| Log In Subscribe for $0.99/week
0
0 Comment
Save Story
Investments

ASSET - Doing the distribution reshuffle

Monday 9th of June 2008
There are several features in ASSET this month, including the ability for advisers to earn CPD credits. To do this all you have to do is read the selected articles and then answer a set of questions online at assetmagazine.co.nz

Features this month include:

Special Report: Responsible investing gains new momentum
There's a new name for investing responsibly and it seems there's also a new wave of interest in these sorts of funds. The term ethical investing, or socially responsible investing (SRI), appears to be declining and is being replaced with a simpler, less loaded term - responsible investing (RI).

Profile: How Newpark leapt off the scale
Newpark Financial Services is a big player in the insurance distribution game. The network's founder, Darren Gannon, tells David Chaplin how he made the team of advisers a force to be reckoned with.

Insurance: Conference confirms the LBA way
More than half the 150-odd members of the Life Brokers Association (LBA) turned up in Nelson last month for the group's annual conference for the usual dose of professional upgrades, challenging thoughts and intense networking.

MFS Moratorium: Put up or shut up
Last month investors in the barely-breathing company formerly known as MFS Pacific Finance voted to put it on life support - hoping for a miracle recovery rather than a relatively painless, quick death. David Chaplin studies the case notes.

Practice Management
ASSET has a strong practice management section with articles designed to help advisers grow their businesses.

This month we have:
How to stay in control with advice in the driver's seat
Rotorua-based firm RMS Software is pushing needs analysis to the maximum with its latest offering.

Don't be a Possum - Why advisers should get on (or off) the road
These are undoubtedly tough times for financial advisers up and down NZ but, according to Mike Moore, it is also and era of opportunity and growth for those committed to the long-haul.

Columns
ASSET brings you some great columnists each month. PAA chief executive Dave McMillan always has interesting ideas for advisers; economist Donal Curtin puts the mundane economic matters into words everyone understands; AMP's Anthony Edmonds delves into the tax files, and Russell Hutchinson provides an insight into issues impacting on advisers' businesses.

  • Professional Advisers Association: How to accentuate the positive
  • Hutchinson: Battle of the no-brainers
  • Economy: Cyclical impulses behind the Big Bang Budget
  • Tax files: The 'house that Cullen built' needs finishing

Our book review this month is
A Bull in China by Jim Rogers $40.95

ASSET also contains the latest fund performance data from FundSource.

To get your own copy of ASSET, either call Amy on 0800-345675, or you can subscribe online here.
Comments (0)
Comments to GoodReturns.co.nz go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved.
Next Article
Insync: Market concentration a myth
Insync: Market concentration a myth
3 min read
Active or Passive? How about the best of both worlds
Active or Passive? How about the best of both worlds
5 min read
Latest News
The run of play is towards more and more underwriting, and not just at the traditional new business stage
The run of play is towards more and more underwriting, and not just at the traditional new business stage
3 min read
Value of index tracking seen in the numbers, says Kernel
Value of index tracking seen in the numbers, says Kernel
3 min read
NZ sharemarket starts week up 0.6%
NZ sharemarket starts week up 0.6%
4 min read
Can Games Teach Financial Literacy?
Can Games Teach Financial Literacy?
4 min read
Investments
More Read
Active or Passive? How about the best of both worlds
Active or Passive? How about the best of both worlds
5 min read
A tale of two villages – steady SUM and a RYM reckoning
A tale of two villages – steady SUM and a RYM reckoning
8 min read
The results are in
The results are in
13 min read
A bit of volatility
A bit of volatility
4 min read
Latest Comments
New customers locked out of ASB’s pre-approvals
As much as I disapprove of the ASB stance, I totally understand it, ESPECIALLY as the ComCom expect us to put an application to 4-5 banks, and not just the one we believe to suit the client the best. By demanding this, we would be tying the banks up with 4-5 times the applications necessary to secure a settlement. Banks would know that only 20-25% of applications are going to make it through to settlement. This shotgun approach is why banks are overloaded.
1 month ago Andy Phillipson
New customers locked out of ASB’s pre-approvals
This is pure BS from the major banks. In front of ComCom earlier in the year they denied any policy of channel inequality yet there clearly is from some (at board level) both in turnaround times and cashbacks for example. They need to staff up, sort their antiquated IT and give Advisers the respect they deserve. New Zealand borrowers are voting with their feet and using Advisers more and more. Are some banks starting their pushback? One as done it before so no surprise there.
2 months ago Jeff Royle
New customers locked out of ASB’s pre-approvals
As a financial adviser, business owner and ex-banker/home lender in NZ & Australia with almost 20 years experience I can tell you that this is very concerning for several reasons - first one being that as bank staff you still get paid regardless of whether you put the approval thru, lazy/incompetent/time poor bankers are often declining loans rather than taking the time to push a difficult deal thru as they get paid either way, as a financial adviser who doesn't get paid unless the deal settles we are more committed to securing an approval which is why more volume now comes thru the broker channels. This feels like it's the banks way of reducing costs by not having to pay brokerage to advisers when bank lenders doing nothing should be sitting on the broker overflow lines. This directly affects small businesses and is another example of banks playing God & redirecting profit margins back to their own coffers - there is no valid excuse for branch lenders doing nothing to not be sitting on these overflow lines. It makes a mockery of giving the choice back to the clients who are already typically having poor banking experiences when dealing direct with bank staff.l and in no way supports small businesses already doing it tough.
2 months ago Natasha Viliamu
New customers locked out of ASB’s pre-approvals
Another major bank today has announced no pre approvals via Advisers for under 80% LVR. That's at least 3 of them. All applications whether direct or through Advisers should be given the same priority and go through the same assessment process. Banks don't appear to have invested (enough) in staff or technology and given how much money they make, it is unacceptable. Lets hope it gets sorted soon!
2 months ago Craig Pope
New customers locked out of ASB’s pre-approvals
Sorry I don’t believe ASB are overrun with applications as we are traditional in a slow market so I think this” high volume “ excuse is rubbish, ASB will still post a massive profit due margins being so high but they can’t hire extra staff?? This is a disgrace! for consumers that choose to go through an independent mortgage adviser ASB are turning them away, but an ASB branch can write that deal no problem? , what happened to offering choice to the consumer? And being competitive? Are Comcom silent on this? Are the dealer groups /master FAP’s who have a monopoly over mortgage advisers’ access to bank mortgage lending silent on this? Why do we pay dealer groups /Master FAPs thousands in fees and costs if they can’t or don’t want to even back the people that pay their wages. All mortgage advisers want is an even playing field no more no less. How would ASB feel if all mortgage advisers in NZ stopped sending business to them for a few months?
2 months ago Valkyrie Vulcan