George Gould, head of Gould Holdings, will join the board of the AXA-owned Spicers Portfolio Management, following its takeover of Gould Wealth Management (GWM) – the financial planning group formerly known as Vestar and before that Northplan.

Eosaver, the KiwiSaver scheme owned by Australian firm Eo Financial Services, appears likely to be the first provider to exit the market.

AXA Global Investors (AXA GI) has picked emerging market equities and global bonds as the only short-term bright spots in an otherwise bleak world outlook.

Both shareholders remain happy with the ANZ/ING wealth management joint venture, according to Paul Bedbrook, regional head ING Asia-Pacific, despite the brands “taking a hit” from the furore over the Diversified Yield Fund (DYF) and Regular Income Fund (RIF).

The Institute of Financial Advisers (IFA) has recorded a net surplus of $3,625 in the year to June, 30, 2008, a dramatic improvement on the $140,821 loss in the previous year.

Brook Asset Management has lost its local equities mandate with the New Zealand Superannuation Fund (NZS).

A new dealer group is on the verge of formation that is understood to have attracted attention from many of the advisory firms currently associated with ING.

The Medical Assurance Society (MAS) has sacked ING as investment manager of its KiwiSaver and superannuation funds with Goldman Sachs tipped to pick up the $180 million mandate.

The Inland Revenue Department (IRD) has given risk advisers a deadline of May 31 to register for GST for income earned on non-life products or face possible penalties.

Kiwibank will open its new 'Wealth' financial planning division this March with five advisers already signed up with the organisation.

Unite has signed up “hundreds” of its 28,000 members to the Huljich KiwiSaver scheme, according to the union chief, Matt McCarten.

Asteron will close its flagship $300 million superannuation fund to new members on March 15, citing the rise of KiwiSaver as a major contributor to the decision.

ING has delayed a unitholder meeting originally scheduled to be held before March 31 to determine the fate of its two major collateralised debt obligation (CDO) funds.

ING has delayed a unitholder meeting originally scheduled to be held before March 31 to determine the fate of its two major collateralised debt obligation (CDO) funds.

AXA has been looking at forming an alliance with Gould Wealth Management for the distribution of its products and would like to take the relationship further.

Health insurance coverage in New Zealand increased in 2008 despite the growing impact of the global recession, according to new figures released by the Health Funds Association (HFANZ) this week.