[Weekly Wrap] Where are the new advisers coming from?
One of the issues which is likely to hold back the growth of the advisory profession is the dearth of young advisers coming on board.
Friday, September 28th 2012, 11:55AM
I know this is a little bit of a contentious issue. Russell Hutchinson wrote this piece a while ago asking the question. However some have told me about the number of new advisers they have brought on board recently.
Clearly there is work happening here as there are many events for new advisers listed in our diary.
But I also hear, regularly, that firms are struggling to find AFAs. It seems there just aren't enough to meet the demand. Where new AFAs come from is a question which, to me, appears unanswered.
With that in mind it is interesting to see this piece commenting on the state of recruitment in financial services.
The other, somewhat related story this week is the move by Newpark to do away with its business development managers. Apparently they don't deliver what risk advisers want - more leads.
Another debate simmering away is around CPD courses and credits. See what the FMA thinks about the issue here.
This week also marks the start of Good Returns' new Investment Centre newsletter. At this stage it is a monthly newsletter which goes to investment advisers and offers market updates, informed investment comment and links to videos.
If you would like to join this list then you can do so here
Some of the key investment-related stories this week address the question about what is the appropriate hedging strategy in the current environment, and news from Standard and Poor's that it has cut its GDP growth forecasts for most Asian countries - including China.
Last week we highlighted Morningstar's KiwiSaver fund tax ratio. There has been lots of comments on this new measure and Morningstar has provided some answers to comments made. See what Chris Douglas and others are saying here.
No wrap up of this week's news would be complete without mentioning the end of the National Bank and its Black Horse. It's not unexpected but the timing is challenging as we are clearly entering a new Spring home loan rate campaign from the banks. They will be emboldened by the ANZ move and will even more aggressive in trying to pinch NBNZ customers.
A couple of useful stories on what we see happening here
In Insurance News there are lots of stories; Sovereign and Partners Life are vying for a top award; Partners Life and Konnect now have a shareholder in common and Pinnacle Life looks for more capital.
In People have some new jobs listed; Grosvenor nabs someone from Goldridge and
You can read Philip's blog here: http://www.goodreturns.co.nz/blog/
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