Archive - 2013
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December 2013
31 Dec 2013 FMA puts spotlight on paperwork
31 Dec 2013 Commercial investors feeling confident
30 Dec 2013 Where have they gone 2?
30 Dec 2013 Rise can't continue at this rate: Helm
29 Dec 2013 LVR rules tweaked
28 Dec 2013 Where have they gone?
27 Dec 2013 Sheriff Hughes ditches his horse for FMA departure
27 Dec 2013 Longer due diligence periods better: Whitburn
26 Dec 2013 Speech: Sean Hughes reviews the FMA's first three years
24 Dec 2013 One big bank to go
23 Dec 2013 CPD problems for insurance advisers
23 Dec 2013 Adviser-owned firm offered for sale
23 Dec 2013 Marketing needs examination: Judge
23 Dec 2013 Property market on hold
20 Dec 2013 Lots of rate changes to end the week
20 Dec 2013 Three Ross investors asked to pay back millions
20 Dec 2013 [Weekly Wrap] Looking ahead
20 Dec 2013 EDRs require long notice period
20 Dec 2013 Tyndall adds client relationship manager
20 Dec 2013 Expect a short pause: Newland
19 Dec 2013 Confidence may prompt OCR hike
19 Dec 2013 A time to QE taper but not tighten
19 Dec 2013 TMM online
19 Dec 2013 More advisers may work together in 2014
18 Dec 2013 Trilogy settles on syndicate building
18 Dec 2013 New appointments at Sovereign
18 Dec 2013 NZAM's new CEO
18 Dec 2013 Westpac follows ANZ
18 Dec 2013 NZPIF: WOFs not the best approach
17 Dec 2013 Questions about limited advice
17 Dec 2013 ANZ hikes all fixed rates
17 Dec 2013 Managed funds rules costly
17 Dec 2013 Rentals tested next month
16 Dec 2013 Another gong for Harbour
16 Dec 2013 Boost sector profile in 2014: Cortesi
16 Dec 2013 First-home buyers still absent: Survey
13 Dec 2013 [Weekly Wrap] How much training do you need?
13 Dec 2013 It's not a back down: Wheeler
13 Dec 2013 Carve out of new builds not a back-down: Wheeler
13 Dec 2013 2014: Facing Different Risks and Rewards
12 Dec 2013 Mortgage pain coming
12 Dec 2013 OCR held, but not for much longer
12 Dec 2013 OCR held, but for how long?
12 Dec 2013 $1.1m for advice software
12 Dec 2013 Sales below expectations: REINZ
11 Dec 2013 So RBNZ makes exceptions now
11 Dec 2013 KiwiSaver contributions still slow
11 Dec 2013 Skill level 'has dropped'
11 Dec 2013 New-look annuity type product explained
11 Dec 2013 Why New Zealand needs annuities
11 Dec 2013 Why we are exiting annuities: Milton Jennings
10 Dec 2013 Kiwibank chases borrowers with floating rate special
10 Dec 2013 Construction loans exempt from LVR rules
10 Dec 2013 Westpac splits ratecard
10 Dec 2013 Concern at stress-testing regime
10 Dec 2013 New homes exempt from LVR rules
09 Dec 2013 All but one Credit SaILS investors repaid
09 Dec 2013 Will the QE trick continue?
09 Dec 2013 Westpac splits floating rate
09 Dec 2013 NZ Income adds people
09 Dec 2013 Listen to what we say RBNZ urges
09 Dec 2013 Committee responds to conflict concerns
09 Dec 2013 Early signs of market change: QV
06 Dec 2013 Public not listening to us: RBNZ
06 Dec 2013 [Weekly Wrap] New rules on the way
06 Dec 2013 CPD change may be a challenge
06 Dec 2013 LVR rules are making a difference
06 Dec 2013 Alexander: Too early to claim impact on lending
05 Dec 2013 New Code submitted to FMA
05 Dec 2013 Rules are making a difference: Helm
05 Dec 2013 Home loan numbers creep up
05 Dec 2013 Five gems of wisdom. What are yours?
05 Dec 2013 LVR restrictions changing why houses sold
05 Dec 2013 Financial literacy organisation welcomed
05 Dec 2013 More rental properties available in Auckland: Report
05 Dec 2013 Bill to ban foreign investors
04 Dec 2013 Ennis new CEO
04 Dec 2013 Trans-Tasman investment opportunities limited
04 Dec 2013 Barfoot: Rules having no impact yet
03 Dec 2013 OCR increase is coming; Westpac chases FHBs
03 Dec 2013 Westpac enticing first home buyers to save
03 Dec 2013 Chances of an OCR increase early next year rise
03 Dec 2013 Advisers will pick up KiwiSaver: FSC
03 Dec 2013 Asking prices, listing numbers down.
02 Dec 2013 Insurance has a bright future, but needs to change: FSC
02 Dec 2013 Fund managers predict pick-up
02 Dec 2013 New board member at Plus4 Insurance Group
02 Dec 2013 First-timers buy one in five properties
01 Dec 2013 The Development of Adviser Technology
November 2013
29 Nov 2013 [Weekly Wrap] FMA in the news
29 Nov 2013 Changes at Westpac broker unit
29 Nov 2013 FMA wants to increase its hourly rate
29 Nov 2013 Trade Me claims overstated
29 Nov 2013 No name suppression for investor
28 Nov 2013 Shakeup at Westpac broker unit
28 Nov 2013 Impact of LVR restrictions revealed
28 Nov 2013 Higher-equity borrowers pick up mortgage slack
28 Nov 2013 New FMA chief executive named
28 Nov 2013 RESIMAC takes full control of home loan book
28 Nov 2013 FMA paying more visits to AFAs
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