Archive - 2003
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December 2003
31 Dec 2003 House price falls more than 12 months away
29 Dec 2003 Banks get a bouquet
29 Dec 2003 Gupta elected to bigger body
24 Dec 2003 New health insurance manager at Sovereign
24 Dec 2003 BT takes over Westpac money
23 Dec 2003 Excuses start early for Govt super fund
23 Dec 2003 Dominion's Tri-City offer allowed to proceed
23 Dec 2003 New 'leaky homes' standards not mandatory
22 Dec 2003 Squeeze the goods when buying advice - Mary Holm
22 Dec 2003 Vendor bidding at auctions must be made clear, says court
22 Dec 2003 Rates on the rise
22 Dec 2003 Taupo Auction
22 Dec 2003 $150m bulk retail deal brings top spot closer
22 Dec 2003 Investors told to avoid big risks
22 Dec 2003 One stage for SH20 extension
22 Dec 2003 Megacentre a waste of time,say developers
22 Dec 2003 Bypass clears its final obstacle
22 Dec 2003 Central Napier enjoying business boom
22 Dec 2003 Subdivision marketing under review
22 Dec 2003 NZ Super Fund reveals investments
22 Dec 2003 Workplace savings not the panacea
21 Dec 2003 St Laurence offer extended
19 Dec 2003 LEAD STORY: Report card on superannuation released
19 Dec 2003 PRG: FPIA supports self-regulation
19 Dec 2003 PRG: Govt says it will respond to PRG early in New Year
19 Dec 2003 PRG: Superannuation report misses a few key points
19 Dec 2003 PRG: Recommendations in savings report welcomed
19 Dec 2003 PRG: Untapped potential for saving at work
19 Dec 2003 PRG: No crisis, but no room for complacency, says retirement income gr
19 Dec 2003 Report card on superannuation released
19 Dec 2003 PRG report welcomed
19 Dec 2003 PRG: Women please their savings issues have been recognised
18 Dec 2003 NZ Super Fund returns lowered
18 Dec 2003 Tower appoints new director
18 Dec 2003 NZ Super Fund returns lowered
18 Dec 2003 House prices rise 20% in a year
17 Dec 2003 AMP Office Trust faces big changes
17 Dec 2003 Tax option is not RFRM
17 Dec 2003 House prices rise 20% in a year
17 Dec 2003 New mortgage industry association next year
17 Dec 2003 Property on roll around the country
16 Dec 2003 New actuary chair
16 Dec 2003 Paper on taxation of offshore investments released
16 Dec 2003 ING buys Club Life
16 Dec 2003 Inheritances aren't part of retirement plans
15 Dec 2003 Why Yields Count in Commercial Property
15 Dec 2003 House price record broken again
15 Dec 2003 Tucker buys Leveraged Investor Finance
15 Dec 2003 Tucker buys Leveraged Investor Finance
15 Dec 2003 News Round Up
13 Dec 2003 Landlords & Tenants Deserve Fair & Just Advocates
13 Dec 2003 Smith: compulsory home maintenance law ludicrous
13 Dec 2003 An auction with a difference
13 Dec 2003 Thieves Prosecuted
13 Dec 2003 Easing Off
13 Dec 2003 Increased house prices
13 Dec 2003 Earth will be moving at second Auckland Airpark
13 Dec 2003 Property problems: Steps to stop landowners becoming motorway road kill
13 Dec 2003 BNZ warns of storm clouds gathering round NZ's growing economy
13 Dec 2003 The Secrets Of Property Investment
13 Dec 2003 Interest Rate Hikes Coming
12 Dec 2003 Advisers asked to back new life company
12 Dec 2003 Pero offers the other side
12 Dec 2003 Advisers asked to back new life coy
11 Dec 2003 Pero offers the other side
11 Dec 2003 Brickies hit the wall as demand rises
11 Dec 2003 Banks run scared on Waitara leases
11 Dec 2003 Raising retirement age positive
11 Dec 2003 New business, new man
11 Dec 2003 Dominion Funds offer questioned
11 Dec 2003 Panel probes Money Managers unit
11 Dec 2003 Raising Retirement Age Positive
11 Dec 2003 Bach fetches nearly $1 million at auction
11 Dec 2003 High rise apartments limited to North Shore's CBD
11 Dec 2003 Manukau house prices going up and up
11 Dec 2003 Business leader warns against rising house debt
10 Dec 2003 Banks start to move interest rates
10 Dec 2003 Banks start to move interest rates
10 Dec 2003 Banks start to move interest rates
10 Dec 2003 Busy year for AMP trust in vibrant Auckland market
10 Dec 2003 Apartment demand still building
10 Dec 2003 1000-apartment plan for central city site
10 Dec 2003 NZ Home Loans Cheaper Than Oz
10 Dec 2003 Groups fighting intensive housing
09 Dec 2003 Auckland property market easing
09 Dec 2003 BNZ raises floating mortgage rate
09 Dec 2003 Houses Crowd Out Retirement Savings
09 Dec 2003 Land cheaper on Moon than in Whangarei
09 Dec 2003 Hot auction for Hot Water Beach
09 Dec 2003 Council to tighten cladding rules
09 Dec 2003 Rethinking asset allocation
09 Dec 2003 Port Hills homes rank sixth in the country
09 Dec 2003 Anxiety levels to be tested
09 Dec 2003 Property in, saving out- survey
08 Dec 2003 Guardian Trust's new mortgage manager
08 Dec 2003 Adviserlink Fundamentals & Processes
08 Dec 2003 Houses crowd out retirement savings
08 Dec 2003 Anxiety levels to be tested
06 Dec 2003 The Mysteries of Bodies Corporate: A guide to the rights and responsibilities of
06 Dec 2003 Hanover Group at centre of property seminar collapse
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.
21 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