Christmas Greetings (and more)
Friday, December 24th 2010, 8:38AM
by Philip Macalister
Well the year is nearly over and what a year. Thinking back to this time 12 months ago I am sure none of use would have thought it would pan out as it has.
Regulation has been the overarching theme of the year with its many twists and turns. Its uncertainty and its distraction from the real business – helping clients.
The great recovery hasn’t happened in New Zealand. Businesses have found it tough and markets have been less than welcoming.
The international markets, too, have been a mess. I just need to mention names like Greece and Ireland to trigger groans.
Perhaps a bright spot has been in the life insurance world. This part of our industry has done well, especially in the months before tax changes to life products.
Mortgage broking has had it tough.
The year has ended with a finance company feeding frenzy of regulator activity. It seems the authorities are trying to do a bit of catch up in this area after sitting on their hands for years. Some of their activity, like freezing Mark Hotchin’s assets is quite unsettling. As is the media lynch mob who don’t seem to care about facts or fairness. (Or the real crooks of the finance company world).
What’s in store for next year? Who knows? And who would be prepared to make too many predictions?
No doubt the regulatory train will keep rolling along. There will be some interesting corporate activity and the groupings of advisers will continue to become greater centres of influence.
will be working hard to bring you the news. While it is the holidays the site will continue to be updated over the next couple of weeks.
From all the team at Good Returns
I would like to offer you a safe, happy and relaxing Christmas break.
You can read Philip's blog here: http://www.goodreturns.co.nz/blog/
Comments from our readers
Commenting is closed