The Weekly Wrap sums up all the important news stories in the financial services industry.

New Zealanders are expecting to keep the money rolling in upon hitting their golden years, with a new quarterly survey finding most Kiwi investors plan to work well into their 60s.

Constant legislative changes to KiwiSaver are detracting from the original message behind the scheme of savings awareness and financial literacy.

Managed funds recorded a negative quarter in December across all sectors, with the exception of KiwiSaver.

Capital + Merchant Finance is shaping up to be one of the worst finance company collapses with the receivers saying investors are likely to get very little, if any of their money back.

Claire Matthews has been appointed leader of the Personal Financial Planning Diploma at Massy University.

Capital + Merchant Finance is shaping up to be one of the worst finance company collapses, with the receivers saying investors are likely to get very little, if any of their money back.

AIG Life is rolling out its new adviser remuneration package which includes loyalty benefits and takes it out of the commission wars.

AXA Global Investors, formerly Arcus Investment Management has made some responsibility changes from within its ranks, along with the name change (effective from today onwards).

Arcus rebrands as AXA; Leaky investments tribunal called for; Diplock joins global think tank

The Reserve Bank today reduced the official cash rate (OCR) from 5.0% to 3.5%.

ING has written to advisers saying that it can defend the decisions it has made over its distressed CDO-backed funds and that it will no longer pay advisers trial commissions on the funds.

CBS Canterbury has entered into the home loan battle offering a competitive one-year fixed rate.

Wrap platform FNZ has sold for close to $34 million in a management buyout/private equity deal revealed yesterday.

ANZ and ING in trouble over funds; Milford market outlook; Looking for honey in a bear market

ASB Bank is the latest to add cash PIES to its product offering and it has taken a different approach to other institutions.