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Last Article Uploaded: Wednesday, July 8th, 5:57PM
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Scrap designations and replace with advisers and sales people

The current designations for financial advisers should be scrapped and replaced with two new groups, advisers and distributors, Barry Read says.

Wednesday, July 8th, 6:00AM  11 comments

Read, who runs consultancy firm IDS, says advisers would give advice and have a fiduciary responsibility to clients, while the distributors would be product sellers.

There would be an element of buyer-beware with the distributors, he says.

“Some people are happy to be sold a product,” he says.

The advisers could be licenced in any category, such as wealth management, investment, life insurance and mortgages, and they would be monitored ...MORE»

Advisers may miss their chance: Cortesi

Tuesday, July 7th, 6:00AM  1 comment

Many financial advisers are not taking the review of the Financial Advisers Act seriously enough, the president of the PAA says.


Sovereign confirms Select sale

Tuesday, July 7th, 5:34AM

Sovereign has finally confirmed its intention to sell its Select Wealth Management service to JMIS, as first reported by Good Returns


Milford clients jump ship

A $1.5 million settlement with the FMA has not been the only blow to Milford Asset Management as a result of the investigation into alleged market manipulation.

Monday, July 6th, 5:55PM

It has been revealed today that the manager has lost five wholesale clients, including financial services firm Mercer.

Milford has over $3 billion under management, including KiwiSaver funds.

The Milford portfolio manager involved in the FMA investigation was not a party to the recent settlement and is still facing enforcement action from the FMA. 

Managing director Anthony Quirk told media the five clients had withdrawn $130 million ...MORE»

FMA: Settlement gives investors more

Monday, July 6th, 9:59AM

An $18 million settlement negotiated with the former directors of Hanover Finance, Hanover Capital and United Finance is a better outcome than would have been achieved through court, the FMA says.


FMA targets investor knowledge

Monday, July 6th, 6:00AM  3 comments

The FMA says it wants to see more investors seeking financial advice.


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Falling business confidence points to... OCR cuts

Tuesday, July 7th, 12:34PM

A sharp decline in business confidence has led ASB to formally join the economists predicting three more OCR cuts by the end of the year. MORE»

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Why Dealer Group QFEs isn't a far-fetched idea

Sunday, July 5th, 3:19PM  1 comment

The reaction to the idea that dealer groups should or could become QFEs has certainly created some friction. Don't write the idea off...here's why. MORE»

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Qualification questions may cause concerns

Thursday, May 28th, 6:00AM  3 comments

A crackdown on adviser qualification requirements could prompt some to leave the industry, it has been claimed. MORE»

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Obituary - Bob Edwards

Tuesday, July 7th, 9:43AM  1 comment

Well-known South Canterbury adviser Bob Edwards passed away recently. John Wood has kindly penned this Obituary. MORE»

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General Finance experiencing good growth

Thursday, July 2nd, 2:56PM

General Finance is seeing growth in its business as investors chase good yields. MORE»


KiwiSaver members urged to ponder asset allocation

Tuesday, June 23rd, 2:22PM

Conservative KiwiSaver funds are being tipped to barely outperform cash over the next seven years. MORE»

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