Archive - 2016
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December 2016
30 Dec 2016 Wrapping it up: The year in review
28 Dec 2016 Rare rate change
28 Dec 2016 Property in the blood
27 Dec 2016 Obituary: John Body
23 Dec 2016 Promoting warmer, drier rentals
23 Dec 2016 Not so normal Christmas
23 Dec 2016 Philip's Christmas message
22 Dec 2016 Things we wish we could insure against over the holidays
22 Dec 2016 Capital’s time to shine
22 Dec 2016 Shake-up for apartment laws
22 Dec 2016 More than one reason why rates rising
22 Dec 2016 Non-bank lender experience good growth
21 Dec 2016 Surprise spike in mortgage lending
21 Dec 2016 OCR hikes on the horizon
21 Dec 2016 Guide to good conduct
21 Dec 2016 Dispute over $2 mill life policy heads back to court
21 Dec 2016 No end in sight for record migration
21 Dec 2016 Happy rental tidings for landlords
20 Dec 2016 Milford Private Equity Fund II oversubscribed
20 Dec 2016 TOP tax policy criticised
20 Dec 2016 Co-Operative Bank CEO moves on
20 Dec 2016 ANZ hikes
20 Dec 2016 Couillault maps out Hobson's path
20 Dec 2016 Sealing the deal
19 Dec 2016 Rising rates, quieter market
19 Dec 2016 Mortgage advisers get a new minister
19 Dec 2016 Lifetime Group gets life business, sells general
19 Dec 2016 FMA not happy with AML reporting (+ Special Guide)
19 Dec 2016 Flat consents add to Akld supply woes
19 Dec 2016 $1 million penalty for Hamilton price fixer
18 Dec 2016 The personal finance design revolution
18 Dec 2016 Financial Advisers get new minister
16 Dec 2016 An adviser's guide to AML Compliance
16 Dec 2016 TripleA Advisers Association appoints independent chair
16 Dec 2016 Lifetime Group gears up for mortgages
16 Dec 2016 Apartment solution stumbling
16 Dec 2016 New fund out; Booster in
16 Dec 2016 Sovereign's medical changes welcomed
16 Dec 2016 A year of two halves for non-bank sector
16 Dec 2016 Rising rates, quieter market
15 Dec 2016 $320,000 fine for Youi insurance
15 Dec 2016 US Fed hike: When a tiny move matters
15 Dec 2016 Apartment solution stumbling
15 Dec 2016 Sovereign makes changes to health cover
15 Dec 2016 Another Ozzy fund turns up
15 Dec 2016 NZ rates boost with Fed move
15 Dec 2016 Fed move will boost NZ rates
15 Dec 2016 It's official: Retirement Commissioner calls for change
14 Dec 2016 Draft meth standard released
14 Dec 2016 DTIs hit stumbling block
14 Dec 2016 KiwiSaver fees must be disclosed in dollars - in the future
13 Dec 2016 Auckland apartment market cools
13 Dec 2016 Progress of DTIs stalls
13 Dec 2016 Newpark adds tech manager
13 Dec 2016 Second global investor join AMP Capital property portfolio
13 Dec 2016 Adviser smashes speed golf record
13 Dec 2016 Investor blame game unfair
13 Dec 2016 Fidelity's new boss rings in the changes
13 Dec 2016 Ken and Barbie used to sell retirement message
13 Dec 2016 Rebuilding after disaster
12 Dec 2016 Investor blame game unfair
12 Dec 2016 AMP NZ gets a new managing director
12 Dec 2016 The Co-operative Bank introduces new ratecard
12 Dec 2016 Young developer starts off robo advice site
12 Dec 2016 Rise in prices, sales as LVR effect dims
09 Dec 2016 Ralph Stewart-associated super fund gets QROPs licence
09 Dec 2016 NZ poised to top global house price list
09 Dec 2016 One lender introduces DTIs
09 Dec 2016 No OCR change on horizon
09 Dec 2016 Plus4 Insurance Group appoints a new Chairman and director
08 Dec 2016 Auckland's hot spot suburbs
08 Dec 2016 UDC Finance posts record net profit
08 Dec 2016 It's time to shine your light
08 Dec 2016 CFFC calls for seven changes to KiwiSaver
08 Dec 2016 NZCU Baywide gets awarded
08 Dec 2016 Housing market NZ’s biggest domestic risk - RBNZ
08 Dec 2016 Housing market NZ’s biggest domestic risk - RBNZ
08 Dec 2016 Property predictions for 2017 – Colliers
08 Dec 2016 Tax proposal targets property owners
07 Dec 2016 Tax proposal targets property owners
07 Dec 2016 Housing initiative unable to progress
07 Dec 2016 Foreign buyers biggest market influence - poll
07 Dec 2016 ASB appoints new senior executive to lead its retail business
07 Dec 2016 Westpac takes long rates higher
07 Dec 2016 TSB cops formal AML warning
07 Dec 2016 Fisher appoints NZ equities manager
07 Dec 2016 Traditional balanced fund models may not deliver
06 Dec 2016 Check record before committing
06 Dec 2016 Simon Fisher catches a CEO role
06 Dec 2016 Pie Funds targets Europe and the UK from Hawkes Bay
06 Dec 2016 Insurance group Preferred NZ looks to come out of the shadows
05 Dec 2016 Will Key resignation pave way for NZ Super changes?
05 Dec 2016 Kiwibank rises; Say no to DTIs broker group says
05 Dec 2016 Fee debate welcomed
05 Dec 2016 Price rises stop in Auckland
04 Dec 2016 Trump: Uncertainty as well as hope
03 Dec 2016 Mortgage group writes to Finance Minister about DTIs
02 Dec 2016 New CEO at Southern Cross Healthcare
02 Dec 2016 Back to the novel for holiday reading
02 Dec 2016 DTI ratios not expected any time soon
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