[Weekly Wrap] Responding to the changes

Two of the bigger stories this week have been the continuing fallout over the Huljich KiwiSaver funds and reaction to the Capital Markets Development taskforce (CMD).

Friday, February 26th 2010, 2:28PM

The government officially responded to the CMD late last week. Since then we have talked to various key industry players about the changes suggested to the funds management and advisory markets. It seems much of what has been proposed fits into the 'nice idea, but how would it work?' school of thought.

Also, in this Blog, I wonder if this proposed tinkering will really change the investment habits of New Zealanders?

Today on Good Returns we publish a comprehensive list of KiwiSaver fund performance up to December 31. You can view the list here

It's been a quiet week on the regulation front (unless we have missed something). But we did talk to the Society of Independent Advisers (SiFA) about where it fits into the regime. It seems SiFA may look for a new name - suggestions here please!

People news has been big this week. It is understood AIA will announce who is taking over as chief executive later today. Also during the week there has been an announcement of the new general manager at Adviserlink and a new managing director at Mercer. Details in People.

The People story which has created the most interest though is Sue Tierney's resignation from the NZMBA board.

There has been a flurry of credit ratings for finance companies in the past week. With new rules coming into force next week, most companies need a rating to continue to offer investments to the public. Also the level of rating determines whether a company can apply for the new government guarantee scheme. You can read what S&P said about NZF, Broadland, Geneva and Vision in Depositrates.co.nz. We will also publish a full table of ratings on the site later today.

Insurance news has an update on Southern Cross's plans to add critical illness cover to its product range and we talk to AMP about its different approach to expected premium price hikes.

While some companies have encouraged advisers to sell level term policies, AMP has taken a different approach.

In Practice management Eric Papp looks at how advisers can connect with Generation Y.

Situations vacant
TOWER Health & Life offers a career opportunity for an experienced business development manager, and SHARE NZ is on the lookout for a group systems manager.

Looking to fill a role? You can post a Job listing here.

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