Mike Pero mortgage advisers are the first in New Zealand to be able to electronically lodge loan applications directly with a major trading bank.

BNZ’s re-entry into the mortgage adviser space after a 12-year absence has started well.

Axing of the $1000 kickstart payment for KiwiSaver has been a headache for providers.

Sovereign is giving away free insurance to its Facebook followers, in a campaign it says it designed to address the issue of underinsurance.

Westpac has finally made changes to its low-equity margin that it charges borrowers with deposits of less than 20%.

Non-bank lender RESIMAC has taken a market leading position with its variable rate and also made other changes across the card. Full details here.

Getting to Know this week features Barry Read who is, in a way, an adviser to advisers. Or some may say, someone who likes to make a splash.

SBS’s funds management business is the third organisation to be granted a DIMS licence and it plans to offer its service to independent financial advisers.

AMP Capital has turned down Morningstar’s invitation to be part of its latest NZ equities manager review.

Fidelity Life chief executive Milton Jennings says there is a churn problem and if New Zealand follows Australia many good advisers will suffer. 

The Financial Services Council has replaced former PM Jenny Shipley as its chair.

Three new members have been appointed to the board of the FMA.