Archive - 2015
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December 2015
31 Dec 2015 Get your business on track for 2016
31 Dec 2015 Christchurch Central: Rising from the rubble
30 Dec 2015 FAA forums
30 Dec 2015 Focus on what's important in 2016
30 Dec 2015 What to look out for in 2016
29 Dec 2015 Housing with a heart
24 Dec 2015 Looking back on 2015
24 Dec 2015 Kauri controversy overlooks property rights
23 Dec 2015 Commercial market growing
23 Dec 2015 Rezoning windfall?
23 Dec 2015 IDS hires key industry figures
23 Dec 2015 Agreement disputes part of evolution: IFA
23 Dec 2015 Zone changes may be windfall for investors
22 Dec 2015 Harbour picks up mandate from AMP
22 Dec 2015 Mortgage lending grows
22 Dec 2015 Adviser career path needed
22 Dec 2015 NZIER economist appointed by wealth management firm
21 Dec 2015 Record breaking migration continues
21 Dec 2015 New proposal for banks off-quarter reporting
21 Dec 2015 Changing future for tenancies
21 Dec 2015 Times are changing
21 Dec 2015 KiwiSaver providers should take better care, Vernon says
21 Dec 2015 Banking on change
18 Dec 2015 Advisers vital for KiwiSaver: Beattie
18 Dec 2015 Muted response to Fed move
18 Dec 2015 Options paper discussed
17 Dec 2015 LendMe rejects fee criticism
17 Dec 2015 Finally
17 Dec 2015 Comcom charges real estate agencies after Trade Me row
17 Dec 2015 Rents on the rise
17 Dec 2015 Advertising of soft-dollar tempters not a good look
17 Dec 2015 FMC moves positive for clients: AMP
16 Dec 2015 Rents hit new high in Auckland
16 Dec 2015 Inflation risks skewed to the downside
16 Dec 2015 New director for Plus4
16 Dec 2015 What tenants want
16 Dec 2015 The Wolf Talks Turkey
16 Dec 2015 Advisers overdue for a pay rise
16 Dec 2015 Deposits to be returned to Springpark buyers
15 Dec 2015 Drop in apartment investment
15 Dec 2015 What tenants really want
15 Dec 2015 Being aware of urban change drivers
15 Dec 2015 Entity licensing benefits no one: Whyte
15 Dec 2015 Rewrites upset investors
15 Dec 2015 Jennings: No commission for replacement business
15 Dec 2015 AMP may wind up fund
15 Dec 2015 Take note of urban change drivers
14 Dec 2015 Regulatory changes slow Auckland market
14 Dec 2015 LendMe fees under question
14 Dec 2015 Active managers must be better...
14 Dec 2015 Retirees an advice opportunity
14 Dec 2015 Comcom examines LendMe fees
11 Dec 2015 Variable annuities get green light
11 Dec 2015 Momentum shifting
11 Dec 2015 Kiwis doubt their financial knowledge
11 Dec 2015 Partners offers mobile tests
11 Dec 2015 Harmoney to launch insurance product
11 Dec 2015 Harmoney to launch insurance product
10 Dec 2015 REINZ data shows market cooling
10 Dec 2015 GFS scoops up adviser awards
10 Dec 2015 National price growth strong
10 Dec 2015 BNZ makes third party distribution appointment
10 Dec 2015 Reluctance to cut may be wrong
10 Dec 2015 Tenancy Tribunal has bite
10 Dec 2015 OCR cut to 2.5%
10 Dec 2015 What the Reserve Bank said today
10 Dec 2015 OCR cut, maybe for final time. Rate cuts started
10 Dec 2015 Associations should step up to help consumers find advisers: Boyle
09 Dec 2015 NZTS deal done
09 Dec 2015 How Much Would You Pay to Live One Year Longer?
09 Dec 2015 What will the RBNZ say?
09 Dec 2015 Bolton: How do investors know P2P right for them?
09 Dec 2015 Cameron: MJW made little difference to FAA options
09 Dec 2015 GST decision could lead to higher fees
09 Dec 2015 New chair for NZSF
09 Dec 2015 Get smoke alarms, insulation sorted
08 Dec 2015 Pro bono work for IFA members
08 Dec 2015 Stephens to retire from Lifetime
08 Dec 2015 New magazine out now: Apartment Living
08 Dec 2015 Advisers ask: Is it fair accountants, lawyers outside law?
07 Dec 2015 Off the plan buys outside LVRs
07 Dec 2015 Oyster's latest offer promises 8.4% return
07 Dec 2015 Warming to responsible investing
07 Dec 2015 End of an era for Fidelity Life chief
07 Dec 2015 Fidelity Life CEO steps down
07 Dec 2015 Industry asks: Is transactional advice relief working?
04 Dec 2015 Mixed predictions for OCR movement
04 Dec 2015 Odds are on an OCR cut
04 Dec 2015 Senior Trust achieves listing
04 Dec 2015 PIMCO platform launches
04 Dec 2015 Harmoney changes fee structures
03 Dec 2015 Whangarei climbing out of Auckland’s shadow
03 Dec 2015 Devon 12th manager to get licence
03 Dec 2015 Health insurance bill defeated
03 Dec 2015 Mixed data seals deal
03 Dec 2015 Pain expected with FAA changes
03 Dec 2015 Grosvenor adds to research team
03 Dec 2015 Fears any new licensing regime will be onerous
02 Dec 2015 New normal threatens RBNZ tactics
02 Dec 2015 Threat to global growth from rising inventories
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.
22 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