Archive - 2019
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December 2019
31 Dec 2019 Hot demand in Hawke’s Bay
27 Dec 2019 NZ shares fall as blue chips take a breather; Metlife buoys retirement sector
27 Dec 2019 COMMENT: Off-the-plan investing in 2020
27 Dec 2019 Five things to look out for in 2020
24 Dec 2019 Retirement village shares feature in subdued Christmas trading
23 Dec 2019 NZ shares gain; retirement village operators buoyed by M&A
23 Dec 2019 The perils of leaving insulation late
21 Dec 2019 NZ Funds grows its UK pension transfer team
21 Dec 2019 UDC debenture programme all paid out
20 Dec 2019 Record year beckons for NZ shares; index reweighting drives big volume
20 Dec 2019 [The Wrap] Slow change coming
20 Dec 2019 Mortgage lending peaks in November
20 Dec 2019 Bachcare convicted of misleading consumers
20 Dec 2019 Craigs buys back Deutsche stake
20 Dec 2019 TSB rate changes; Are the odds of another OCR cut falling?
20 Dec 2019 Milford rolls out KiwiSaver advice
19 Dec 2019 Southern Cross launches advisory group
19 Dec 2019 Sharemarket extend gains; Metlifecare knocks back takeover bid
19 Dec 2019 Chances of OCR cut not high: Alexander
19 Dec 2019 More changes in fund research market
19 Dec 2019 SFO starts investigation into East Wind
19 Dec 2019 Investor confidence high; New CEO at ANZ
19 Dec 2019 Commercial confidence at three year high
18 Dec 2019 MBIE urges caution for FAPs engaging multiple advisers
18 Dec 2019 NZ shares march higher as holiday trading takes hold
18 Dec 2019 Strong market upturn picked for 2020
18 Dec 2019 Watson appointed ANZ New Zealand CEO
18 Dec 2019 Kiwibank and SBS near FAP licensing decision; Non-bank lending soars
18 Dec 2019 Kiwibank and SBS near FAP licensing decision
17 Dec 2019 Advisers: Licence process simple, but not many have done it
17 Dec 2019 Sharemarket plays catch up after yesterday’s outage
17 Dec 2019 ANZ's chair Gonski delivers a mea culpa to shareholders
17 Dec 2019 [GRTV] Lessons from Harbour's first 10 years
17 Dec 2019 Non-bank lending soars
17 Dec 2019 Partners Life criticises Vitality
17 Dec 2019 Share your views on property investing
17 Dec 2019 Economists revise OCR outlook
16 Dec 2019 Ross parole: Investors emotional
16 Dec 2019 New boss at BNZ private bank
16 Dec 2019 Consilium appoints head of wrap platform solutions
16 Dec 2019 NZ shares dip as NZX outage stops trading early
16 Dec 2019 Economists revise OCR outlook
16 Dec 2019 New infrastructure funding tool announced
16 Dec 2019 Westpac, BNZ rate increases; Resimac asset finance deal
16 Dec 2019 Resimac moves into asset finance
15 Dec 2019 Problems identified with custody arrangements
13 Dec 2019 Z Energy sinks on profit warning
13 Dec 2019 Reserve Bank demands improvements from ANZ; Record house prices
13 Dec 2019 Record prices see upturn gathering pace
13 Dec 2019 Bill tabled that will bring new conduct rules for financial institutions
12 Dec 2019 Infrastructure spend buoys investors; Bellweather stock rises
12 Dec 2019 Reserve Bank demands improvements from ANZ
12 Dec 2019 My wildly unhelpful prediction …
12 Dec 2019 How advisers conquered Australia; best mortgage options over the next 5 years
12 Dec 2019 Who loves apartments the most
12 Dec 2019 Home a-loan this Christmas
12 Dec 2019 Home a-loan this Christmas
12 Dec 2019 Short term the cheapest option over next five years: ASB
11 Dec 2019 NZ shares nudge higher; ports gain ahead of Northport study
11 Dec 2019 Earnings deliver, trade fears fade
11 Dec 2019 nib and Cigna join forces
11 Dec 2019 Partners Life tweaks policies
11 Dec 2019 High rents the new normal
11 Dec 2019 ASB and Westpac delay licensing decision
11 Dec 2019 ASB and Westpac delay licensing decision
11 Dec 2019 [GRTV] Harbour Asset Management – Andrew Bascand
11 Dec 2019 Platform wars heat up
11 Dec 2019 Investment ahead for Aegis
10 Dec 2019 NZ shares rise as A2 recovers
10 Dec 2019 Defining “clean and tidy”
10 Dec 2019 HealthLink and Konnect NET to merge
10 Dec 2019 SHARE becomes mortgage aggregator
10 Dec 2019 SHARE becomes mortgage aggregator
10 Dec 2019 Half of CBL investors join Harbour-led class action case
10 Dec 2019 COMMENT: Landlords obligations to tenants
09 Dec 2019 Salt reopens fund
09 Dec 2019 Link launches micro-investing app
09 Dec 2019 MBIE expects advisers to bear costs of regime change
09 Dec 2019 A2 CEO’s shock exit weighs on stock market
09 Dec 2019 A2 Milk boss steps down, NZSA says board must be held to account
09 Dec 2019 Buyer sentiment at seven year high
09 Dec 2019 Warning on borrowing rates; Kiwibank rate rise
09 Dec 2019 Warning on borrowing rates
09 Dec 2019 CEO of health insurer stepping down
09 Dec 2019 Clients expect deep RI understanding: Kiwi Wealth
06 Dec 2019 NZ shares edge higher as US-China trade talks drag on
06 Dec 2019 Putting the RBNZ's new capital rules into perspective
06 Dec 2019 [Opinion] Putting the RBNZ's new capital rules into perspective
06 Dec 2019 Putting RBNZ's new capital rules into perspective
06 Dec 2019 Advisers share top concerns
06 Dec 2019 Has property had its day in the sun?
05 Dec 2019 Low emissions, higher value, report suggests
05 Dec 2019 Proposed changes should help industry, insurers say
05 Dec 2019 Banks rally on Reserve Bank capital decision
05 Dec 2019 Reserve Bank reveals new capital rules
05 Dec 2019 OCR to fall less than expected?; Property Investor Survey
05 Dec 2019 Transfer times and why they matter
05 Dec 2019 OCR to trough at 0.75%: ASB
04 Dec 2019 BNZ Investments mints new independent director
04 Dec 2019 [GRTV] Apathy still reigns amongst advisers
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