Archive - 2010
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April 2010
21 Apr 2010 Sovereign takes regulation bull by the horns
21 Apr 2010 Sovereign paying for advisers to study
21 Apr 2010 Reserve dispute resolution scheme wants to be "independent"
21 Apr 2010 2010 SovNet Conference
21 Apr 2010 CPI Inflation
21 Apr 2010 The Investment Store Roadshow
20 Apr 2010 Inflation pressure starts sapping strength of emerging equity markets
20 Apr 2010 Markets start betting against low short-term interest rates
20 Apr 2010 ETITO registration and booking system launched
20 Apr 2010 GMI wholesale chief defects back to Trade Me
20 Apr 2010 NZ 1st-qtr inflation accelerated less than expected
20 Apr 2010 Business Update 2010: Free FSPR seminars from Companies Office
20 Apr 2010 The Investment Store Roadshow
20 Apr 2010 ACCC shoots down NAB bid for AXA
20 Apr 2010 2010 worse for NZ defaults than 2009: S&P
20 Apr 2010 Brash says transparency is on the way for Huljich
19 Apr 2010 Do Brokers Cost More?
19 Apr 2010 CPI key ahead of the Reserve Bank’s OCR review
19 Apr 2010 Huljich scheme stung by new conditions
19 Apr 2010 NZF ramps up long-term deposit rates
19 Apr 2010 11th Annual One-Stop Update for Accountants in th Public Sector
19 Apr 2010 Rates round-up
19 Apr 2010 Property round-up
19 Apr 2010 News round-up
16 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
16 Apr 2010 Think about fixing at a two-year rate soon
16 Apr 2010 Nuplex director resigns as Securities Commissioner
16 Apr 2010 Think about fixing at a two-year rate soon
16 Apr 2010 House sales still in soft patch
16 Apr 2010 REINZ residential highlights – March 2010
16 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
16 Apr 2010 Advisers need to put aside a day a week NOW
16 Apr 2010 Reset rate market discounts, corporate bonds probably past peak
16 Apr 2010 Commerce Commission to sit on ING decision for another month
15 Apr 2010 Confidence in regulation helping businesses to grow
15 Apr 2010 Asteron puts KiwiSaver scheme on notice
15 Apr 2010 Super fund loses top strategist
15 Apr 2010 SBS makes cuts twice
15 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
15 Apr 2010 Home loan approvals take a dive
15 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
15 Apr 2010 South Canterbury Finance guarantee comes in nick of time
15 Apr 2010 ETITO confident training demands can be met
14 Apr 2010 Complaints to REAA pouring in
14 Apr 2010 TNP signs up with X-Plan
14 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
14 Apr 2010 Former Justice Ministers prosecuted over Lombard offer documents
14 Apr 2010 Dorchester launches SimpleLife
14 Apr 2010 Draft Code consultation meetings in full swing
13 Apr 2010 Huljich re-launches non-KiwiSaver funds
13 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
13 Apr 2010 New additions to the Macquarie Private Wealth team
13 Apr 2010 NZ dollar follows Australian dollar lower on weaker home loans
13 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
13 Apr 2010 SCF first-half loss nudges $200 million
13 Apr 2010 Adviser registration pushed out to July
12 Apr 2010 North Shore suburbs booming
12 Apr 2010 No moves to fix
12 Apr 2010 South Canterbury's fluid statements show greater impairments
12 Apr 2010 Depsosit takers in hibernation
12 Apr 2010 Rates round-up
12 Apr 2010 News round-up
12 Apr 2010 Property market to stay flat while uncertainties remain
12 Apr 2010 QV regional snapshot - March 2010
12 Apr 2010 Property round-up
10 Apr 2010 ING Life Major Medical Cover: Why you should recommend it to your clie
09 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
09 Apr 2010 New board appointments at Planet
09 Apr 2010 AXA Global Investors boost wholesale team
09 Apr 2010 Code Committee consultation of the Draft Code of Professional Conduct
09 Apr 2010 SBS nudge rates down
09 Apr 2010 S&P expects more finance companies will collapse
09 Apr 2010 Mystery bidder makes low-ball offer for Strategic investors
08 Apr 2010 Something Old, Something New
08 Apr 2010 HSBC slashes rates
08 Apr 2010 Auckland central: Money in metropolis
08 Apr 2010 ETITO releases assessment pricing for advisers
08 Apr 2010 AIA launches new business products
08 Apr 2010 12-months of PIE's
08 Apr 2010 Financial adviser legislation threatens NZ’s reputation: Chapman Tripp
08 Apr 2010 HSBC lowers 6-month rate below 5%
08 Apr 2010 Regulation of advisers already increasing confidence
08 Apr 2010 Hawk coy on Cynotech’s future
07 Apr 2010 HSBC slashes rates and launches campaign
07 Apr 2010 Auckland house sales pick up in March
07 Apr 2010 Kiwi vs Oz
07 Apr 2010 QSBO like the working man’s pancake
07 Apr 2010 Australian interest rates rise to their widest gap ever with NZ
07 Apr 2010 Code Committee meeting
07 Apr 2010 KiwiSaver fees too high: Actuary
07 Apr 2010 Long-serving adviser thumbs nose at authorisation
07 Apr 2010 Dorchester recapitalisation runs behind schedule
06 Apr 2010 Guardian Trust appoints new Head of Distribution
06 Apr 2010 Treasury says tax system out of kilter
06 Apr 2010 Director resigns from Smartshares
06 Apr 2010 Banks shying away
06 Apr 2010 News Round Up
06 Apr 2010 Rates round up
06 Apr 2010 Property round-up
05 Apr 2010 Prudential says it plans to retain AIA Australia
Latest News
Flood tide for Harbour
Flood tide for Harbour
3 min read
Advisers hope AI widens market
Advisers hope AI widens market
2 min read
Koura reports another loss
Koura reports another loss
1 min read
Can AI pick the best KiwiSaver provider?
Can AI pick the best KiwiSaver provider?
4 min read
Latest Comments
FE Investments in receivership
Fei , trustees still hold large of money not yet refund fully.
1 week 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.
2 weeks 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.
3 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?
3 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.
3 weeks ago P Urbani