tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Friday, August 14th, 7:08PM

News

rss
Latest Headlines

Weekly Wrap: Spicing it up

The story which has tickled my fancy this week is Bluestone's efforts to grab control of Geneva Finance's assets. I know it is not a story which has major impact on advisers as few would have had any of their clients' money with Geneva.

Thursday, April 24th 2008, 4:26PM


It's fascinating because Geneva has done a good job in getting through its difficulties (and Monday is D-Day when debenture holders vote on its future). Bluestone adds spice, as on the face of things its offer looks quite attractive. (My Mum always said the secret of a good meal was looks and presentation – doesn't matter what it tastes like. Not sure it's the same here. I want to know the flavour and texture).
More spice is added as Bluestone has pulled back from its specialist lending in New Zealand; management recently took over the business and its focus is now on the home equity release market.

This week we have a further update on what is happening with adviser regulation. Commerce Minister Lianne Dalziel says public anxiety in the wake of continuous financial product failures has pressured the government to amend the Financial Advisers Bill.

Sticking with this theme is news of the Institute of Financial Advisers which has called elections for a new president and board. It is interesting that very few risk advisers have put their names forward.

On two of our other websites we have reports on investor confidence. The key points are that people are losing confidence in rental property as a place for good returns and that term deposits are on the up.

This morning we have had the Reserve Bank saying it is keeping its official cash rate the same at 8.25%. The market perceived Bollard's comments as a softening in the Reserve Bank.

During the week we have seen plenty of rises to mortgage rates with ANZ, BNZ and National Bank increasing four and five-year rates. In addition to that many AMS-funded non-bank lenders pushed up mid-term rates. Full details here.

Lombard says that although its finance company has collapsed its mortgage businesses, Tasman and United, continue to trade at acceptable levels in a very tough market.

Good Returns
is beefing up its Insurance News section to cater for risk advisers. This week we have a couple of items. One is our first ever Comment piece, looking at what Asteron is up to. We also have a report on Asteron's recent roadshow and AXA's strong group risk sales.

If you would like to get our insurance-focused email newsletter click here.

Have a great weekend.



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

« KPMG: Longer term deposits the way to goSovereign takes regulation bull by the horns »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • a2: could the milk be starting to turn?
    “Great Fundemental look.I guess in the ASX50 . as long as Aussies still love buying the Dip..its no worries Graeme Adams...”
    21 hours ago by Graeme33
  • It starts with governance
    “Hi David and thanks for your words also. I did read the FMA stuff before the post and also in my first response mention...”
    23 hours ago by gavin austin adviser business compliance
  • AMP reports profit drop amid 'solid' result
    “Sadly, AMP is becoming less and less relevant. Apart from this tiny blip of positive cash inflow, they've been bleeding clients...”
    23 hours ago by Contrarian
  • It starts with governance
    “Good words Gavin - might also mention the FMA publication - https://www.fma.govt.nz/compliance/guidance-library/corporate-governance-in-new-zealand-principles-and-guidelines/...”
    23 hours ago by dcwhyte
  • It starts with governance
    “adviser1 - go talk to Partners Life. they have a great tool to help with this sort of stuff. ...”
    1 day ago by Tash
Subscribe Now

Weekly Wrap

Previous News

MORE NEWS»

Most Commented On
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 3.15 3.25 3.39
ANZ Special - 2.55 2.69 2.79
ASB Bank 4.45 2.55 2.69 2.79
Bluestone 3.49 3.49 3.49 3.49
BNZ - Classic - 2.55 2.69 2.79
BNZ - Mortgage One 5.15 - - -
BNZ - Rapid Repay 4.60 - - -
BNZ - Std, FlyBuys 4.55 3.15 3.29 3.39
BNZ - TotalMoney 4.55 - - -
CFML Loans 5.50 - - -
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 3.35 3.85 -
Heartland 3.95 2.89 2.97 3.39
Heartland Bank - Online - - - -
Heretaunga Building Society 4.99 3.85 3.95 -
HSBC Premier 4.49 2.45 2.60 2.65
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 3.69 2.55 2.65 2.79
Kainga Ora 4.43 ▼2.93 ▼3.07 ▼3.24
Kiwibank 3.40 3.30 3.54 3.54
Kiwibank - Offset 3.40 - - -
Kiwibank Special 3.40 2.55 2.79 2.79
Liberty 5.69 - - -
Nelson Building Society 4.95 3.45 3.49 -
Pepper Essential 4.79 - - -
Resimac 3.39 ▼3.35 2.99 3.35
SBS Bank 4.54 3.05 3.19 3.25
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 2.55 2.69 2.75
The Co-operative Bank - Owner Occ 4.40 2.55 2.69 2.79
The Co-operative Bank - Standard 4.40 3.05 3.19 3.29
TSB Bank 5.34 3.35 3.49 3.79
TSB Special 4.54 2.55 2.69 2.99
Wairarapa Building Society 4.99 ▼3.55 ▼3.49 -
Westpac 4.59 4.15 4.09 4.49
Westpac - Offset 4.59 - - -
Westpac Special - 2.55 2.69 2.79
Median 4.55 3.05 3.13 3.12

Last updated: 14 August 2020 1:06pm

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com