[The Wrap] Things returning to normal
It feels as though things are starting to return to some normality - other than a few bombshell announcements. For the past couple of weeks my Wrap has failed to see the light of day; partly as I was not particularly happy with them and where they were going. Today is different.
Looking back at this week a debate on roboadvice has restarted (and nice to see the comments on this article).
The FMA is in the headlines after sanctioning an adviser. It seems the adviser, who was an AFA, did something dumb; sending an email to all his clients telling them to shift to conservative funds.
The FMA has chosen not to name this adviser, essentially because they co-operated ...MORE»
NZ shares outperform weaker global marketsFriday, May 29th, 6:33PM
New Zealand shares edged higher today as positive earnings counterbalanced a weak lead from Wall Street as investors eyed escalating US-China tensions. MORE» |
Digital advice the mass market solution: CarlyonFriday, May 29th, 6:39AM 3 comments
All KiwiSaver providers should be required to have a roboadvice offering, kōura founder Rupert Carlyon says. MORE» |
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FMA warns adviser over advice to go conservative
The Financial Markets Authority (FMA) has issued a formal warning to an AFA who made recommendations to clients that they urgently move their investments to low risk funds in the wake of Covid-19.
The adviser failed to clarify that the advice may not be suitable for all clients.
The AFA sent a bulk email in March 2020 to clients urgently recommending they move their savings in KiwiSaver and other funds to less risky options.
The FMA was alerted to the communication after receiving a complaint from one of the adviser’s clients.
FMA head of supervision James Greig said the advice was ...MORE»
OUT NOW: ASSET May issueThursday, May 28th, 10:00AM 1 comment
Here is some weekend reading for you; the latest issue of ASSET Magazine. Find out what's inside it here. MORE» |
Guide to market recoveriesThursday, May 28th, 6:00AM
The shape of a market recovery isn’t clear, but history provides some context. MORE» |
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Financial advice saving retirement futures: Adviser
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