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ISI starts CEO hunt; IFA picks a disputes resolution scheme.

Monday, September 20th 2010, 6:40AM

ISI to start advertising chief executive position
The Investment Savings and Insurance Association (ISI) has completed the research stage in its search for a new chief executive after the resignation of Vance Arkinstall in July.

Arkinstall stepped down after he and the other directors of failed financier Dominion Finance were accused by the Securities Commission of making false statements in the 2007 Dominion and North South Finance prospectuses and investment statements.

Arkinstall, who has headed up the ISI for the past 10 years, said the charges meant it wasn't appropriate for him to continue as chief executive.

ISI chairman Sean Carroll says a specialist talent acquisition firm Futurestep was engaged by the Association to help find a replacement and it has completed the research stage. 

He says during the next few weeks Futurestep will be approaching candidates of interest and seeking expressions of interest from the broader market via advertising. 

"The search process is going to be as comprehensive as possible to ensure the best candidate for this role is identified and recruited.

Carroll says it is a high profile position and a unique skill set is required.

IFA announces the ISO as preferred Dispute Resolution scheme
The Institute of Financial Advisers (IFA) has announced it is recommending the Insurance & Savings Ombudsman (ISO) Disputes Resolution Scheme as its preferred option for members.

IFA chief executive Peter Lee says the institute looked at a number of factors in making its decision.

"While no one Disputes Resolution Scheme was the best in all areas, our conclusion is that the ISO scheme overall best meets the needs and requirements of most of our members."

He says a key consideration was the total cost to members. He says the ISO is also  well-known and highly-regarded, and has a proven pedigree with over 15 years of experience in disputes resolution.

The institute has negotiated a special member-only discounted rate.

To help advisers make a decision the next issue of ASSET Magazine has a feature comparing what each scheme offers.

« Start thinking about product regulation: MayhewKiwiSaver mismatch a 'huge challenge' for advisers »

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Lender Flt 1yr 2yr 3yr
ANZ 5.19 4.05 3.95 4.49
ANZ Special - 3.55 3.45 3.99
ASB Bank 5.20 4.05 3.95 4.39
ASB Bank Special - 3.55 3.45 3.89
BNZ - Classic - 3.55 3.45 3.99
BNZ - Mortgage One 5.90 - - -
BNZ - Rapid Repay 5.35 - - -
BNZ - Std, FlyBuys 5.30 4.45 4.35 4.55
BNZ - TotalMoney 5.30 - - -
China Construction Bank 5.50 4.70 4.80 4.95
China Construction Bank Special - 3.19 3.19 3.19
Lender Flt 1yr 2yr 3yr
Credit Union Auckland 5.95 - - -
Credit Union Baywide 6.15 4.95 4.95 -
Credit Union North 6.45 - - -
Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 3.99 4.49 -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
Heretaunga Building Society 5.75 4.80 4.95 -
HSBC Premier 5.24 3.35 3.35 3.35
HSBC Premier LVR > 80% - - - -
Lender Flt 1yr 2yr 3yr
HSBC Special - - - -
ICBC 5.15 3.18 3.18 3.20
Kainga Ora 5.18 4.04 3.95 4.39
Kiwibank 5.80 ▼4.14 ▲4.30 4.64
Kiwibank - Capped - - - -
Kiwibank - Offset 5.15 - - -
Kiwibank Special - ▼3.39 ▲3.55 3.89
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 5.70 4.25 4.15 -
Pepper Money Near Prime 5.64 - 5.44 5.44
Lender Flt 1yr 2yr 3yr
Pepper Money Prime 5.18 - 4.98 4.98
Pepper Money Specialist 7.59 - 7.39 7.39
Resimac 4.50 4.86 3.89 3.94
RESIMAC Special - - - -
SBS Bank 5.29 4.85 5.05 5.49
SBS Bank Special - 3.55 3.39 3.89
Sovereign 5.30 4.15 4.29 4.55
Sovereign Special - 3.65 3.75 4.05
The Co-operative Bank - Owner Occ 5.15 3.49 3.59 3.89
The Co-operative Bank - Standard 5.15 3.99 4.09 4.39
TSB Bank 6.09 4.35 4.25 4.69
Lender Flt 1yr 2yr 3yr
TSB Special 5.29 3.55 3.45 3.89
Wairarapa Building Society 5.70 4.85 4.99 -
Westpac 5.34 4.15 4.09 4.49
Westpac - Offset 5.34 - - -
Westpac Special - 3.55 3.45 3.99
Median 5.34 4.04 4.09 4.39

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