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Weekly Wrap: People on the move

One of the things we strive to do at Good Returns is provide readers with the freshest news in the financial services industry.

Friday, June 15th 2007, 3:41PM

Recent Weekly Wrap’s had news of changes at TOWER with its New Zealand shares team and also the retirement of Marshall Garrett from planning group Broadbase.

This week we can reveal that Brook Asset Management is about to get a new managing director.

Marshall’s retirement from Broadbase also potentially signals changes at the group – more on this in today’s Blog.

Also amongst the planning industry it has been interesting to watch the on-going consolidation. The latest developments are the further grouping of the Grosvenor group.

Tranzact, the ASX-listed entity which is almost 60%-owned by Grosvenor, has merged the two advisory practices it bought in April with another two Rutherford Rede businesses.

The finance company and deposit taking sector continues to generate plenty of news. A fascinating story is how Instant Finance dodged a bullet fired directly at it. The story is well worth a read as are the comments in Phil’s Blog.

Blog

Drive by shootings in the industry
Yesterday’s story about a compliant against Instant Finance’s advertising raises a couple of issues. [more]

Listed property trusts have been a good yielding defensive asset to hold in portfolios over the years. With the introduction of PIE tax changes the sector is morphing. We have one view on this from Goldman Sachs JB Were. They suggest the sector will be more volatile and trusts with developments are ones which can add shareholder value.

On the People front we record the interesting changes at the IFA Board, and report on a new business development manager at the Auckland Mortgage Trust. Added to this we have news of a bit of role swapping at Fidelity Life and a new investment appointment at GS JBWere.

Also in Insurance News we have a useful piece on what the hot jobs are in the insurance sector. This piece also gives you an idea how much underwriters and business development managers are getting paid. The other insurance news story of note is changes to Tower Health and Life’s application process.

KiwiSaver is dominating news. If you are interested in KiwiSaver then you need to get your hands on this week’s issue of ASSET. It includes a full report on how advisers are planning to provide advice in this area, plus has results from our exclusive survey of advisers.

Also in the June ASSET is a comprehensive survey of home equity release schemes.

To get your hands on ASSET either call 0800-345675 or send an email to mags@assetmagazine.co.nz

 


 

Get your own copy of the Weekly Wrap delivered directly to your inbox each Friday. Click here to join the mailing list.

 

« Budget drives advisers to KiwiSaver, survey findsSovereign takes regulation bull by the horns »

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Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 4.55 2.55 2.69 2.79
ANZ 4.44 2.89 3.25 3.39
ANZ Special - 2.29 2.69 2.79
ASB Bank 4.45 2.29 2.59 2.65
Bluestone 3.49 3.34 2.99 3.34
BNZ - Classic - 2.29 2.59 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 2.89 3.19 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 4.95 - - -
Lender Flt 1yr 2yr 3yr
China Construction Bank 4.49 4.70 4.80 4.95
China Construction Bank Special - 2.65 2.65 2.80
Credit Union Auckland 5.45 - - -
Credit Union Baywide 5.65 3.95 3.85 -
Credit Union South 5.65 3.95 3.85 -
First Credit Union Special 5.85 2.95 3.45 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online 2.50 1.99 2.35 2.45
Heretaunga Building Society 4.99 3.50 3.40 -
HSBC Premier 4.49 2.25 2.35 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - 1.99 - -
ICBC 3.69 2.25 2.35 2.65
Kainga Ora 4.43 2.79 3.04 3.13
Kainga Ora - First Home Buyer Special - 2.25 - -
Kiwibank 3.40 3.20 3.50 3.50
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.35 2.65 2.65
Liberty 5.69 - - -
Nelson Building Society 4.95 3.20 3.24 -
Pepper Essential 4.79 - - -
Resimac 3.39 3.35 2.99 3.35
Lender Flt 1yr 2yr 3yr
SBS Bank 4.54 2.79 2.79 3.15
SBS Bank Special - 2.29 2.29 2.65
Select Home Loans 3.49 3.34 2.99 3.34
The Co-operative Bank - First Home Special - 2.09 - -
The Co-operative Bank - Owner Occ 4.40 2.29 2.59 2.79
The Co-operative Bank - Standard 4.40 2.79 3.09 3.29
TSB Bank 5.34 3.09 3.29 3.45
TSB Special 4.54 2.29 2.49 2.65
Wairarapa Building Society 4.99 3.55 3.49 -
Westpac 4.59 3.09 3.29 3.39
Westpac - Offset 4.59 - - -
Lender Flt 1yr 2yr 3yr
Westpac Special - 2.29 2.69 2.79
Median 4.54 2.79 2.99 2.96

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