Weekly Wrap: Your views on finance companies

There is plenty happening in this space at the moment, and lots of coverage. Most of the coverage is good, but we are starting to see some silly comments, such as comparing the collapses with the 1987 sharemarket crash and industry leaders calling advisers "clowns".

Here at Good Returns and depositrates.co.nz we have been trying to keep some good balance on the topic and provide sensible comments. Much of the commentary is running through Phil's Blog. I would encourage you to read it and if you like add to the discussions by using the comments link.

One of the good things to come from this sad event is an increasing level of disclosure from many of the companies. This is something which is helping advisers, but is also something which, I believe, should have been happening earlier.

Another initiative Good Returns is running is a survey to find out what advisers are thinking and doing about fixed interest investments. Please take the time to fill in this survey even if you don't use finance company debentures in portfolios.
The other good thing to come out of this series of events is work by the NZX and Securities Commission in flushing out information.

In the finance company news we have this week there are results from Hanover and South Canterbury Finance, and reaction to the Securities Commission probe into the sector.

How to avoid finance company chaos It seems like a bomb has gone off in the finance company sector and things are total chaos. Seems like Iraq. The reality is quite different.[more]