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PAA: Meeting failure could hold up Financial Advice NZ

Wed, 22 Nov 2017 06:00:00 +1300

PAA members are being told it was "disheartening" that the association could not get quorum for its recent annual general meeting in Auckland - and they'll need to do better if the establishment of Financial Advice NZ is to happen smoothly.




FMA pushes net returns over fees debate

Tue, 21 Nov 2017 09:04:00 +1300

The FMA has made it clear that promoting KiwiSaver funds on low fees only is wrong.




Active managers go passive

Mon, 20 Nov 2017 06:00:00 +1300

Two people closely associated with active funds management have established a new ETF funds management business.




South Island tribe looks to add KiwiSaver scheme

Sun, 19 Nov 2017 06:00:00 +1300

Ngāi Tahu's successful savings scheme for its iwi is considering offering a white-label KiwiSaver scheme to its 24,000 members.

 

 




Roboadvice green light 'better late than never'

Fri, 17 Nov 2017 06:00:00 +1300

Work is progressing on the exemption that will allow personalised roboadvice, or digital advice, in New Zealand. But one law firm says it's a case of "better late than never".




FMA focus on financial advice

Thu, 16 Nov 2017 06:00:00 +1300

Financial advice is a key area of focus for the Financial Markets Authority, its chief executive Rob Everett told the Infinz conference.




Report, not court action, for Goldman Sachs

Wed, 15 Nov 2017 19:30:00 +1300

Trading by Goldman Sachs New Zealand might have been misleading but that will not be tested in court, the Financial Markets Authority says.




Economic outlook still positive: ASB

Wed, 15 Nov 2017 06:00:00 +1300

Investors are being told to expect less economic growth over the second-half of the year – but the slowdown should not last.




Advisers could do better by women: AMP

Mon, 13 Nov 2017 06:00:00 +1300

Financial advisers could do more to boost the confidence of women accessing their services, AMP Financial Services general manager of advice and sales Therese Singleton says.




The Wrap: Has FSC launched a pre-emptive strike on the new adviser association?

Fri, 10 Nov 2017 11:58:00 +1300

A question on our minds this week is this: Has the Financial Services Council (FSC) launched a pre-emptive strike on the new Financial Advice New Zealand association?




FMA: Financial services changing fast

Fri, 10 Nov 2017 06:00:00 +1300

Financial Markets Authority chief executive Rob Everett says it might seem to observers that the financial services sector does not listen to its customers.




Quality mark questions

Thu, 09 Nov 2017 06:00:00 +1300

A quality mark system is coming - but what will it mean, and how will it fit with the CFP designation?




Look to Asia for yield

Wed, 08 Nov 2017 06:38:00 +1300

Advisers are being encouraged to think of investments into Asia as being a useful income generating investment, rather than one for capital appreciation.




Target on advisers outside associations

Tue, 07 Nov 2017 06:00:00 +1300

Advisers who are not members of a professional association risk becoming disengaged or missing out on important information about the upcoming advice regulation overhaul, the Financial Services Council says.




The Wrap: Minister acknowledges small firms

Fri, 03 Nov 2017 14:00:00 +1300

A look back at a week in which the new Commerce Minister acknowledged concerns, and one insurer received a big boost.




Getting to Know: Janet Natta

Fri, 03 Nov 2017 11:00:00 +1300

Janet Natta wants more people to know that financial advisers are awesome.




Market wobbles 'signify need for active management'

Fri, 03 Nov 2017 06:00:00 +1300

Significant drops in price in a number of New Zealand equities this week are being held up as a sign it is a stockpicker's market.




Investors search for income

Thu, 02 Nov 2017 06:00:00 +1300

More investors are looking for products that produce income in retirement, as low interest rates persist.




Responsible investing missing the mark: White paper

Wed, 01 Nov 2017 06:01:00 +1300

New Zealand's responsible investment managers are too focused on exclusions, a new white paper says.




Pie Funds launches 'alternative' option

Wed, 01 Nov 2017 06:00:00 +1300

Pie Funds is launching a new fund today that is designed to make the most of market falls.




Faafoi: I'll listen to concerns

Tue, 31 Oct 2017 06:00:00 +1300

New Commerce and Consumer Affairs Minister Kris Faafoi says he's aware that small advice firms are worried they will lose out under the Financial Services Legislation Amendment Bill.




Getting to Know: Nigel Scott

Fri, 27 Oct 2017 13:41:00 +1300

Nigel Scott, head of advice and distribution at Hobson Wealth Partners, says he's had some investing expensive lessons.




The Wrap: Deadlines for changes clearer (maybe)

Fri, 27 Oct 2017 13:39:00 +1300

Since this is the Weekly Wrap we thought we'd try and wrap the week up, highlighting the key news stories and looking ahead to what's happening next week. Read on to see what's on the agenda.




Financial Advice New Zealand launch date set

Thu, 26 Oct 2017 06:00:00 +1300

Financial Advice New Zealand will administer a quality service mark for its adviser members as it works to boost public trust and confidence in the profession, it has been revealed.




Your new boss revealed

Wed, 25 Oct 2017 11:58:00 +1300

Labour has revealed who will take over as Commerce and Consumer Affairs Minister.




FSLAB could be slower

Tue, 24 Oct 2017 06:00:00 +1300

Progress of the Financial Services Legislation Amendment Bill may be slower under the new Labour-led government than it might have been under National.




Getting to Know: Jon-Paul Hale

Fri, 20 Oct 2017 11:00:00 +1300

Insurance adviser Jon-Paul Hale wants to see the industry working together much better.




Regulators collaborate on fintech

Fri, 20 Oct 2017 06:00:00 +1300

Confirmation of a “collaborative approach” to fintech between the Financial Markets Authority and its Australian counterpart, ASIC, is being described as good news for New Zealand financial service providers.




New code's wider scope helps advisers: Chairman

Thu, 19 Oct 2017 06:00:00 +1300

Authorised financial advisers will benefit from being part of an industry fully bound by a code of conduct, the chairman of the working group developing the new code says.




FMA fast-tracks roboadvice

Wed, 18 Oct 2017 06:00:00 +1300

Advisers can expect to see roboadvice in the New Zealand market next year, and the country’s banks and product providers are already developing their platforms.




Advice firms merge

Mon, 16 Oct 2017 07:40:00 +1300

One of Canterbury's longest standing financial advisory institutions is merging to become one of the largest independent financial advisory firm in NZ.




Getting to Know: Lyn McMorran

Fri, 13 Oct 2017 11:00:00 +1300

Lyn McMorran is a familiar face to many in the industry - an AFA, executive director of the Financial Services Federation and a former IFA president.  Here she admits her worst investment yet...




Kiwi investor experience improving: Morningstar

Thu, 12 Oct 2017 06:00:00 +1300

New Zealand has received its best ranking yet from Morningstar’s biennial survey of investor experience, but the study flagged concerns about vertically integrated organisations’ sales practices.




Ponzi scheme guilty plea

Wed, 11 Oct 2017 16:42:00 +1300

A Christchurch man who used his businesses to conduct a Ponzi scheme has pleaded guilty. It is believed investors lost more than $17.5 million.




Entity licensing 'boosts risk'

Wed, 11 Oct 2017 06:00:00 +1300

Entity licensing could increase the risk of undesirable behaviour from vertically integrated product providers, one commentator says.




Sharemarket success no easy ride

Tue, 10 Oct 2017 06:00:00 +1300

Inexperienced advisers might be tempted to use sharemarket gains as a way to score wins with clients – but are being told they might regret it.




'Adviser cull' could hit NZ

Sat, 07 Oct 2017 06:00:00 +1300

New Zealand financial adviser numbers could fall by up to 60 per cent over the next seven years, it has been predicted.




Getting to Know: Anand Srinivasan

Fri, 06 Oct 2017 11:00:00 +1300

Anand Srinivasan has been making waves since he gave up working for a provider to work for himself.




Ralph Stewart's Lifetime picks up former Tower business

Fri, 06 Oct 2017 06:00:00 +1300

Ralph Stewart's variable annuities business,  Lifetime Income, has acquired a book of policies from the old TOWER Insurance business.




FMA: Advisers can help clients avoid scams

Fri, 06 Oct 2017 05:59:00 +1300

Advisers have a key role to play in helping clients avoid scams, the Financial Markets Authority says.