Archive - 2004
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December 2004
31 Dec 2004 Nationwide regulation for Australian mortgage brokers
30 Dec 2004 Dyer appointed GM
29 Dec 2004 Returns should remain solid in 2005
27 Dec 2004 It's what you pick to put in your investment basket that counts - Mary Holm
27 Dec 2004 Diana Clement: Gains tax change only part of story
27 Dec 2004 Take the low road
27 Dec 2004 BNZ's ads escape censure - just
27 Dec 2004 Big development could be blocked
27 Dec 2004 Interest rate gift for Bollard
27 Dec 2004 500% interest on festive loans
27 Dec 2004 Backyard operators flouting the law, say backpackers
27 Dec 2004 Real estate in `great shape'
27 Dec 2004 Faulty systems ticked as safe
27 Dec 2004 Big banks' fixed home loan rates rise
27 Dec 2004 Orchard St tenants evicted
27 Dec 2004 Mega store opposed
27 Dec 2004 Finance companies lift game
27 Dec 2004 Hearing backs retention of riverside baches
24 Dec 2004 Three questions about the taskforce
24 Dec 2004 Christmas Greetings
23 Dec 2004 Platinum investors warned
22 Dec 2004 Southern Cross says all health insurers should be rated
22 Dec 2004 Adviser taskforce asks questions
21 Dec 2004 Superbank posts loss but growing steadily
21 Dec 2004 ANZ
21 Dec 2004 Taylor is Tower NZ ceo
21 Dec 2004 New chairman for Walker Capital Management board
20 Dec 2004 Macquarie buys 49% of Brook
20 Dec 2004 News Round Up
18 Dec 2004 Two year home loan war ending
18 Dec 2004 Mortgage Finance Ltd
18 Dec 2004 Mortgage Finance Ltd
18 Dec 2004 Auckland Property Investors Assn - North Shore meeting
18 Dec 2004 December - Property Investors Unite!
17 Dec 2004 Westpac raises fixed term interest rates
17 Dec 2004 ANZ cuts brokerage rates in Australia
16 Dec 2004 Macquarie buys PwC's financial planning business
16 Dec 2004 Sovereign appoints home loans head
16 Dec 2004 Sovereign appoints home loans head
15 Dec 2004 HFA - Pettett = ISI?
15 Dec 2004 Investor Guide: Getting prosperous from property
15 Dec 2004 AMP NZ Office Trust to raise $30M
15 Dec 2004 One-third of leaky building complex needs bulldozing
15 Dec 2004 Massive population growth predicted in Auckland
15 Dec 2004 Using alternative assets for diversification
15 Dec 2004 Knocking spots off the Aussies
15 Dec 2004 Key appointments at AIA
15 Dec 2004 Banks fend off finance companies
15 Dec 2004 GSF could be in line for a top up
15 Dec 2004 ASB still a market share winner
14 Dec 2004 Banks fend off finance companies
14 Dec 2004 Self-regulation preferable to legislation says CFA head
14 Dec 2004 Health Funds loses boss
13 Dec 2004 $7500 scholarships available for planners
13 Dec 2004 AXA Ambition Scholarship Programme
13 Dec 2004 Scholarship details
13 Dec 2004 News Round Up
13 Dec 2004 NZMBA introduces disclosure documents
13 Dec 2004 Property problems: Law review might clarify investment issues
13 Dec 2004 Diana Clement: Never too young to earn
13 Dec 2004 Safety comes from spreading it wide - Mary Holm
13 Dec 2004 Property boss hits back at rival
13 Dec 2004 NZMBA introduces disclosure documents
13 Dec 2004 $51.5 million deal secures new owner for Hilton Hotel
13 Dec 2004 Tenant is all set to fight eviction
13 Dec 2004 RB leaves interest rates unchanged
13 Dec 2004 Cheapest mortgages could hit 8.5pc
13 Dec 2004 Aidanfield buyers still waiting
13 Dec 2004 Capital Properties revalues
13 Dec 2004 Rents double at port
13 Dec 2004 What price this view?
13 Dec 2004 House values queried
10 Dec 2004 Hedge fund performance improving
09 Dec 2004 AMP appoints new head man
09 Dec 2004 Bollard leaves OCR unchanged but surpises with hawkish tone
09 Dec 2004 OCR unchanged at 6.5%
09 Dec 2004 NZ Super Fund could get major boost
08 Dec 2004 Radically different fixed interest fund launched
08 Dec 2004 Bank promises to consult on commission cuts
07 Dec 2004 ASSET December
07 Dec 2004 Reserve Bank expected to leave rates on hold
07 Dec 2004 Auckland Property Market Update
07 Dec 2004 Rescued from a financial hijacking
07 Dec 2004 Holiday home-letting tax wrong, say Nats
07 Dec 2004 Growers dismiss toxic soil fears
07 Dec 2004 Legal threat over subdivision
07 Dec 2004 Residents vow to fight dump expansion
07 Dec 2004 Tower plan stalls
07 Dec 2004 Christchurch rents tipped to drop
07 Dec 2004 Govt inaction on polluted sites exposing the innocent - lobby
07 Dec 2004 Poison under sites for housing
07 Dec 2004 Mortgage brokers' commissions get close eye from banks
07 Dec 2004 Boom times ending as debt rises
07 Dec 2004 Auction exceeds hopes
07 Dec 2004 Residents to pay for ant eradication
07 Dec 2004 Noisy apartments put to the test
07 Dec 2004 Minority group out of line - developer
07 Dec 2004 Paihigher?
07 Dec 2004 Luxury resort halted
07 Dec 2004 Rule change could help clean up property
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