Applicants need to show "a keen interest in and understanding of the financial advisory market and a desire to grow and develop it."
Applications close on December 31.
Very clever, Mr Bond
CDO investments continue to catch media attention. The most recent round of coverage includes NBR's Shoeshine column. YOu can read the story HERE
Select-an-income
NZ Funds has launched its Dividend Yield Fund which invests in New Zealand shares and is designed to provide investors with a stable income stream from dividends and the opportunity to grow their investment through share price appreciation over the medium to long term.
The fund holds 15 or more New Zealand and Australian shares picked on their sustainable dividend yield and it can invest up to 30% in capital notes or similar instruments.
Key features of the fund are that it is an Australian Unit Trust, and investors can select their level of income.
Sharebrokers are now advisers
One of the changes announced by the NZX last week is the idea that NZX Brokers are to be renamed NZX Advisors.
The NZX is proposing this changes as brokers are expanding their role and are becoming "much less focused on driving commissions and more focused on their overall client relationships and providing advice," the exchange says.
"NZX recognises the invaluable role brokers play in giving New Zealand investors investment advice, as opposed to simply brokering trades."
It is also proposing to introduce direct market access to the market.
"Most exchanges around the world utilise straight through processing to increase efficiency and liquidity in their markets. DMA will allow independent software vendors access to the NZX Faster trading system, which they can then offer to their clients. This opens access to additional participants in the market and is expected to help increase both efficiency and liquidity.
Direct access will not only allow additional third party access in New Zealand, but will also allow brokers in other markets to trade directly into this market.
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