Macquarie Private Wealth has appointed Colin Beckermann, Tony Kember and Rupert Lister as investment advisers in its Auckland office.

PGG Wrightson Finance turned its back on long-term deposits that were covered by the government’s retail deposit guarantee, while other lenders focused on trying to attract six-month month.

New Zealand now has a dozen fund managers with at least a billion dollars under management, according to the latest FundSource report.

[UPDATED with S&P release] Standard & Poor's has lowered South Canterbury's rating to CC and put it on negative creditwatch citing a material weakening of the company's liquidity and cash position. SCF though says it is making good progress with its recapitalisation.

[UPDATED] Allied Nationwide Finance has been put in receivership after being forced to halt new fund raising, becoming the seventh firm poised to make a call on the government retail deposit guarantee.

The Code Committee has today submitted a revised draft Code to the Commissioner for Financial Advisers for approval.

A lingering gap in the protection of business owners has recently been filled, as part of a larger plan to bring much-needed simplicity to insurance in New Zealand. Darrin Franks, AIA New Zealand's Head of Distribution and Marketing, explains.

In the interview below, TOWER Investments CEO Sam Stubbs discusses how people need to "look through" present concerns about the stability of global economic recovery and start planning now for the type of chastened economic climate they are likely to be living in when normal conditions resume.