Archive - 2013
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May 2013
24 May 2013 Want to go to Sydney?
24 May 2013 Urgent action required over banks' KiwiSaver selling tactics
24 May 2013 Lender given another serve
24 May 2013 Consider trauma instead of medical cover: Partners
24 May 2013 Top three Barfoot agents turn over $200m
23 May 2013 Jenning's gems
23 May 2013 IFA hands out awards
23 May 2013 RFAs should become AFAs
23 May 2013 AMP reviews fund composition
22 May 2013 Kiwibank outlook downgraded
22 May 2013 IFA gets two new directors
22 May 2013 Don't bet on Aussie banks: PM Capital
22 May 2013 Kiwibank outlook downgraded
22 May 2013 Auckland lacking homeowners: Survey
21 May 2013 Here's one for the FMA
21 May 2013 Salt gets COO from AMP Capital
21 May 2013 Top mortgage brokers named
21 May 2013 Advisers' Code about to get tweaked
21 May 2013 Get systems right, property investors reminded
20 May 2013 PAA chairman resigns
20 May 2013 Lender of the year named
20 May 2013 LM court date pushed back
20 May 2013 Partners wins PAA gong
20 May 2013 RBNZ confirms macroprudential tools
20 May 2013 Kiwis backing rental property
18 May 2013 New to Business versus Business Overheads Cover
17 May 2013 S&P sounds warning to some lenders
17 May 2013 S&P sounds warning to some lenders
17 May 2013 Advisers told to dob in peers
16 May 2013 Final battle for control of Mike Pero Mortgages starts
16 May 2013 Mike Pero accusations fly
16 May 2013 Budget eyes property market
15 May 2013 Adviser data safe dispute scheme says
15 May 2013 Kiwibank does a switch
15 May 2013 Kiwibank switches home loan specials to two year term
15 May 2013 Investors 'need to take responsibility'
15 May 2013 Kiwi houses too expensive: IMF
14 May 2013 AFA requirements should be stricter: Hughes
14 May 2013 Fidelity not hiring TOWER's sales force
13 May 2013 Aussies take slice of Edge
13 May 2013 Another new fund manager pops up
13 May 2013 Buyers giving up: Survey
13 May 2013 Sales numbers up but prices ease: REINZ
12 May 2013 Revamp planned for AX
12 May 2013 IFA names Grayland replacement
10 May 2013 AIS opens the doors on its investment strategy discussion
10 May 2013 [Weekly Wrap] What's left for TOWER?
10 May 2013 Dominion Finance director pleads guilty
10 May 2013 Lifetime grabs top broker
10 May 2013 TOWER life business sold
10 May 2013 Westpac outsources to employees
10 May 2013 FMA 'too slow'
10 May 2013 Accord fast-tracks developments
09 May 2013 TOWER staff branch out
09 May 2013 Stats hide large variations: QV
09 May 2013 QV reports price momentum spreading
08 May 2013 RBNZ introducing macroprudential tools 'soon'
08 May 2013 Harbour Monthly Commentary: The Threat of Inflation or Deflation
08 May 2013 Third time lucky for equity derivatives?
08 May 2013 FSC policy replacement guidelines 'irrelevant'
08 May 2013 Kiwis expect prices to carry on rising: ASB
07 May 2013 Gold recovers but growth 'limited'
07 May 2013 Interest rate warning for borrowers
07 May 2013 Reserve Bank policies get blame for lagging rents
06 May 2013 More action with one-year home loan rates
06 May 2013 BNZ takes the one-year lead
06 May 2013 nib appoints NZ CEO
06 May 2013 Fund managers ineffective: Report
06 May 2013 Council eyes Plan profits
06 May 2013 Insurance changes: Don't guesstimate
03 May 2013 Westpac reduces appetite risk
03 May 2013 ANZ appoints private banking boss
03 May 2013 Tyndall Monthly Commentary:Dangerous Assumptions Impact New Zealand
03 May 2013 FMA gets 'good' report card
03 May 2013 Geneva announces early payment
03 May 2013 Upward price momentum stalls: Barfoot and Thompson
02 May 2013 TNP makes GM of ops
02 May 2013 Trilogy in court to win control of LM mortgage fund
01 May 2013 Dorchester announces structure simplification, dividends
01 May 2013 Pathfinder Monthly Commentary: Investing in Japan – an emperor with new clothes?
01 May 2013 Finance sector more appealing: Survey
01 May 2013 Growth funds report strong returns
01 May 2013 Finance company customers seek out banks
01 May 2013 Asking prices climb
01 May 2013 ANZ: Is market sustainable?
April 2013
30 Apr 2013 RESIMAC rate changes
30 Apr 2013 No charges for Hanover: SFO
30 Apr 2013 Westpac makes its one-year rate look good
30 Apr 2013 Westpac makes its one-year rate look good
30 Apr 2013 Partners Life rejects restructure scepticism
30 Apr 2013 Inflation warning from Fisher
30 Apr 2013 Consent drop may be a blip
29 Apr 2013 Anger at delay in asking big Ross questions
29 Apr 2013 New low equity charge from Westpac
29 Apr 2013 New low equity charge for Westpac customers
29 Apr 2013 Next set of new rules tweaked thanks to Ross Asset Management
29 Apr 2013 HNZ targets investors
26 Apr 2013 [Weekly Wrap] Commission is this week's buzzword
26 Apr 2013 FMA chairman reappointed
26 Apr 2013 Do commissions damage customer trust?
Latest News
Koura reports another loss
Koura reports another loss
1 min read
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
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