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Sally Lindsay
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10 regions hit record high sales prices

Monday 1st of November 2021

According to the latest data from realestate.co.nz listings are still down 16.1% compared to October last year. The website had its second biggest month of the year with 1.35 million visitors eyeing up properties.

For many years, supply has not met demand, but there are signs of a shift with a small increase in lower North Island listings last month compared with September.

“This could mean one of two things, that either demand is cooling in these regions, or more properties are being listed. Our site data suggests the latter,” says Vanessa Williams from realestate.co.nz.

In the past, Auckland had led the way a rise in listings, but it now seems Wellington and the surrounding regions are leading the charge with stock availability, she says.

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Advisers embrace Westpac after trail commissions removed
Doesn't this result call into question the criticism from certain quarters that Mortgage Advisers are driven predominantly by commission considerations?
4 hours ago The Laird
FMA wants clearer fees
@first time caller - I can see the complexity you highlight, but as above, investors should be able to see what they are paying without having to reference multiple documents. Investment admin can track and report deductions for tax, withdrawals, fees et al, would be /should be straightforward to aggregate advice fees into costs at member level... at least I hope so.
1 day ago Goldcard
FMA wants clearer fees
@goldcard - how would you propose that a fund manager calculates the TER to include adviser fees given not all clients pay them and different advisers charge different fees, not to mention some advisors charge different fees to different clients? The advice fee gets disclosed in the adviser's disclosure statement and the statement of advice, so the client can add that to the published TER of the fund they are invested in to see how much they are paying overall.
1 day ago First time caller
FMA wants clearer fees
Schedule 4 of the FMCA regs 2014, particularly clauses 2(1) and 53(3) provide the basis for excluding individually charged advice fees from the statutory TER. This was introduced with the best of intentions, but now it is little more than an invisibility cloak for deductions from member accounts.
2 days ago Goldcard
Ideas for reforming KiwiSaver
@Ross The evidence is pretty clear on that. When advisers work in the best interests of their customers, as opposed to putting their customers into the products that pay them the most, outcomes are improved. (Makes sense doesn't it? Financial advisers go from sales people for fund companies to client fiduciaries.) It might reduce access, but does someone with $50K in a KiwiSaver really need investment 'advice'? A risk profile questionnaire or similar is a much better way to help consumers get into the right fund, i.e. move from a Balanced Fund to a Growth Fund. Why have more developed investment markets, e.g. US, UK, Canada, Aus, Netherlands etc. have banned adviser commissions from fund providers? I'd also add that there is a large group of KiwiSaver customers that are paying someone an advice fee without getting anything beyond a cursory email once a year in exchange. As @Paul says, it's 'easy money' for advisers...
5 days ago Market Commentator