Shuttered FAP owes around $8 million
The liquidator of deregistered insurance advice firm Foundation Advice Ltd, estimates it owes around $8 million.
Auckland-based Foundation Advice, whose website is still live, offered advice on life and health insurance.
On 26 Oct it was put into liquidation by the Auckland High Court following an application by Inland Revenue for unpaid GST. The Official Assignee was appointed as liquidator.
In the first liquidator’s report filed on the Companies Office website, the Official Assignee says Foundation ...MORE»
Most of the NZX 50 now links top exec pay to ESGWednesday, December 6th, 7:00AM
NZ Inc is getting better at carbon and ESG reporting but has yet to reduce greenhouse gas emissions, water consumption and the amount of waste sent to landfill. MORE» |
Forsyth Barr buys Hobson Wealth to create $30b in funds under adviceTuesday, December 5th, 3:24PM
Forsyth Barr is buying Hobson Wealth for an undisclosed sum, as GoodReturns reported several weeks ago was likely. MORE» |
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Generate commits NZD55 million to private equity
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Financial Advice NZ wants new govt to give advisers a breather
The main message from Financial Advice New Zealand (FANZ) to the new government is essentially “give us time to breathe.”
Interim FANZ chief executive Tony Dench says he's pleased that the National, Act and NZ First coalition government “isn't rushing into regulatory changes.”
“What I'm really looking for is to see a considered and deliberate approach and constructive engagement with the financial sector to make sure that any revisions work well for suppliers, financial advisers and consumers,” ...MORE»
Sustainable investment grows down underFriday, December 1st, 4:00PM
New Zealand, Australia and Japan were the only countries where sustainable investment grew as a proportion of total managed assets in 2022, a new report says. MORE» |
Lessons Charlie Munger taught businessesFriday, December 1st, 10:32AM
Charlie Munger's death just a month shy of his 100th birthday is being mourned the world over and not just by Warren Buffett's Berkshire Hathaway where he was chief financial officer or in his home town of Omaha, Nebraska. MORE» |
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Auckland FAP has its licence cancelled
The Financial Markets Authority (FMA) has cancelled the financial advice provider (FAP) licence of Foundation Advice Limited. MORE»
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[GRTV] Cracking the mass affluent market
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Lindsay learns the benefits and pitfalls of the product he sold for 52 years the hard way
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Haakie to move on
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Sharesies KiwiSaver, including self-select feature, goes to market
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