Archive - 2010
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December 2010
02 Dec 2010 Study may reveal reason for lack of life insurance
02 Dec 2010 ANZ loses market share in home loans
02 Dec 2010 Housing confidence down, investment property ‘less attractive’
01 Dec 2010 Fisher & Paykel Finance sees securitisation revival
01 Dec 2010 The first AFAs announced
01 Dec 2010 Everything you need to know - the financial adviser regulatory regime
01 Dec 2010 Tower to combine units, reach out to adviser groups
01 Dec 2010 Sole advisers already registered can get refunds
01 Dec 2010 TSB shaved 3yr rate
November 2010
30 Nov 2010 Disciplinary committee established for AFAs
30 Nov 2010 HSBC's home loan pricing strategy grows book
30 Nov 2010 Banking Ombudsman welcomes new members
30 Nov 2010 Deputy banking ombudsman appointed
30 Nov 2010 Tower appoints new investment managers
30 Nov 2010 New Southern Cross board appointment
30 Nov 2010 Kiwibank's growth momentum slows
30 Nov 2010 AMP aims at banks once AXA deal done
30 Nov 2010 Housing consents continue to fall
30 Nov 2010 Removal of gift duty still unclear
29 Nov 2010 Fisher nets FNZC KiwiSaver Fund
29 Nov 2010 Paul Mersi leaving PwC
29 Nov 2010 AXA Global Investors appoints head of Investment Strategy.
29 Nov 2010 AXA, AMP sign 'binding terms' over sale of Australasian units
29 Nov 2010 Allied Farmers ‘shocked’ at Hanover activity
29 Nov 2010 SFO launches Hanover investigation
29 Nov 2010 Rates Update: Equitable puts focus back on NBDTs
29 Nov 2010 Equitable euthanised
29 Nov 2010 News Round Up
27 Nov 2010 Land investment product definition drafted
26 Nov 2010 The A banks cut
26 Nov 2010 Hanover calls in lawyers on Allied
26 Nov 2010 Fifth Hubbard report released
26 Nov 2010 Finance stars in Fisher & Paykel results
26 Nov 2010 Heartland bank a big tick closer
26 Nov 2010 For former accountant, crime adds up to 18 months
26 Nov 2010 A new suitor for AXA
26 Nov 2010 New rules for fund management fee disclosure revealed
25 Nov 2010 Kiwibank made little difference to mortgage market growth: Tripe
25 Nov 2010 NZF loses a BDM
25 Nov 2010 Newpark in strategic partnership with Macquarie
25 Nov 2010 Heartland bank to be a niche player
24 Nov 2010 Heartland bank proposal highlights NBDT challenges
24 Nov 2010 Harbour appoints head of fixed income team
24 Nov 2010 Take a breath – registration deadline is months away
23 Nov 2010 Has regulation halved the value of your business?
23 Nov 2010 TJ Singh leaves FundSource
23 Nov 2010 OnePath on track with awards
23 Nov 2010 SBS cut two-year rates as well
23 Nov 2010 Challenges for Heartland bank down track
23 Nov 2010 Property gauges not positive
22 Nov 2010 OPI Pacific debenture holders no clearer about payment
22 Nov 2010 5 reasons why the real estate market can't stay down
22 Nov 2010 Rates Round Up:
22 Nov 2010 RaboDirect outs ASB’s 90-day leadership
22 Nov 2010 Wanted: 100,000 additional rental properties for Auckland
22 Nov 2010 Harcourts picks up a pulse in market
21 Nov 2010 ETITO offers financial incentive to advisers
21 Nov 2010 Huljich not the only one in the gun
19 Nov 2010 ASB's mortgage book shrinks for a second successive quarter
19 Nov 2010 FundSource Conference 2010 update
19 Nov 2010 Flurry of cuts to two-year rates
19 Nov 2010 Consider fixing two years now
19 Nov 2010 PIS/BIG/Minerva roadshow
19 Nov 2010 FundSource Conference
19 Nov 2010 Kiwibank cuts two-year rate
19 Nov 2010 Commercial property returns move into upswing
18 Nov 2010 Fidelity life appoints CFO
18 Nov 2010 Huljich faces criminal charges
18 Nov 2010 PIS/BIG/Minerva roadshow
18 Nov 2010 AXA advisers may struggle in wake of takeover
17 Nov 2010 Proposed legislation to restrict Australian bank interest rates
17 Nov 2010 Proposed legislation to restrict bank interest rates in Aussie
17 Nov 2010 PIS/BIG/Minerva roadshow
17 Nov 2010 OnePath to the bank door
17 Nov 2010 Ginger group bursts onto the scene
17 Nov 2010 Early Marac voting running about 90% in favour of merger
17 Nov 2010 TOWER sales quadruple
17 Nov 2010 PIS/BIG/Minerva roadshow
17 Nov 2010 Tyndall sale out of left field: Morningstar
16 Nov 2010 Banking Ombudsman reports 18% rise in mortgage finance complaints
16 Nov 2010 Tyndall Investment Management sold
16 Nov 2010 Controlled demolition topples South Canterbury
16 Nov 2010 Controlled demolition topples South Canterbury
16 Nov 2010 PIS/BIG/Minerva roadshow
15 Nov 2010 AMP makes renewed offer for AXA Asia Pacific
15 Nov 2010 Rates Round Up: Banks nudge each other in short-term deposit rates
15 Nov 2010 PIS/BIG/Minerva roadshow
15 Nov 2010 News Round Up
12 Nov 2010 Guardian Trust appoints managing director
12 Nov 2010 BNZ out alone
12 Nov 2010 Bank disclosure down, non-bank disclosure up
12 Nov 2010 From regulation spotlight to floodlight
11 Nov 2010 Newpark Conference - Staying ahead of the game
11 Nov 2010 Newpark Conference – Staying ahead of the game
11 Nov 2010 Finally a change
11 Nov 2010 Consideration for sole traders to register once
11 Nov 2010 No spring in property markets step
10 Nov 2010 ‘Bumpy’ ride for KiwiSavers may not be over
10 Nov 2010 Debenture funding for property sector ‘dead’
10 Nov 2010 Sovereign applying to be a QFE
Latest News
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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.
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?
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