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Latest Headlines

Managers issue risk warning

Fund managers are warning that the risk indicators they use in information for investors may make their funds seem less volatile than they really are.

Monday, August 21st, 6:00AM

Risk indicators were introduced as part of the Financial Markets Conduct Act. 

Managers must give information on their funds’ risks in their PDS, as an entry in the Disclose register when the PDS is lodged, and in every fund update.

But the risk indicators are determined by historic volatility, based on the most recent five years of fund returns.

Concerns were raised before the risk indicators were introduced, and now almost nine months in to the new regime, managers are still unconvinced ...MORE»

Getting to Know: Peter Neilson

Friday, August 18th, 11:00AM  1 comment

Peter Neilson was the chair of the Financial Services Council until insurers quit in revolt over a report into insurance commissions, and was the Associate Minister of Finance during the sharemarket crash. Here, he talks about why advisers should be more like surgeons.

MORE»

Pro-bono work recognised

Friday, August 18th, 6:00AM

A pro bono initiative run by the Southland branch of the IFA could be replicated across the country when Financial Advice NZ becomes operational.

MORE»

Court sides with i-Select

Advice firm Saturn Portfolio Management has lost its fight against a superannuation scheme provider’s move, which it says has cost it clients.

Thursday, August 17th, 11:00AM  1 comment

Saturn had an arrangement with i-Select that allowed it to transfer UK pensions to New Zealand. It was one of about 50 authorised providers.

But i-Select terminated the contract.

Saturn says that led to 60%, or about 100, of its clients leaving. It went to court arguing for an interim injunction, claiming a risk of further client losses.

Saturn was also suing GBPensions, and former Saturn adviser Lester Luey and his new company, of which GBPensions is a shareholder ...MORE»

New legislation may give advice industry new life

Wednesday, August 16th, 6:00AM  2 comments

The financial advice industry is well-positioned for growth, if it is willing to make changes.

MORE»

QFEs get licensing head-start

Tuesday, August 15th, 6:00AM  11 comments

Dealer groups and adviser networks may opt for financial advice provider status (FAP) under the new legislation, but it is expected to be an easier transition for existing qualifying financial entities (QFEs).

MORE»

More Headlines
Insurance Review Sponsored by: 

Industry must face up to trend for commission regulation

Friday, July 15th, 11:51AM  8 comments

Massey University's Michael Naylor discusses the FMA's report on insurance replacement business. MORE»

Mortgage Centre Sponsored by: 

SBS eyes partnership with mortgage advisers

Tuesday, August 1st, 11:19AM

The bank says around a third of its business now comes from advisers and chief executive Shaun Drylie gives his views on commission models. MORE»

Insurance Centre Sponsored by: 

Solid result from AMP

Friday, August 18th, 10:56AM

Blair Vernon describes his first results as general manager of AMP New Zealand as “solid” and carrying on the work done by his predecessor, Jack Regan. MORE»

Regulation Sponsored by: 

FARs - where's the accountability?

Wednesday, March 29th, 6:00AM  16 comments

It is appropriate for financial advice providers to be accountable for their financial advice representatives, because they are simply acting as a conduit between the provider and the client, the Ministry of Business, Innovation and Employment says. MORE»

People and Events Sponsored by: 

Devon grabs high profile CIO from bank

Monday, August 21st, 6:01AM

Devon Funds Management has appointed a new chief investment officer who has for many years been with one of its competitors. MORE»

Deposit Rates Sponsored by: 

Finance boost for UDC buyer

Monday, July 3rd, 8:34PM

TIP Trailer Services, a subsidiary of HNA Group leading the purchase of UDC from ANZ, has secured new financing arrangements to a total of $2.7 billion for UDC which will be effective when the sale is complete. MORE»

KiwiSaver   

Strategi launches KiwiSaver course

Sunday, August 20th, 7:35PM

Strategi has launched an NZQA-accredited course for people who want to offer advice on KiwiSaver. MORE»

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