[The Wrap] What the heck is happening at the FMA?

[OPINION] It would be fair to say the Financial Markets Authority is a bit of a mess at the moment – well at the top level.

The Chairman’s gone and now the Chief Executive, Samantha Barrass has been put on leave around “cultural concerns” within the organisation. (Will she back before her term finishes in January? Wouldn’t bet on it).

There is no doubt there are good people at the regulator trying to do the right thing, but having this much turmoil can't be helping.

For a long time now we have ...MORE»

Michael Lang now controls more than 75% of NZ Funds Management Friday, July 31st, 6:12AM The mystery within New Zealand Funds Management’s accounts appears to have been resolved ahead of deadline with a company associated with chief executive Michael Lang taking a controlling interest in the company’s parent. MORE»

FMA CEO on leave Wednesday, July 29th, 7:04PM  3 comments The FMA has been thrown into further turmoil with its chief executive taking “a period of leave from today”. MORE»

Aurora KiwiSaver becomes Hive, adds third-party managers

Aurora KiwiSaver has been rebranded as the Hive KiwiSaver Scheme as part of a wider overhaul that brings new investment managers, funds and digital tools into the adviser-focused offering.

Hive chief executive Sharon Mackay says the change reflects its strategy to build an integrated, advice-led platform combining financial advisers, specialist investment managers and technology.

A key part of the revamp is the addition of three third-party investment managers – Harbour Asset Management, Munro Partners and Pie Funds – alongside incumbent manager Aurora Capital.

Independent ...MORE»

[GRTV] FMA puts AI advice and banks’ return to wealth management under spotlight Monday, July 27th, 8:37AM  2 comments Watch FMA Director of Deposit Taking, Insurance, and Advice Michael Hewes regulating AI-generated financial advice and why banks should consider getting back into the wealth market. MORE»

Sharesies' KiwiSaver still going for growth, reaches break-even on cash flow Friday, July 24th, 6:00AM Sharesies KiwiSaver offering was marginally cash-flow-positive in the year ended March but its general manager says the focus is still on growth and enhancing its products. MORE»

News Bites

Kernel goal: Wealth OS for all

Kernal Wealth opened its funky new Auckland HQ last week with bold plans for the future. MORE»

GoodReturns TV

[GRTV] FMA puts AI advice and banks’ return to wealth management under spotlight

Watch FMA Director of Deposit Taking, Insurance, and Advice Michael Hewes regulating AI-generated financial advice and why banks should consider getting back into the wealth market. MORE»

The Placebo Effect: Healthcare's Defensive Reputation Under the Microscope

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Are we doing right by our clients when it comes to TPD?

Katrina Church takes a different look at Total Permanent Disablement (TPD). MORE»

TMM Online

Pace of interest rate increases not clear cut

OCR increases are inevitable off the back of yesterday’s 4.1% inflation figure, but the pace of the hikes remains uncertain to a degree, Westpac says. MORE»

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Code Committee gets new chair

Angus Dale-Jones steps done as Chairman of the Code Committee after nine years in the role. MORE»

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Active managers slip down KiwiSaver tables

A number of active KiwiSaver providers have failed to fire in the past year, while passive management has come to the fore. MORE»