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Latest Headlines

Plan for Uber of financial advice

Former Lifetime boss Warren Stephens says he hopes his newly-launched financial services firm will help him achieve his vision of “Uber-ising” financial services.

Friday, April 29th, 6:00AM

Uber is the online transport network that has shaken up the taxi industry by allowing passengers to get in touch directly with people willing to drive them.

Stephens, who was chief executive of Lifetime, has left to set up financial advice firm Centastone.

His retirement from the role took effect from the end of March. Stephens said his decision to retire rather than resign was to enable him to exercise a protocol in the shareholders’ agreement that was more advantageous for him ...MORE»

Agreement clears way for managers' international expansion

Thursday, April 28th, 6:16PM

Fund managers will get more access to Australia, Japan and Korea under new agreement - and international managers will find it easier to offer product in New Zealand.


Healthy job market for advisers, recruiter says

Thursday, April 28th, 6:00AM

Financial advisers are expected to be in increasingly high demand over the coming years as established firms struggle to cope with growing consumer demand for advice, one recruitment firm that deals with the financial services sector says.


Better disclosure needed - but how?

[UPDATED] Financial service providers agree standardised disclosure documents would help the advice industry– but what they should say and what they might look like is still a matter for debate. (Now with link to Share Submission)

Wednesday, April 27th, 6:00AM  4 comments

The Ministry of Business, Innovation and Employment has released the submissions it received in response to the options paper for the review of the Financial Advisers Act.

In it, MBIE said it knew there were concerns AFAs having to meet strict disclosure requirements, while RFAs did not, could be misleading for consumers, and that what was being disclosed was not meaningful.

It proposed a number of options, including that all advisers could be required to disclose the same information in the same format, the disclosure requirements could be reviewed to make them more meaningful, or consumers could be referred to the Financial Service Providers Register or another website for more information about their advisers ...MORE»

Thumbs up for roboadvice rules

Wednesday, April 27th, 5:59AM

New Zealand financial institutions are welcoming moves to allow roboadvice in this country.


Banks keen to hold on to QFE model

Tuesday, April 26th, 6:00AM  12 comments

Banks have argued in favour of being allowed to retain their existing QFE model and rejected attempts to better delineate between advice and sales, in their submissions on the Financial Advisers Act review.


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MJW fallout unexpected

Friday, March 11th, 10:39AM  8 comments

One of the actuaries who prepared a controversial report into insurance commissions says he was surprised by the industry fallout from it. MORE»

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OCR hold right call – for now

Thursday, April 28th, 10:21AM

Leaving the OCR on hold today was the right decision, but there will be further cuts down the track, economists say. MORE»

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PAA sorry for launch invitation

Thursday, April 28th, 11:00AM  1 comment

A mass email from the Professional Advisers Association inviting its members to a Partners Life product launch has been swiftly followed by an apology and an assurance that "this type of communication will not be sent to members in the future."  MORE»

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IDS to offer complaint service

Wednesday, April 13th, 5:59AM

Compliance firm IDS is to tap the skills of its newly-appointed general manager to offer a new service to help advisers manage complaints. MORE»

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Workplace Savings board members step down

Thursday, April 28th, 6:00AM

David Boyle and David Wallace have ended their terms on the board of Workplace Savings. MORE»

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Chorus offers bonds with minimum 4.1% rate

Monday, April 11th, 10:30AM

Chorus has announced an offer of five-year unsecured, unsubordinated fixed-rate bonds. MORE»


Unfounded fears put people off KiwiSaver

Friday, April 29th, 5:00AM

New Zealanders with memories of financial crisis pain may be letting misinformation get in the way of retirement savings, a new survey shows. MORE»

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Latest Comments
  • Banks keen to hold on to QFE model
    “The word "Advisor" has been devalued in the NZ industry. Get rid of the definition "QFE Advisor". Replace with "QFE Salesperson"....”
    1 day ago by b p
  • Banks keen to hold on to QFE model
    “If you cut through all of the self serving and deliberately confusing Bank blather the equation is simple: Bank=no advice,...”
    2 days ago by I was wondering
  • Associations' stance questioned
    “Murray makes many valid points – but isn’t the argument is getting overly polarised? Isn’t there a future ‘middle...”
    2 days ago by Andrew Gunn
  • Better disclosure needed - but how?
    “Just reposting my earlier response to Scott's points about inconsistency (as Scott's previous comment was either deleted...”
    2 days ago by Sceptical
  • Associations' stance questioned
    “Breaking news Gospel of Comprehensive Planner discovered revealing “IFA is the way, the truth and the life, and no...”
    3 days ago by Murray Weatherston
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