Archive - 2021
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December 2021
31 Dec 2021 [The Wrap] Is a big problem hatching?
31 Dec 2021 NZ shares break nine-year winning streak
30 Dec 2021 NZ shares, kiwi push higher in light holiday trading
29 Dec 2021 Michael Hill storms higher on positive earnings upgrade
24 Dec 2021 ComCom has concerns over Ampol's Z bid
24 Dec 2021 Aegis gets a new owner
23 Dec 2021 Flat day for the NZX50 as negative year beckons
23 Dec 2021 Pressure building over CCCFA
23 Dec 2021 Industry wants minister's ear over CCCFA
23 Dec 2021 [The Wrap] Big Year; Big Issues
22 Dec 2021 Ebos drags NZX50 higher as healthcare stocks find favour
22 Dec 2021 Cigna extends adviser-only campaign
22 Dec 2021 Mass media praise the value of advice
22 Dec 2021 AMP disappearing from NZ
21 Dec 2021 Exporters rally as omicron tames kiwi
21 Dec 2021 Moola pinged for cartel behaviour
20 Dec 2021 NZ shares outperform as omicron looms over Asia
20 Dec 2021 AIA grants - making a difference with advisers
20 Dec 2021 Westpac issues its forecast for next year
20 Dec 2021 Westpac issues its forecast for 2022
20 Dec 2021 Thousands yet to apply for full FAP licences
17 Dec 2021 Eroad shares surge as it joins NZX 50
17 Dec 2021 Telehealth can help manage home isolation cases
17 Dec 2021 POSTPONED: FSC advice summit set for February
17 Dec 2021 Avanti becomes the second largest non-bank lender
17 Dec 2021 Avanti becomes the second largest non-bank lender
17 Dec 2021 AIA NZ's general counsel named an elite lawyer for 2021
17 Dec 2021 FMA clarifies Wisdom House FAP cancellation decision
16 Dec 2021 The top deck shuffle continues at RBNZ
16 Dec 2021 Economy slows less than expected
16 Dec 2021 NZ shares down as US Fed signals hikes
16 Dec 2021 MBIE’s ‘myopic focus on fees' hurts default KiwiSaver members
16 Dec 2021 2021: A year so tough even the New Zealand share market fell
15 Dec 2021 Shares dip ahead of US Fed meeting
15 Dec 2021 Financial Advice NZ gets new chair
15 Dec 2021 Petition launched against CCCFA
15 Dec 2021 Foundation Advice - proving the naysayers wrong
14 Dec 2021 NZ shares retreat from rally
14 Dec 2021 New board chairperson at Accuro
14 Dec 2021 Old school cold calls still make a difference
14 Dec 2021 Basecorp secures more funding
14 Dec 2021 Basecorp secures more funding to increase its lending
14 Dec 2021 'It's a bond massacre' - change ahead for investment portfolios
14 Dec 2021 Non-bank sector says CCCFA will harm lockdown recovery
13 Dec 2021 NZ shares up with inflation 'not too hot'
13 Dec 2021 Adviser loses transitional licence
13 Dec 2021 Cold call changes insured's life
12 Dec 2021 Russell pushes buttons for the adviser market
11 Dec 2021 Cannabis growing operation leads to eviction
10 Dec 2021 Big acquisitions lift NZX 50
10 Dec 2021 Partners Life defends premium increases
10 Dec 2021 Classic hits of 2021 revisited (plus all the new releases)
10 Dec 2021 Buyers’ market expected to emerge next year
10 Dec 2021 Aurora set to light up the market
10 Dec 2021 KiwiSaver 2.0 - Financial advice for all
10 Dec 2021 Mindful Money launches impact investment directory
09 Dec 2021 Kiwibank faces court action after home loan customers overcharged
09 Dec 2021 NZ shares settle down after rally, Fonterra units jump
09 Dec 2021 Kiwibank apologises for wrongly charged fees – Still faces court
09 Dec 2021 EXCLUSIVE: Regulation and workloads driving advisers to drink
08 Dec 2021 Wealthpoint advisers benefit from commission changes
08 Dec 2021 NZ shares come roaring back
08 Dec 2021 Cigna employs five senior staffers
08 Dec 2021 Cigna helps advisers meet regulation requirements
08 Dec 2021 High end house prices push up averages
07 Dec 2021 FNZ onboards new client servicing company
07 Dec 2021 Sky TV leads NZX 50 higher
07 Dec 2021 Partners Life set to increase premiums
07 Dec 2021 Aurora establishes head of mortgages
07 Dec 2021 Surprise move; A rates cut
07 Dec 2021 RBNZ to pull back to neutral on the economy
07 Dec 2021 Advisers' AML risks assessed
07 Dec 2021 Buy/sell spreads will cost KiwiSaver members
06 Dec 2021 New rules for non-deposit takers
06 Dec 2021 Frothy markets simmer down
06 Dec 2021 Robertson defends CCCFA changes
06 Dec 2021 Robertson defends CCCFA changes
06 Dec 2021 AMP increases focus on digital distribution
03 Dec 2021 Shares close unchanged; Napier Port booted from NZX 50
03 Dec 2021 FSC conference starts Monday
03 Dec 2021 Fear of missing strides out the back door
03 Dec 2021 Gang violence leads to eviction
03 Dec 2021 Non-banks to be run off their feet
03 Dec 2021 Non-banks to be run off their feet
03 Dec 2021 The next big thing
02 Dec 2021 Omicron in the US hits market
02 Dec 2021 Cigna to rebrand as Chubb
02 Dec 2021 Forsyth Barr launches funds management business
02 Dec 2021 Salt adds senior analyst
01 Dec 2021 Omicron and inflation risks flatten share market
01 Dec 2021 Harbour launches its new Sustainable Impact Fund
01 Dec 2021 Simplicity drops membership fees for all products
01 Dec 2021 Premiums refunded after funeral cover exceeds sum insured
01 Dec 2021 Milford makes significant board appointment
01 Dec 2021 RBNZ outlines options for cash system reform
01 Dec 2021 Reserve Bank appoints new Assistant Governor
01 Dec 2021 Floating higher; What's keeping advisers awake at night
01 Dec 2021 Southern Cross offers free wellbeing services
01 Dec 2021 New Reserve Bank Assistant Governor appointed
01 Dec 2021 Kiwi Wealth appoints familiar face as new CEO
Latest News
Can AI pick the best KiwiSaver provider?
Can AI pick the best KiwiSaver provider?
4 min read
[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
Latest Comments
FE Investments in receivership
Fei , trustees still hold large of money not yet refund fully.
1 week 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?
3 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.
3 weeks ago P Urbani