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[GRTV] Richard James reflects on the past 10 years at NZ Funds

Thursday 9th of August 2018

When Richard James took over the helm of NZ Funds Management 10 years ago, just as the Global Financial Crisis was happening, things weren't well.  While markets crashing were one issue, to deal with so too were some of the earlier business decisions.

As James says in his interview with GRTV; "When I took over it would be fair to say that some of the decisions we'd made in the preceding decade hadn't worked out as we would have liked or our clients would have liked."

That lead to a deep reflection on previous decisions, fronting up to clients and consequently transitioning the business from a product-based investment management firm to one which is  now an integrated wealth management business.

"It's quite a different business (now)," he says.

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Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
23 hours ago Steve Wright
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Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
1 day ago Backstage
FMA outlines its latest expectations for advisers
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3 days ago Jon-Paul Hale
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To correct errors in my previous post: "policies, templates, and controls" should read "policies, processes, systems and controls", and "is more conductive" should read "is more conducive".
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