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Last Article Uploaded: Thursday, September 3rd, 11:47AM
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AFA market loses more than 100 advisers in a year

UPDATED There are concerns that the number of new AFAs being authorised by the Financial Markets Authority is not keeping up with the number who are terminating their authorisation.

Thursday, September 3rd, 6:00AM  6 comments

In June last year, there were about 1900 AFAs operating in New Zealand.

Over the past 12 months, 91 new advisers have been authorised and 122 have terminated their authorisations. There are now 1842 AFAs.

Terminations include people who have let their FSPR registrations slide or voluntarily removed themselves and terminated their licenses.

No applications have been declined.

Institute of Financial Advisers chief executive Fred Dodds said it was concerning ...MORE»

Salt eyes advisers

Wednesday, September 2nd, 6:00AM

Salt Funds Management is to make a play for more adviser relationships.

MORE»

Vertical fund businesses – a broken model?

Tuesday, September 1st, 1:30PM  6 comments

Vertical fund managers control the entire investment “ecosystem” - from manufacturing fund product through to advising the end investor.  This means the fund manager can be a “one stop shop” providing the (supposedly) perfect client solution, isolated from any alternatives.  It makes great business sense – but does it make sense for investors?

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Hubbard investors' capital returned

Investors in the Hubbard Management Fund have had all their capital returned. 

Tuesday, September 1st, 10:00AM

Five years after being appointed, the Grant Thornton Statutory Managers of the Hubbard Management Fund have resolved all matters and have returned all investor capital along with a small surplus pool as directed by the High Court.

The total of the investor statements prepared by Allan Hubbard indicated the investors were owed $82.8 million.

The Grant Thornton Statutory Managers were appointed in June 2010 and their assessment was that the Fund had a value of $47 ...MORE»

Appetite for annuities

Tuesday, September 1st, 6:01AM  3 comments

New research shows many New Zealanders nearing retirement age are interested in an annuity-type product that will give them a guaranteed income.

MORE»

Nikko picks up mandate

Monday, August 31st, 9:06PM

Nikko Asset Management New Zealand has won a new mandate to manage private health insurer nib New Zealand’s investment funds, of over $100 million.

MORE»

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Guilty verdict in mortgage fraud case

Thursday, September 3rd, 10:46AM

Vulnerable first-home buyers were the target of a woman who has been found guilty of mortgage fraud worth millions in the Auckland District Court. MORE»

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Partners puts off listing

Thursday, September 3rd, 6:00AM  1 comment

Partners Life has decided to delay its plans to list on the sharemarket. MORE»

Regulation Sponsored by: 

Submission slams FMA

Friday, August 7th, 6:00AM  11 comments

SiFA has entered a searing submission in response to the Financial Advisers Act review issues paper. MORE»

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Perpetual Guardian makes appointments

Thursday, September 3rd, 11:45AM

Perpetual Guardian has made two new senior appointments. MORE»

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Sky City issues bonds

Wednesday, September 2nd, 4:53PM

Sky City entertainment grow is to sell $125 million of seven-year bonds, paying 4.65% a year. MORE»

KiwiSaver   

FMA urges KiwiSaver check-up

Sunday, August 30th, 8:20PM

FMA wants New Zealanders to give their KiwiSaver accounts an online health check as part of Money Week. MORE»

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