Archive - 2002
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March 2002
01 Mar 2002 More tinkering around the edges
01 Mar 2002 Letter to Commerce Minister
01 Mar 2002 Securities Commission recommendations for advisers
01 Mar 2002 BNZ's double combo
February 2002
28 Feb 2002 Cullen fudges over super fund
28 Feb 2002 Major tax changes looming
27 Feb 2002 Succession planning: Selling to managers
27 Feb 2002 Mortgages up $422 million in January
27 Feb 2002 Markets hurt AMP's profit
27 Feb 2002 Manager changes get tick
26 Feb 2002 HFA opposes rating health insurers
26 Feb 2002 Tax treatment of super a disgrace
26 Feb 2002 Women in Super
26 Feb 2002 Housing consents rise but trend may have slowed
26 Feb 2002 Commission proposes significant changes
25 Feb 2002 Walker joins AMP
25 Feb 2002 Adviserlink Introduction to Financial Planning
25 Feb 2002 Absolute return allows greater flexibility
25 Feb 2002 News Round Up
22 Feb 2002 Govt to adopt key McLeod review idea
22 Feb 2002 Cullen to level tax playing field
22 Feb 2002 Govt to adopt key McLeod review idea
22 Feb 2002 S&P lowers SX's credit rating
22 Feb 2002 Lombard exits contributory mortgage business
22 Feb 2002 Estate agent to hook into mortgages
22 Feb 2002 Business opposes 65 at 65
21 Feb 2002 New opportunities under act
20 Feb 2002 AJ drops Fiduciary as sole manager
20 Feb 2002 SX must raise premiums
20 Feb 2002 Software package annoys advisers
20 Feb 2002 Two different types of hedge funds
20 Feb 2002 Changes at FundSource
19 Feb 2002 Housing market robust in January
19 Feb 2002 Walker sues AMP for $1m
19 Feb 2002 Poor markets end investors' holiday
18 Feb 2002 News Round Up
18 Feb 2002 FundSource Introduction to Financial Planning
18 Feb 2002 Kiwibank won't use mortgage brokers for now
18 Feb 2002 Tower launches new health contracts
18 Feb 2002 Growth assets strongly favoured
15 Feb 2002 Colonial buys NZ trust
14 Feb 2002 Liberty to launch in NZ after raising $A1 billion
14 Feb 2002 New head of brokers and alliances at AXA
14 Feb 2002 Armstrong Jones - Roadshow
14 Feb 2002 Improving terminal illness cover
14 Feb 2002 Managers careful not to be Enron'd
14 Feb 2002 Absolute return allows greater flexibility
13 Feb 2002 Mortgage rates likely to rise
13 Feb 2002 Armstrong Jones - Roadshow
13 Feb 2002 Mother of all stimulations excites panel
12 Feb 2002 Nats say cull the campaign
11 Feb 2002 FPIA Convention should go with a bang
11 Feb 2002 Valuing property under the new act
11 Feb 2002 Armstrong Jones - Roadshow
11 Feb 2002 Adviserlink Introduction to Financial Planning
11 Feb 2002 New executives for Perpetual Trust
11 Feb 2002 Broadbase Egmont grows
10 Feb 2002 National's U-turn a retrograde step
10 Feb 2002 News Round Up
08 Feb 2002 How to retire young and rich
08 Feb 2002 AMP welcomes commitment to encourage savings
08 Feb 2002 National's policy fine for big earners: Cullen
08 Feb 2002 Act welcomes National's announcement
08 Feb 2002 National to offer tax incentives for long-term savers
08 Feb 2002 ASB takes selective approach to Kiwibank
07 Feb 2002 Flows into OEICs slow
07 Feb 2002 Farrell quits Commission
07 Feb 2002 No rush to match Kiwibank expected
07 Feb 2002 Winter at Morningstar
07 Feb 2002 Flexibility and proven performance the key
07 Feb 2002 Charles J. Swindells - U.S. Ambassador to New Zealand
07 Feb 2002 RSA sizes up the health market
07 Feb 2002 Succession Planning: Networks
07 Feb 2002 RSA sizes up health market
06 Feb 2002 Tucker lays out 2002's hurdles
05 Feb 2002 A strange quarter
05 Feb 2002 One out of three
04 Feb 2002 Who gets what under the new laws
04 Feb 2002 Direct Home Loans sold to PTO
04 Feb 2002 Public Trust appoints manager
03 Feb 2002 News Round Up
01 Feb 2002 Mortgage borrowing rises
01 Feb 2002 Waltus still trying to refinance KPMG
01 Feb 2002 The will as an effective estate planning tool…but not your will
January 2002
31 Jan 2002 Private equity becomes more popular
31 Jan 2002 Letter: Super ball hoofed downfield
31 Jan 2002 Grosvenor nabs BNZ man
30 Jan 2002 SX boss Bowie resigns
30 Jan 2002 Commission outlines role of an adviser
30 Jan 2002 Opinion: Lenders’ profitability a factor
30 Jan 2002 Judges divided on SX decision
29 Jan 2002 Housing consents slowdown
29 Jan 2002 New strategist at BNZ
29 Jan 2002 Get focussed on the year ahead
28 Jan 2002 Economy: NZ economy likely to struggle
28 Jan 2002 Intl shares: Spectacular growth unlikely this year
28 Jan 2002 NZ shares: Upside Down Under?
28 Jan 2002 Bonds: Another Solid Return Expected
28 Jan 2002 Super: Political parties yet to show their superannuation hand
28 Jan 2002 Financial Planning: Competition about to go hyper
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Latest Comments
FE Investments in receivership
Fei , trustees still hold large of money not yet refund fully.
6 days ago Raymond Yang
Who is responsible for notifying policy changes?
There is no doubt the obligation is on the insurer who the contract is with. Clearly it would be prudent for an adviser to assist once given clear information by an insurer to assist with the communication but to extend this further. For an insurer to attempt to slide this onto an advisers plate is abdication. The adviser can not change the contract.
1 week ago Darryl Scott
FMA CEO on leave
At the risk of sounding like a broken record, the fundamental flaw in the legislation came about partly through the event that Murray mentions, and also through the negligence of the Select Committee in ignoring the single most cited recommendation in all the submissions (over 34% from memory) of drawing a distinction between product sales and financial advice. To add to their misdemeanour, the Committee then added a paragraph to the Bill confirming that recommendation of one product only constituted financial advice - or words to that effect. The inherent conflict of interest lies in an individual retained by a Class 4 licensee being required to adhere to a code of conduct that requires prioritisation of client interests. To expect a product sales person to subordinate their contractual obligation to their employer is unrealistic, unworkable, and unreasonable. To emphasise, I have no issue with a product provider marketing and selling their own products - but not behind the opaque veil of legislation intended to govern financial advice. If MBIE ever gets around to review FSLAA, Financial Advisers, FANZ, and all other interested stakeholders should mount a fully-funded intensive campaign to persuade our employees in Wellington to remove class 4 licensees from FSLAA, and replace their obligations within an amended CoFI Act.
2 weeks ago David Whyte
FMA CEO on leave
@Murray: The reps seemed to be acting on their personal interests rather than the interests of advisers. Conflict of interest, isn't it?
2 weeks ago w k
KiwiSaver funds shake off Middle East tension
In this recent presentation of mine https://www.knowrisk.co.nz I show that the average Balanced KiwiSaver fund has added approximately +0.43% over and above the gross average policy Benchmark's return's. However, the averge annual costs of -0.97% for Balanced funds have eroded that to be slighly below BMK after costs consistent with typical SPIVA studies. Note this cost number is for the 45 Balanced Funds used only - for all KiwiSaver Funds it is closer to -0.70% p.a. The presentation goes on to show that quite a bit of return is being left on the table by the one size fits all view of risk.
2 weeks ago P Urbani