Conservative attitude a bigger problem than fees: McLachlan
New Zealand's fund management industry should do more to help shake Kiwis out of their too-conservative approach to investing, one KiwiSaver manager suggests.
Bruce McLachlan, chief executive of Fisher Funds, said his firm's modelling showed the optimal strategy for a mid-50s investor was to have 60% growth assets at 55 and more than 40% at 60. Even at 90, they would have 20% in growth investments.
"Our analysis suggests a much slower reduction in growth assets is the preferred KiwiSaver strategy," he said. "Because New Zealand started KiwiSaver so recently many fund managers are using lifestage models from overseas data, where retirement savings have been in place for much longer and at higher levels ...MORE»
Dodds: Regulators 'attack on integrity'Thursday, May 24th, 6:00AM 1 comment
Recent reports questioning financial adviser behaviour are an attack on the reputation and integrity of the industry, the head of the Institute of Financial Advisers says. MORE» |
Minister 'encourages' providers to change soft commission structuresWednesday, May 23rd, 6:00AM 9 comments
Commerce Minister Kris Faafoi says it’s disappointing to hear that the practice of offering trips as sales incentives to financial advisers is still widespread. MORE» |
Advisers follow Slater to new EDR
Adviser groups are switching their dispute resolution schemes, following industry stalwart Trevor Slater.
Slater was general manager of FSCL for five years until 2015, but joined Financial Dispute Resolution Service as client service manager in 2017.
He said, since January, 100 advisers had joined the scheme.
"In the last year we have seen an overall 15% increase in member numbers with a total of 1777 as at 30 April."
Kepa and My Solutions have shifted to FDR.
Nicola Smee, of My Solutions, said she was loyal to Slater because of the support and encouragement he offered with things such as training ...MORE»
Schemes query disclosure requirementMonday, May 21st, 6:00AM 3 comments
Financial Disputes Resolution Service client director Trevor Slater says he’s willing to make a stand over the requirement that external disputes resolution schemes increase their reporting to regulators. MORE» |
KiwiSaver rules for MPs - even if their scheme doesn't exist any moreFriday, May 18th, 6:00AM
MPs including the Commerce Minister claim to be part of a scheme that was wound up five years ago. Good Returns checks out the latest register of pecuniary interests to find out where MPs have their money. MORE» |
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Conservative attitude a bigger problem than fees: McLachlan
New Zealand's fund management industry should do more to help shake Kiwis out of their too-conservative approach to investing, one KiwiSaver manager suggests. MORE»
