[Weekly Wrap] Pass the parcel

Yesterday we sent one of our reporters along to observe the IFA Council meeting for a number of reasons. It was a historic occasion – the first election of a president. We aim to report on important events in the industry and it was a good way to build relationships with the IFA.

Although we have been invited to council meetings previously – yesterday our reporter was banned from attending.

That is a bit sad really. But I am heartened to see that the new president Lyn McMorran has talked about restoring lines of communications and being "open and available". Here at Good Returns and ASSET we welcome her goals. Our phones aren't off the hook!

What's happening at Equity? Equity is an advisory firm based in Auckland which was owned by Dorchester until last Friday. A week ago it announced that the business was sold to former Spicers adviser, Stephen Rogers.

Then, early this week, it was announced that a subsidiary of Viking had bought it, leaving Rogers with a handsome profit for a couple of days ownership. (Who says it's hard for advisers to make money these days!)