[The Wrap] Three things we learnt from the FMA Value for Money report
Here are three things we learnt from the Financial Markets Authority Value for Money report. While there is some good stuff in the report there are also things the industry should be worried about.
I’ve read a lot of reports in my decades covering financial services, and the latest tome from the FMA on Value for Money is unique. Largely because of the way it is written.
Clearly the author(s) think they know more than fund managers – even though their experience as money managers is not disclosed.
To refute arguments with phrases like “this is nonsense” (used twice) isn’t ...MORE»
Fund managers silent on FMA’s hard-hitting fees and commissions reportFriday, May 20th, 8:28AM 1 comment
Fund managers were yesterday ducking for cover when asked for on-the-record comment on a scathing FMA report, released on Wednesday, about fees and commissions charged to investors in KiwiSaver and other managed fund schemes. MORE» |
[WATCH] Dealing with drawdownsThursday, May 19th, 9:48AM 1 comment
Investors may be worrying about their current returns, but even if you had the best possible portfolio it is impossible to avoid drawdowns. MORE» |
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Ethical Investment conference and awards details
Mindful Money is planning to run its annual ethical investment conference and awards on June 28. More details here. MORE »
FMA ramps up opposition to trail commissions
The Financial Markets Authority dishes out bouquets and brickbats to funds managers in a new report - but mainly brickbats.
The regulator has run a pilot programme trialling its so called "value for money" guidelines with 14 managed investment schemes (MIS).
The participants were a mix of volunteers and co-opted and covered KiwiSaver providers, non-KiwiSaver funds, passive and active managers and banks and non-banks (but who took part in the pilot is undisclosed).
A number of themes are reported by the regulator ...MORE»
Are your clients happy?Wednesday, May 18th, 11:57AM 2 comments
I would postulate that many of your current clients are not happy. But that isn't necessarily due to your actions or inactions. MORE» |
Conduct bill into new phaseWednesday, May 18th, 7:15AM 8 comments
The much-criticised Financial Markets (Conduct of Institutions) Amendment Bill, or COFI, took another leap forward in parliament yesterday, passing its second reading and going on to consideration by the Committee of the Whole House next week. MORE» |
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