Two heavyweights of the New Zealand financial industry have gone head to head in a debate at the IFA conference over whether investing direct or via managed funds is the better option.

AMP’s World Index Fund (WiNZ), previously one of the largest managed funds in New Zealand, is one step closer to closing after the NZX approved its delisting.

Jury trial for finance director; Receivership looms for Orange Finance; Z Energy sets interest rate

Financial advisers need to not only get used to volatility in markets but embrace it if their businesses are to prosper, a financial commentator says.

Fund managers want direction; not so super month for Super Fund; more delays in SFO case.

Authorised Financial Advisers have shown good ethics but need to work on their record-keeping and ensuring personalised advice is suitable for the client, the Financial Markets Authority says.

Leading the news this week, the Financial Markets Authority has made its much-anticipated report on the results of its monitoring of Authorised Financial Advisers.

Accuro chief executive Bruce Morrison is prepared for a cynical reaction from advisers to his call for government health insurance incentives for the elderly, but he says there’s no money in it for him or his company.

Pyne Gould subsidiary Perpetual has placed its Mortgage Fund into moratorium after news of an FMA investigation prompted a run on the fund.

The number of court cases involving financial advisers being sued by their clients is dropping, according to a prominent lawyer who has warned the development could “backfire” on advisers.

OnePath is keeping quiet on industry speculation that further changes to its executive and investment teams could be in the works.

This week saw the announcement of a mutual recognition agreement that will allow financial advisers to operate in both Australia and New Zealand; meanwhile, TNP announced a new share scheme and the IFA raised questions about KiwiSaver distribution.

One of New Zealand's largest employers of authorised financial advisers is looking to add to its advisory force, and is on the look-out for advisers who fit its unique profile.

The risks with KiwiSaver advice from registered financial advisers have been overblown and other areas of the market need more scrutiny, an RFA says.

The Financial Markets Authority has criticised Pyne Gould Corporation subsidiary Perpetual over $25 million of related-party loans to the Torchlight Fund, while voicing concern at their slow repayment.

The FMA's stance on KiwiSaver distribution could make it difficult for registered financial advisers to sell KiwiSaver, the Institute of Financial Advisers says.