Archive - 2010
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December 2010
31 Dec 2010 Perpetual boosts Portfolio Management group
30 Dec 2010 Finance coys cut costs, lifted interest margins: KPMG
30 Dec 2010 News Round Up: December 29
30 Dec 2010 Sec Comm adds staff
30 Dec 2010 Landlord "screwed" by HNZ
29 Dec 2010 Landlords face higher rates after valuation anomalies
24 Dec 2010 Tis the season to be floating
24 Dec 2010 Rates at Christmas
24 Dec 2010 Ratings downgrade for Oxford Finance
24 Dec 2010 Christmas Greetings (and more)
23 Dec 2010 Deloitte steps down as Equitable receiver
23 Dec 2010 Goldman Henry makes changes
23 Dec 2010 Sovereign's credit rating confirmed
23 Dec 2010 New conditions for QFEs
22 Dec 2010 TSB increases market share slightly
22 Dec 2010 Broadlands terribly frustrated with S&P
22 Dec 2010 Discrimination under attack
22 Dec 2010 Goldridge links up with Ginger Group
22 Dec 2010 OCR predictions for 2011
22 Dec 2010 Business bought because baby born
22 Dec 2010 SBS grows its mortgage book
22 Dec 2010 Two newbies at FundSource
22 Dec 2010 Despite a lift, housing market mood remains sombre
21 Dec 2010 OCR predictions for the New Year
21 Dec 2010 Prison for former Five Star directors
21 Dec 2010 Investors warned not to publicly air grievances
21 Dec 2010 LAQC changes show amazing arrogance and sloppiness: Labour
20 Dec 2010 Rates Update: Banks tweak short term rates
20 Dec 2010 News Round Up: December 19
20 Dec 2010 Affordability can have dramatic impact: Dickens
20 Dec 2010 Mortgagee sales down, focus of forced sales changes
17 Dec 2010 Guardian Trust sold to Australians
17 Dec 2010 What a difference a year makes
17 Dec 2010 Competition heats up in the one-year space
17 Dec 2010 TOWER gets Asteron man into team
17 Dec 2010 Set B exam no walk in the park
17 Dec 2010 Heartland Bank one step closer
16 Dec 2010 Broadlands expected to show dramatically improved result
16 Dec 2010 Poore to Super Fund
16 Dec 2010 Clarification around Standard Set B exams
16 Dec 2010 Brown goes from FNZC to Harbour
15 Dec 2010 ANZ confirms head of broker distribution
15 Dec 2010 Ethical investment on the rise
15 Dec 2010 Ginger group cosies up with mortgage brokers
15 Dec 2010 Reserve Bank sees further house price falls
14 Dec 2010 BNZ's mortgage book grew at twice its market share
14 Dec 2010 Finally a bounce
14 Dec 2010 Brent McGregor joins Allied Kiwi
14 Dec 2010 Retirement Commission rules out compulsory KiwiSaver
14 Dec 2010 Loan Market gets a bit of Ginger
14 Dec 2010 What's happening across the regions
14 Dec 2010 Rental looking good, residential moribund
14 Dec 2010 House price values and sales boosted by late spring surge
13 Dec 2010 Rates Update: TSB leads in one-year term
13 Dec 2010 Rates Round Up: C+M directors to fight charges
13 Dec 2010 News Round Up: December 13
13 Dec 2010 Hassan joins international body
13 Dec 2010 North v South: Which island offers the best investment locations
10 Dec 2010 Macquarie removes the cash management edge
09 Dec 2010 Forsyth Barr appoints new Investment Adviser to Dunedin Branch
09 Dec 2010 Standard & Poor’s lowers Broadlands Finance credit rating
09 Dec 2010 Former advisers charged over ponzi scheme
09 Dec 2010 Capital + Merchant directors face SFO charges
09 Dec 2010 No hurry to fix after OCR announcement
09 Dec 2010 The OCR's road to recovery
09 Dec 2010 OCR steady at 3 pc
09 Dec 2010 KiwiSaver enters ‘hard yards’ phase
09 Dec 2010 Rates left unchanged over stimulus effect concerns
08 Dec 2010 Powerco bucks trend in securing bank debt
08 Dec 2010 Grosvenor announces QFE plans
07 Dec 2010 Another finance company shuts up shop
07 Dec 2010 Women in Finance
07 Dec 2010 Future proof business from up front commission cuts
07 Dec 2010 Boomert leaves Tower Health and Life
07 Dec 2010 Sovereign Mk III in the making
07 Dec 2010 LAQC changes confirmed
07 Dec 2010 Property values begin to stabilise
06 Dec 2010 Banks innovate in short-term rates
06 Dec 2010 Rates Round Up: Dec 6
06 Dec 2010 News Round Up: December 6
06 Dec 2010 Diversified creates Advisory Board of Directors
06 Dec 2010 RBNZ grants exemptions to finance companies
05 Dec 2010 No interest rate rise for Christmas
05 Dec 2010 Predicting research houses
03 Dec 2010 Securities Commission shows its awake
03 Dec 2010 The charges against: Nathans Finance
03 Dec 2010 Fendal Finance
03 Dec 2010 Dominion Finance Group and North South Finance
03 Dec 2010 Lombard Finance & Investments
03 Dec 2010 The charges against: Capital + Merchant Finance
03 Dec 2010 The charges against: National Finance
03 Dec 2010 The charges against: Bridgecorp
03 Dec 2010 The charges against: Five Star Consumer Finance and Five Star Finance
03 Dec 2010 Blue Chip ruling a relief for lenders
03 Dec 2010 Westpac's mortgage growth slows
02 Dec 2010 Two tiered AFA disclosure
02 Dec 2010 Dorchester scores an own goal
02 Dec 2010 Rate rises on the horizon
02 Dec 2010 Swap rates starting to pick-up
02 Dec 2010 Liberty Group aligns with TNP
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