[The Wrap] Millennial investors, KiwiSaver and property investment
It was a surprise to see the Retirement Commissioner drop a press release suggesting KiwiSaver should be able to be used to buy investment property.
My first reaction was this is stupid. KiwiSaver is meant to be a locked-in scheme for people’s retirement.
But with a little more thought I’ve come around to thinking it’s not such a dumb idea.
A key part of my argument is that millennials have a very different approach to investing. (You’ll read more about this in our magazines, but one of the takeouts is that advisers wanting ...MORE»
Blue-chip stocks Meridian, A2 lead market lowerSaturday, October 19th, 8:15AM
New Zealand shares fell, led by blue-chip stocks such as Meridian Energy and A2 Milk Co, as weaker than expected Chinese growth weighed on Asian markets. MORE» |
Advisers welcome Aegis saleFriday, October 18th, 6:00AM 1 comment
Advisers are optimistic about the future for Aegis now that ASB has agreed to sell the platform to MMC. MORE» |
Advisers not dropping out, Financial Advice NZ says
Financial Advice NZ says most advisers plan to remain in the sector under the new licensing regime – and most will take their own licence.
A survey conducted by the association this week showed 80% of respondents had already determined how they would give financial advice under the new licensing regime.
Of those, 48% said their own firm was becoming a licensed financial advice provider (FAP), 21% said they intended to join a large licensed FAP – either a current aggregator or a dealer group – and 12% said their employer was ...MORE»
New advice fee model for KiwiSaverWednesday, October 16th, 6:00AM
Milford Asset Management has launched an innovative new way to pay advisers for giving advice on its popular KiwiSaver funds. MORE» |
Legislation overload 'could have unintended consequences'Tuesday, October 15th, 6:00AM
New rules of conduct for banks and insurers could be bad news for organisations already grappling with the looming implementation of the Financial Services Legislation Amendment Act, one law firm says. MORE» |
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News Bites
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FE Investments gets ratings boost on capital raise
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GoodReturns TV
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Time for changes to KiwiSaver
KiwiSaver has done well in its first 12 years, but David Boyle only gives it a score of 6.5 or 7 out of 10. In this interview with Good Returns TV he discusses changes he would like to see. MORE»
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BDMs put through level five to understand adviser experience
Asteron Life is putting all of its business development managers through the level five financial services qualification so they can better understand what the new requirements are for advisers. MORE»
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TMM Online
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Mortgage Lab and Kepa plan for new regime
The Mortgage Lab will be an authorised body underneath Kepa's financial advice provider licence under the new regulatory regime. MORE»
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Investment manager appointed at Midlands
Midlands Mortgage Trust has appointed an investment manager. MORE»
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FMA: Time to show what KiwiSaver members get for fees
KiwiSaver providers can expect pressure to show what value they're giving members, after an analysis prepared for the Financial Markets Authority showed they charge higher fees than comparable British funds. MORE»
