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Vertical fund businesses – a broken model?

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?

Tuesday, September 1st, 1:30PM

In this commentary we look at implications of the vertical model.  Does capturing revenue at every step of the value chain mean there is excessive “ticket clipping”?  What about conflicts of interest between the manager and investors?  Can investors end up owning product that is second best?

Vertical integration – it’s on the FMA’s radar

In its annual “Investigations and Enforcement – Key Themes” paper, the FMA highlights “conflicted conduct” as a core risk for markets and investors ...MORE»

Appetite for annuities

Tuesday, September 1st, 6:01AM  1 comment

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.

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AML deadline looms

Advisers who are reporting entities under the Anti-Money Laundering Act have until midnight to complete their annual return.

Monday, August 31st, 6:00AM

Advisers are drawn into the AML rules when they deal in category one products.

They must have a written risk assessment, and a regularly-audited AML/CFT programme.

Not complying with the requirements can result in penalties including fines up to $200,000 for an individual.

Eight hundred reporting entities filed annual reports to the FMA last year.

Advisers were last year allowed to use “best estimates” for their first AML returns, for questions where they had not kept information ...MORE»

McGuffie date set

Sunday, August 30th, 8:13PM

Napier insurance broker David McGuffie now will not face court until November.

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Two advisers investigated

Friday, August 28th, 12:47PM  1 comment

FMA began investigations into two potential referrals to the Financial Advisers Disciplinary Committee in the past year.

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Kiwibank plans digital future

Friday, August 28th, 10:39AM

Kiwibank says its focus for the future is transforming into a digital business, with fewer branches and digitally-enabled sales supported by staff. MORE»

Insurance Centre Sponsored by: 

Today’s consumer can be hard work

Monday, August 31st, 8:27AM

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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»

People and Events Sponsored by: 

MDRT chair replaced

Tuesday, September 1st, 6:00AM

Warren Stephens is stepping down as New Zealand’s Million Dollar Round Table (MDRT) chair. MORE»

Deposit Rates Sponsored by: 

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   

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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