Consumers have lost trust in financial services
Financial services sector ‘has lost the trust of the Joe Bloggs consumer’, says KiwiSaver boss as FSC releases investor research
Hard on the heels of the FMA’s 130-page report on consumer attitudes to the financial services sector, the Financial Services Council (FSC) yesterday released a survey about New Zealanders’ views and trends around investment.
Among the FSC’s key findings:
four out of five respondents have investments and most (88%) go online to manage their finances;
a growing number (18.6%) ...MORE»
CoFI a journey of frustration: CEOTuesday, August 9th, 7:51AM 2 comments
FMA sets out timetable for COFI compliance, praises industry for ‘incredibly constructive’ discussions MORE» |
New push to get advisers fully licensedMonday, August 8th, 2:13PM 4 comments
A new attempt to encourage advisers to apply for full licensing starts next week. MORE» |
Inflation really weighs on returns
Given the barrage of headlines citing decades of high inflation, investors are asking how best to invest in an inflationary environment? In order to assess the current environment, it’s worth distinguishing nominal versus real rates using some examples close to home for everyone. Before you yawn and click off, here are a couple of interesting stats.
By Michael Kenealy, Senior Equities Analyst, Mint Asset Management
Over the 25 years pre-Covid19, average hourly earnings rose by 3.2%, while consumer prices eroded that by 1.9% on average each year. So, in real terms hourly earnings have grown at a compound rate of 1.2% (Dec 1994 – Dec 2019). Whilst it’s pretty hard to imagine or recall a floating mortgage interest rate of 10% and term ...MORE»
What advisers can take from the FMA’s first big consumer surveyFriday, August 5th, 8:32AM
Nearly 40% of New Zealanders say they cannot afford financial advice. Only 18% use a financial adviser and 42% say they are not considering taking up any new financial products or services in the next 12 months. MORE» |
What consumers think of financial advisersThursday, August 4th, 9:05AM 4 comments
How consumers interact with the financial services sector: the FMA reveals all in a mammoth report MORE» |
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News Bites
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Jarden to build online investing platform
Sharebroker Jarden and Co is merging its direct business with Hatch. MORE»
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GoodReturns TV
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[GRTV] It's time to rethink responsible investing
Kōura Wealth chief executive Rupert Carlyon says responsible investing is good but it's time to rethink some aspects of how it is done. MORE»
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Investments
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Inflation really weighs on returns
Given the barrage of headlines citing decades of high inflation, investors are asking how best to invest in an inflationary environment? In order to assess the current environment, it’s worth distinguishing nominal versus real rates using some examples close to home for everyone. Before you yawn and click off, here are a couple of interesting stats. MORE»
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Cigna admits making error
An error discovered by Cigna has seen it pinged by the regulator who says this is a case about treating customers fairly. MORE»
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TMM Online
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SHARE loses its boss
The chief executive of SHARE and Newpark has resigned. MORE»
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Mint CIO takes leave
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A cluster of ‘modest’ accounts: what KiwiSaver balances really look like
In what’s believed to be an industry first, the NZ Society of Actuaries has produced a report that analyses account-level data for a large segment of the KiwiSaver market. MORE»
