Hi

Another layer of the regulation rules became clear this week with news that under the new regime advisers will need Adviser Business Statements
Commissioner of Financial Advisers Annabel Cotton told advisers about the ABS’s (yes another acronym) at this week’s IFA Conference in Auckland.

One of the most contentious stories of the week was one run on television Tuesday night. The story is about how Sovereign denied a life insurance claim made by a man dying of prostate cancer. It’s a tragic story, but one which has some important lessons.
Read more about it in this Blog here and also read some of the comments made.

Our other life insurance story is around AIG ending its permanent term business at the end of next month.

Also we now have a new section in the site where advisers can get some of their burning questions answered. Dave McMillan, former CEO of the Professional Advises Association and now one of the leaders at The National Partnership has offered to answer questions on issues advisers have.
Ask Dr Dave here.

Amongst our investment news this week AMP Capital talked about its views on markets and how it is changing its asset allocation. Meanwhile there is talk that retail investors will get some access to a new infrastructure fund being set up to fund social infrastructure in the country.

While AMP Capital talked about markets, Reserve Bank governor Alan Bollard gave his views on the state of the New Zealand economy yesterday when he made the latest official cash rate announcement.

We have full coverage and reaction of the statement in the Mortgage Centre, plus some views on what it all means for home loan rates here.

We also have in Features this week your guide to the UK Pension Transfer business. The article explains how it works and spells out the issues advisers need to be aware of.

To wrap up the week IFA made10 awards to members who have done plenty for the institute and the industry. Last night it awarded Fellowships to five advisers and also made five Citation Awards.
The amount of time and effort these people have put into the advisory profession is amazing. Congratulations to you all.

Have a great weekend.
Philip

www.goodreturns.co.nz