standard and goes it alone
04 Aug 2010 Capital + Merchant investors’ only avenue for recovery through claims
04 Aug 2010 Auckland house sales still in doldrums
04 Aug 2010 Govt capping forces closure of Finanicial Planning Diploma
04 Aug 2010 Vendor-agent relationships strengthening
03 Aug 2010 Receivers unsure how much govt will claw back from Rockforte Finance
03 Aug 2010 AON accused of churning insurance customers
03 Aug 2010 Associations want mortgage, insurance adviser situation sorted
02 Aug 2010 Receiver flags Strategic Finance property deals for this week
02 Aug 2010 Asking prices fall $22k in four months
02 Aug 2010 News Round Up
02 Aug 2010 Rates round up
02 Aug 2010 Tower wants blokes to 'man up'
01 Aug 2010 Who buys gold bullion?
July 2010
30 Jul 2010 [Weekly Wrap] And so the Code was handed down
30 Jul 2010 Analysis falls in favour of fixing two or three years
30 Jul 2010 Code formally recommended to the commissioner
30 Jul 2010 Final changes to the Draft Code
30 Jul 2010 Building consents edge up slightly after slump
30 Jul 2010 Tauranga: Investing in sunshine
30 Jul 2010 Kieran Jones joins Planet Financial Services
30 Jul 2010 Crown guarantee may not cover investments in wraps
29 Jul 2010 OCR increases but more moderate pace to come
29 Jul 2010 Code Committee members reappointed
29 Jul 2010 Floating rates to rise but not as fast or far as expected
29 Jul 2010 Bollard lifts OCR, predicts more moderate pace of increases
29 Jul 2010 PRESS RELEASE: RBNZ raises OCR to 3%
Latest News
[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
Banks lose KiwiSaver share
Banks lose KiwiSaver share
2 min read
Latest Comments
FE Investments in receivership
Fei , trustees still hold large of money not yet refund fully.
6 days 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.
2 weeks ago P Urbani