Weekly Wrap: Advisers have to take some responsibility
News has been a little thin on the ground this week, but one of the more interesting stories was ING Life's managing director Naomi Ballantyne commenting that advisers have to take some responsibility for the underinsurance of New Zealanders.
Friday, September 30th 2005, 9:38AM
This story has prompted some emails which I will Blog on later.Advisers must take responsibility for New Zealanders’ underinsurance
New Zealanders are seriously underinsured – and the adviser industry has to take its share of the blame says ING Life’s managing director Naomi Ballantyne. [more]
Talking of Blogs I recommend you read the latest item talking about trade associations promoting themselves.
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Nothing
wrong with a bit of self-promotion |
We haven’t had a story for a while where we talked to an international manager about their views on the markets, so it was good to be able to speak to the boys from Boston-based MFS during the week.
A
stock picker's view of the world
Many investors and commentators are focused on current events,
such as the price of oil and hurricanes in the United States,
and wondering what it means for their investments. [more]
Economic
news has been prominent this week with current account and
GDP numbers. We tend to run many of these stories in the Mortgage
News section of the site. These stories then
generate commentary on what is happening in the Home Loan
market.
The big news is that economists are now predicting two more
rate raises by Christmas.
During the past week or so there have been many changes to
interest rates and they are mainly heading skywards.
Good Returns has a comprehensive table of rates which
also shows which lenders have moved in the past week and which
way they have gone. I would recommend you click
here to see what has been happening.
Home
loan rates set to keep rising
The prospect of cheaper homes loans isn't materialising and
in some cases falls look more distant than they appeared a
month ago. [more]
Reserve
Bank to hike rates in October: ANZ
ANZ Bank’s economists have changed their view on the
outlook for interest rates and now expect the Reserve Bank
will hike rates when it next reviews them in late October.
[more]
Higher
floating rates now a possibility
Not only has the prospect of lower floating rates receded
well into 2006, but now the market is beginning to suggest
further tightening. [more]
Next week look out for a story about a financial planning firm, run by a high profile person, changing hands.
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New
fund: GLOBAL Series 1People
It seems people have been sitting still this week –
there are hardly any changes. If you have made a new appointment
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and you get publicity for fr*ee.
Managed funds specialist lawyer, Tracey Cross, has been promoted to partner by the trans-Tasman commercial law firm, Phillips Fox. Ann Butler has retired as chief financial officer at Dominion Finance Holdings.
SuperTalk
The NZ Superannuation Fund is releasing its annual report
this week. Rob Hosking has had a look at it and produced an
interesting story on its investment approach. This is well
worth a read.
NZ
Super Fund warns of slowdown
The New Zealand Superannuation Fund is warning of below-par
returns over the next few years. [more]
Diary
Diary items are not usually included in the Weekly Wrap, but
this one from the CFA Society is worth marking down.
CFA
Society Forecast Dinner, November 10, Auckland
Features
Global
pressures increasingly dominant on the financial services
agenda
Financial services organisations are becoming increasingly
global in their reach and ambitions. With the growth in scale
of global operations comes just not the promise of reward,
but a step change in the sophistication of ensuing risks and
challenges. [more]
Financial
Planner of the Year Awards 2005
Entries are still open!
We have extended the dates to receive entries so be sure you've
downloaded
the entry form and send your entry in to us. There's cash
prizes up for grabs, so you can attend an overseas
conference of your choice - so what are you waiting for....get
writing!
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