Tower has sold its financial planning business Goldridge to the firm’s 12 founding principals, and management which includes chief executive Bernie Long.

Rotorua

Finance Minister tells the Savings Summit that the NZ Superannuation Fund is a relatively cheap way to provide universal retirement income.

Wellington

ABN Amro launches a CDO-backed fixed interest fund in New Zealand before Australia as New Zealand is a more sophisticated debt market.

Property hot, Managed funds not, Style police, Just call me Russell, CFS buys up.

Tower has launched a 'best practice' guide for advisers, which it wants to be an industry leader.

Napier

High yield funds using collateralised debt obligations (CDO) are becoming the latest “fad” in the market. Macquarie has launched one yesterday and ABN Amro Craigs are due to announce one on Friday.

A Wizard Home Loans company has got into trouble with the Commerce Commission over its advertising to the Asian community.