FMA still waiting for first robo applications
Roboadvice is off to a slow start in New Zealand.
The Financial Markets Authority last week announced it was open to applications from providers who wanted to offer personalised financial advicer to consumers via rogbo platforms.
Liam Mason, its director of regulation, said: “The decision to allow providers to offer personalised digital advice gained wide support from the market during consultations last year, including from both small start-ups and large financial institutions ...MORE»
Nikko takes out top AwardThursday, March 1st, 6:10AM
Nikko Asset Management received the top award as Morningstar's New Zealand Fund Manager of the Year. MORE» |
Working group raises FSLAB worriesWednesday, February 28th, 6:00AM 6 comments
The working group developing a new code of conduct for financial advisers has suggested changes to the Financial Services Legislation Amendment Bill (FSLAB). MORE» |
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April launch planned for Pie Wealth
Pie Funds is to launch its own advice business - in part because the amount of money coming in via advisers has dwindled.
Chief executive Mike Taylor said the fund manager would launch an advice business, probably in April.
Two advisers have been hired and Taylor said the firm would consider what expansion in numbers happened from there.
"It's very complementary to what we do anyway."
He said Pie Funds' main competitors, Milford Asset Management and Fisher Funds, each had an advice offering.
"It's a natural revolution of the business ...MORE»
FSLAB: Still changes to be made, associations argueMonday, February 26th, 6:00AM 4 comments
Financial adviser associations say there’s a risk the Financial Services Legislation Amendment Bill is a step back for professionalisation of the industry. MORE» |
Getting to Know: Tim FairbrotherFriday, February 23rd, 10:30AM
Adviser believes luck often comes down to a lot of hard work. MORE» |
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News Bites
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FMA takes FSPR action
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GoodReturns TV
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Ralph Stewart's Lifetime group hits five
Ralph Stewart set up variable annuities business Lifetime five years ago. The business has evolved and become quite different to what was planned. MORE»
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Platforms' commission question
Platforms offering no advice receive the same insurance commission rates as financial advisers offering personalised guidance on insurance products. MORE»
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TMM Online
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Bluestone hails “extra firepower” after US takeover
Bluestone chief executive Campbell Smyth expects stronger funding after Asia-Pacific operation sold to Cerberus. MORE»
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Kerr Neilson steps back at Platinum
A new chief executive has been appointed for the Australian fund manager, MORE»
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'Information gap' harming KiwiSaver outcomes
KiwiSaver investors still lack the knowledge required to make good choices about the investments, ASB’s latest KiwiSaver survey shows. MORE»
