SBS-owned Funds Administration NZ (FANZ) is splitting its vertically integrated business into two strands; wealth management and advice and product.

ASB has joined its major rivals and bumped its fixed one year rate to more than 4%, and advisers predict sub 4% rates are unlikely to return any time soon.

BNZ is set to refund more than 10,000 mortgage customers after making a series of errors with documentation.

Massey University will start offering CLU papers again from next year – provided there is enough interest.

Fidelity Life has launched a new campaign which helps Kiwis get access to insurance protection for a better price.

Financial Advice NZ won’t apply for a licence under the new advice regime but will look for ways to help its members into the new regime.

Advisers with client money in active funds may have more work to do during periods of sharemarket volatility than those whose clients pursue passive strategies, NZX head of funds management Hugh Stevens says.

Ratings agency Standard and Poors has put OnePath on CreditWatch with negative
implications because of its new parent company’s corporate actions.

Calastone, the global fund transaction network, is shifting its global network to blockchain in May 2019 to improve the way managed funds are bought, sold and reported.

The former head of AMP NZ has gone off to retirement in the last leadership changes at AMP.

The Financial Services Council (FSC) has bounced back into health in the past year.

Insurance advisers will soon no longer be able to access offshore incentives from any major life insurer in this country.

The pension age must rise and be linked to health expectancy, the New Zealand Initiative has argued in a new report.

The fee-for-service debate is a “red herring” for New Zealand mortgage advisers, who should focus instead on customer outcomes, according to Financial Advice NZ CEO Katrina Shanks.

The Reserve Bank’s LVR restrictions have reduced household debt and risky lending, but it is too soon to rule out another surge in the Auckland market, ANZ economists have warned.