1. 2013 - the good, the bad and the ugly

    Those financialalert spoke to nominated a variety of issues for our annual "the good, the bad and the ugly" roundup - and for what advisers should be doing over the break to prepare for 2014.

    David Maida, financialalert | 17-12-13 | More
  2. Key TASKS for 2014

    It is that time of the year where practitioners think in detail about the year ahead - most are hoping for that big "break through" year. You just need to focus on the right TASKS.

    Tony Vidler, Strictly Business | 17-12-13 | More
  3. Guaranteed income for life

    Come Christmas, there will no longer be any annuity product providers in New Zealand. Fidelity is pulling out, citing lack of demand. But a new player is hoping to set up in 2014.

    David Maida, financialalert | 12-12-13 | 1 comment | More
  4. Santa Claus, financial advisers, and trust

    The Santa myth can teach financial advisers a lot about the three levels of trust in the adviser-client relationship.

    David Greenslade, Strategi | 10-12-13 | More
  5. Looking for bubbles

    There has been much talk about bubbles in recent months. But to work out whether an asset class is in a bubble, you first need to identify the talk you should ignore.

    Dominic McCormick | 06-12-13 | More
  6. Age of entitlement

    Across the ditch, Australia's Productivity Commission has recommended a jump in the entitlement age for superannuation to 70. We spoke to Kiwi academics and financial advisers about the likely future of NZ Super.

    David Maida, financialalert | 05-12-13 | More
  7. US v China superpower battle is heating up

    The export of inflation by the US can do far more damage to China's effort to become a self-sufficient superpower than almost anything else the US could have thought of.

    Hon. Dr Pippa Malmgren, DRPM Group | 04-12-13 | 1 comment | More
  8. 3 ways to turn contacts into clients

    Most advisers routinely cross paths with attractive prospects in day-to-day life. The challenge is to raise the possibility of working together without becoming known as someone who is always pitching.

    Dan Richards, ClientInsights | 03-12-13 | More
  9. Back to housing bubbles

    Five years on from the GFC, we are witnessing in many countries a slow-motion replay of the last housing-market train wreck.

    Nouriel Roubini | 02-12-13 | More
  10. Squeezing out more juice

    We are introducing three new investment scenarios for 2014 - our base case, Low for Longer; our bull case Growth Breakout, and our bear scenario, Imbalances Tip Over.

    BlackRock Investment Institute | 01-12-13 | More
  11. The unintended consequences of ultra-easy monetary policy

    Today's long period of very easy money and very low yields has distorted the financial system. This will cause unintended consequences in the near future as QE ends.

    Woody Brock | 30-11-13 | More
  12. Increase your value proposition and boost your practice

    Why bother to get your CFP designation when AFA is the regulator's standard? Simple - 68% of CFP professionals generate higher revenues than those without certification.

    David Maida, financialalert | 28-11-13 | More
  13. Simple smart beta

    Is the simplest smart beta approach just repackaging old investment ideas in higher fee structures?

    Angela Ashton, PortfolioConstruction Forum | 28-11-13 | More
  14. 6 ways money really can buy happiness for your clients

    For some clients, even achieving their goals is unsatisfying. Research suggests that financial planners could go a long way in helping clients to really derive more happiness from their money.

    Michael Kitces | 26-11-13 | More
  15. Crystal ball (part 2)

    We have not achieved visibility in professional standards - we have achieved obscurity. That must change if we are to achieve public confidence as a profession.

    Tony Vidler, Strictly Business | 21-11-13 | 3 comments | More
  16. Academy Spring Seminar 2013 - Resources Kit

    The Academy Spring Seminar 2013 featured four sessions: Mock FOMC meeting; The state of economics/investing and of long-term expectations; A global perspective to bottom-up fundamental research, an Insurance sector case study; and, Investing in property.

    21-11-13 | 4 comments | More
  17. Beijing announces significant reforms

    Even our positive expectations of the much anticipated Third Plenary session of the Communist Party of China were exceeded.

    Harbour Asset Management  | 19-11-13 | More
  18. Improving target-date funds

    Most target-date funds have two shortcomings that can be improved.

    AQR Capital Management | 14-11-13 | More
  19. Forget the yield curve

    If I only had a dollar for every time I've read the US is safe from recession as "the yield curve is positively sloped."

    Charles Gave, GaveKal | 13-11-13 | More
  20. Understanding asset prices

    Predictability of asset returns is one of the most important issues in finance. This year's Nobel Prize in Economic Sciences was shared by three pioneers in the field.

    Angela Ashton, PortfolioConstruction Forum | 13-11-13 | More
  21. 2013 Conference - Webcast

    Conference 2013 facilitated debate on the markets, strategies and investing with particular focus on how to better construct portfolios for the whole of an investor's life so that they are more likely to achieve their goals.

    12-11-13 | More
  22. Don't dim on DIMS

    So you've read FMA's DIMS guidance note and decided it is all too hard? Hopefully not - non-corporate AFAs shouldn't be overwhelmed - and retaining DIMS may be good for business.

    David Greenslade, Strategi | 12-11-13 | More
  23. A lousy way to evaluate active managers

    Failing to find outperformance amongst active managers may be more a problem of measurement than a failure of active management.

    Michael Kitces | 12-11-13 | 2 comments | More
  24. The uncertain future of Central Bank supremacy

    Advanced-country central banks are putting on the line their independence and credibility.

    Mohamed El-Erian | 11-11-13 | More
  25. Bubbles, bubbles everywhere

    We've seen this movie before.Bubbles happen regularly - but why are we seeing so many bubbles now?

    John Mauldin, Mauldin Economics | 08-11-13 | More
  26. How many monkeys does it take to find a successful strategy?

    This article contends that some arguments used to validate alternative indexing can be easily proven false.

    Angela Ashton, PortfolioConstruction Forum | 08-11-13 | More
  27. Code puts CPD cat amongst the pigeons

    The Code Committee is currently reviewing final submissions on proposed changes to the Code of Professional Conduct for Authorised Financial Advisers. Structured Continuing Professional Development is shaping up as the hot potato, with the way in which advisers are accredited CPD hours set to change significantly.

    David Maida, financialalert | 07-11-13 | 1 comment | More
  28. Is economics a science?

    As one of the winners of this year's Nobel Memorial Prize in Economic Sciences, I'm acutely aware of criticism of the prize by those who claim that economics is not a science.

    Robert J. Shiller | 07-11-13 | More
  29. Comparing apples with oranges

    The Australian equity market has lagged far behind the US this year. But the S&P/ASX200 is actually ahead since the GFC market lows.

    Don Hamson, Plato Investment Management | 06-11-13 | More
  30. Crystal ball (part 1)

    Recently, I spent time reflecting carefully on how regulatory reform has worked thus far in New Zealand, and where things might head next.

    Tony Vidler, Strictly Business | 05-11-13 | More
  31. Bubbles in the broth

    The collapse from 2007 to 2009 of equity, credit, and housing bubbles led to severe financial crises and economic damage. Are we at risk of another financial boom and bust?

    Nouriel Roubini | 01-11-13 | More
  32. How smart can beta be?

    The term "smart beta" is comparatively new but the idea of using alternative methods to construct investable indices has been around a long time. Does it actually work?

    Angela Ashton, PortfolioConstruction Forum | 01-11-13 | More
  33. Next exit - the road ahead for the Fed

    One Fed exit has become clear. Chairman Ben Bernanke will hand over to Janet Yellen. The second - exiting an era of ultra-loose monetary policies - is fiendishly difficult.

    BlackRock Investment Institute | 31-10-13 | More
  34. Three key perspectives on the US debt drama

    These three insights will help cut through all the noise about the US debt ceiling debacle so you can understand whether it's something worth worrying about.

    Graham Rich, PortfolioConstruction Forum & financialalert | 31-10-13 | 1 comment | More
  35. Financial adviser regulation fails to deliver

    It is five years after the Financial Advisers Act (2008) was passed and two years since regulation came into force. A new survey reveals that adviser regulation has yet to deliver on its purpose.

    David Yates, NZFAA | 29-10-13 | 6 comments | More
  36. Research Review: Paying for performance

    For what types of funds are performance fees warranted, and what is a reasonable performance fee structure?

    Compiled by PortfolioConstruction Forum | 28-10-13 | More
  37. China's wake-up call from Washington

    The US debt ceiling debacle sent a clear message to China. The US may have to pay a much steeper price for capital.

    Stephen Roach | 25-10-13 | More
  38. The personal and demographic effects of ageing

    In this second of our two-part feature on ageing and how advisers need to adapt for this growing client base, we take a closer look at the personal and demographic effects.

    David Maida, financialalert | 24-10-13 | More
  39. Gold - the lead in many portfolios

    Gold's disappointing performance has been a topic of discussion at GaveKal. Most of us come down on the side of one of four possible explanations.

    Louis-Vincent Gave, GaveKal | 23-10-13 | More
  40. How to fix the flaws in financial planning

    With 80% of financial planning recommendations not leading to action, we need a fundamental reappraisal of how to create plans that translate into action.

    Dan Richards, ClientInsights | 22-10-13 | 1 comment | More
  41. Central banks calling the shots

    Central banks are likely to dominate investment news for years to come. Most of it will be noise. However, some of it will be critically important.

    Tim Farrelly | 22-10-13 | 1 comment | More
  42. Why DFA's new research is flawed

    This article, and DFA's silence, prompted a storm of response - and contributes to understanding the "science" of portfolio construction.

    Angela Ashton, PortfolioConstruction Forum | 21-10-13 | 7 comments | More
  43. Advising ageing clients

    By 2031, 32% of the population will be 55 or over. Last month's second annual Finology Conference showed advisers just how complicated the ageing process is and how to adapt their service for this growing client base.

    David Maida, financialalert | 17-10-13 | 1 comment | More
  44. What is the philosophy of your financial planning firm?

    There are many benefits to having a clearly articulated financial planning philosophy for your firm including helping ensure clients will be a good match.

    Michael Kitces | 15-10-13 | More
  45. Are we losing sight of the good we do?

    The new wave of jargon around financial planning should be a concern to us all. There is a very real risk that we will begin to lose sight of the good we do.

    Tony Vidler, Strictly Business | 14-10-13 | More
  46. Extracting value from demographic change

    Significant demographic change is happening. To prepare the retirement readiness, the financial services industry needs to provide better advice and products.

    Andrew Bascand, Harbour Asset Management | 08-10-13 | More
  47. How do you run out of money when you are printing it?

    The US debt debate cannot be blindly dismissed as a short-term issue. It will be navigated, but with no real solution - the ingredients are being put in place for higher bond yields.

    John Abernethy, Clime | 07-10-13 | 1 comment | More
  48. Should equity exposures really decrease in retirement?

    Conventional wisdom is that retirees should reduce their equity exposure in retirement as their time horizon shortens - in reality, the ideal may actually be the exact opposite.

    Michael Kitces | 07-10-13 | More
  49. Three big ideas from three prominent thinkers

    I'd bet these three ideas hold more valuable and implementable portfolio construction information than any short-term economic, political and market machinations.

    Graham Rich, PortfolioConstruction Forum & financialalert | 03-10-13 | More
  50. LVR ratio restrictions

    Even the new LVR ratio restrictions introduced this week are successful, will it have other side effects that are good or bad? I am worried for three reasons.

    Norman Gemmell, Victoria University of Wellington | 02-10-13 | 1 comment | More
  51. Who would you refer your mum to?

    A simple answer you might think. But, when we posed this question to the expert panel at the recent Finology Conference, it quickly became evident that they would struggle with who to recommend.

    David Greenslade, Strategi | 01-10-13 | More
  52. A world without risk free assets?

    The history of good sovereigns defaulting is a rich one, going back to the Middle Ages and Renaissance period. What could replace US Treasuries as the risk free asset?

    Angela Ashton, PortfolioConstruction Forum | 26-09-13 | More
  53. Financial literacy making progress

    A myriad of firms, institutions and individuals took part in the recent Money Week 2013. We talked with some of those involved to see where Kiwis are at in terms of financial literacy, money management and seeking financial advice.

    David Maida, financialalert | 26-09-13 | More
  54. Investing in a debt-fuelled world

    Deleveraging will leave a lasting impact - and meeting the challenges it presents investors will be critical to everyone operating in the new financial landscape.

    Amin Rajan | 24-09-13 | More
  55. Forward PEs look attractive?

    "Forward PEs look attractive" is often offered as an astute observation. It's almost a truism. But does using forward PEs to assess market valuations work?

    Tim Farrelly | 23-09-13 | 1 comment | More
  56. Envisioning the planning firm of the future

    Financial planning's "third wave" may well be a four-factor service model that places much greater emphasis on helping clients maximise their human capital, not just their financial capital.

    Bob Veres, Inside Information | 23-09-13 | More
  57. Don't fight the Fed

    So it was all a storm in a teacup. Markets have been going through a series of "taper tantrums” since Bernanke first mentioned the idea of tapering.

    Anatole Kaletsky | 19-09-13 | More
  58. Mixed views on proposed Code of Conduct changes

    With the deadline passed for submissions on the proposed changes to the Code of Professional Conduct for AFAs, we asked the Code Committee Chair and some of those who made submissions, what their view is of the proposed changes.

    David Maida, financialalert | 19-09-13 | More
  59. Why social media is not an alternative to networking

    Rather than being an alternative, social media is just another way to do networking and referral marketing. If you're struggling to dip your toe in social media, here's how to get started.

    Michael Kitces | 17-09-13 | More
  60. Key takeouts for Kiwi advisers from Conference 2013

    As a NZ delegate at the recent PortfolioConstruction Forum Conference in Sydney, here are the key pointsfor NZ advisers to take on board from this year's Lifecycle Investing theme - which should raise the priority of financial advice in clients' minds.

    Andrew Couch, Advanced Investment Solutions | 16-09-13 | More
  61. Advising mature clients

    As people get older and live longer, mature and elderly clients are starting to make up a larger part of advisers' client bases - and they bring a lot more issues than just their finances.

    David Maida, financialalert | 12-09-13 | More
  62. 5 ways to get families to talk about finances

    Of all the challenges for financial advisers, one of the most daunting is persuading clients to discuss their finances with family members.

    Dan Richards, ClientInsights | 10-09-13 | More
  63. All routes lead to the same exit

    The Fed will have to think of a new strategy to reopen the availability of credit - and that is a problem. At present, all routes of Bernanke's QE maze lead to the same exit - deflation.

    Nick Bullman, CheckRisk | 09-09-13 | More
  64. Kiwi economy more competitive than Australia

    The World Economic Forum released its Global Competitiveness Index last week - and NZ is up five places to 18th most competitive economy in the world, three places ahead of Australia.

    Jason Krupp, The New Zealand Initiative | 09-09-13 | 1 comment | More
  65. Publisher's Perspective: Too little - and far too late

    Back in February, we published an expose on links between Phoenix Forex, OakFX, World Investor New Zealand magazine and various others. Over seven months later, the Financial Markets Authority has warned the public.

    Graham Rich, finacialalert & PortfolioConstruction Forum | 05-09-13 | 9 comments | More
  66. Why sales skills matter more than ever

    I’ve discovered scientific evidence of the value that good advice creates! The impact of good advice has been quantified in a 83-page study, with surprising findings.

    Tony Vidler, Strictly Business | 04-09-13 | 4 comments | More
  67. The best time ever for AFAs

    In theory, investment advisory businesses should be booming but the reality is many are just limping along. Where is the disconnect and what needs to change?

    David Greenslade, Strategi | 03-09-13 | 2 comments | More
  68. Two fallacies behind the Big Data revolution

    The view is that advent of Big Data is a transformative event. But there are two arguments against the importance of Big Data to the economy and advancement of social welfare.

    Woody Brock | 02-09-13 | 1 comment | More
  69. Regulators may burst any house price bubble

    Now you should be long housing - but it is exposed to some regulatory risks and headwinds we should understand.

    Christopher Joye, Smarter Money Investments | 31-08-13 | 2 comments | More
  70. Regulator makes 12 recommendations to advisers

    In a report that will no doubt be read closely by the Financial Markets Authority - and therefore should get the attention of New Zealand advisers - the Australian Securities and Investments Commission (ASIC) has made 12 recommendations for financial advisers.

    Deirdre Keown, financialalert | 28-08-13 | 1 comment | More
  71. Slow start to Trans-Tasman super portability

    As of 1 July, anyone who has permanently immigrated between Australia and New Zealand can transfer their retirement savings to their new homeland. But it's not a simple like-for-like swap and it's already had its problems.

    David Maida, financialalert | 27-08-13 | 1 comment | More
  72. Xi - the first nine months

    For the past nine months, China has had a very new type of leader.

    Linda Jakobson | 27-08-13 | More
  73. Of dynamite fishing and whales

    Investing during bear markets is like dynamite fishing. We're starting to see fairly large fish float to the surface.

    Charles Gave, GaveKal | 26-08-13 | More
  74. Investing in Japan - the good, the bad and the ugly

    Contrarian investment ideas are hard to find. After a 20-year bear market and with the Nikkei still 60% below its 1989 high, Japanese equities are an attractive contrarian investment.

    Dominic McCormick | 15-08-13 | More
  75. Engage with the DIPPIES

    The DIPPIE population is sizeable, growing, and affluent - and, they have a number of pressing needs including finding a financial adviser they can trust...

    David Greenslade, Strategi | 13-08-13 | 1 comment | More
  76. The volatility effect in emerging markets

    This paper examines the empirical relation between risk and return in emerging equity markets and finds that this relation is flat, or even negative.

    David Blitz, Juan Pang, & Pim van Vliet, Robeco | 11-08-13 | More
  77. Bond market momentum, valuation and risks

    Looking beyond the immediate risk of Fonterra's product safety issues, over the medium-term, we continue to see sufficient global and domestic economic momentum to support higher bond yields.

    Christian Hawkesby, Harbour Asset Management | 08-08-13 | More
  78. Thinking outside the (portfolio construction) box

    In this bigger picture stuff, I think you'll find some valuable seeds to help you think about - and change or reconfirm - your practice's current approach to investment.

    Graham Rich, PortfolioConstruction Forum & financialalert | 05-08-13 | More
  79. Planning from the outside in

    There are valuable lessons in this paper by an adviser who embraced the lifecycle investing approach.

    Angela Ashton, PortfolioConstruction Forum | 05-08-13 | 2 comments | More
  80. Superannuation's contribution to Australia's economic future

    Australia faces big economic challenges - meaning superannuation will inevitably feel pressure for reform which will encompass four key changes.

    John Daley, Grattan Institute | 02-08-13 | More
  81. Frequent tinkering won't pay off

    Frequently adjusting portfolios is counterproductive even if costs are cheap, according to a new study.

    Wharton University | 02-08-13 | More
  82. FMA report card two years in

    Two years since inception, the FMA's CEO will leave after he finishes his minimum contract period in October. We asked industry bodies, advisers and the FMA for their views on how the regulator has done its job over the period.

    David Maida, financialalert | 01-08-13 | More
  83. In this time of creation

    Regulatory reform of financial advisers is still taking shape around the world. As advisers, we remain (just!) in the time of creation and opportunity – but there is no time to waste.

    Tony Vidler, Strictly Business | 31-07-13 | 6 comments | More
  84. Keep your eyes on the size

    Increasing FUM brings the risk of detrimental effects on performance, some obvious, others less so.

    David Scobie, Mercer | 31-07-13 | More
  85. Is the 4% rule folly?

    Defining failure of a retirement investment strategy as the chance of running out of money in retirement leads us to try to minimise this risk. Is it the right approach?

    Angela Ashton, PortfolioConstruction Forum | 30-07-13 | More
  86. The X factor

    The younger generation of clients who are now in their 30s and 40s has a very different financial outlook than their Baby Boomer parents. Advisers need to retool their client service and advice models to appeal.

    Bob Veres, Inside Information | 29-07-13 | More
  87. Issues Paper: Lifecycle investing

    Lifecycle investing considers the whole of a person's life to ensure acceptable standards of living are achieved consistently. It differs from more traditional approaches to financial planning in a number of important ways.

    PortfolioConstruction Forum | 26-07-13 | 1 comment | More
  88. Financial weapons of mass destruction

    Are investors better off taking higher dividend yields offered on stocks than investing in a new breed ASX-listed hybrid?

    Christopher Joye, Smarter Money Investments | 26-07-13 | 2 comments | More
  89. Risky business

    According to a recent survey, 37% of retirees cannot tolerate any portfolio losses in any one year. Even conservative portfolios would have failed that test over the past 25 years.

    DFS Portfolio Solutions | 26-07-13 | More
  90. Recruiting a new adviser to your team

    Finding the right person to join your financial advisory business can be tough. financialalert spoke with various sized advisory firms about their approach to taking on new advisers.

    David Maida, financialalert | 25-07-13 | More
  91. Getting past the "blah, blah, blah"

    It's not enough to say the right things or have the right credentials. Advisers have to be able to translate what they do for clients from the abstract to the concrete, to set themselves apart.

    Dan Richards, ClientInsights | 24-07-13 | 1 comment | More
  92. Sea change - the end of ZIRP

    If "The Power of Zero" were a movie, we've just watched the end. The great rotation out of bonds has begun and the beneficiaries will be cash, property, and equities.

    Bill Priest, Epoch Investment Partners | 24-07-13 | More
  93. The retirement risk zone

    One of the few studies on sequencing risk that is based on Australian data, it finds that the widely accepted retirement risk zone rule of thumb is quite wrong for local conditions.

    Angela Ashton, PortfolioConstruction Forum | 23-07-13 | More
  94. The risk issue we need to talk about

    While it is hard to quantify the benefits of investment risk management, it should not be discounted. Risk management is far more than just reporting volatility.

    David Bell, St Davids Rd Advisory | 19-07-13 | More
  95. Research Review: Stability vs new ideas

    Is it more important for a fund manager to have strong investment team stability, or to have some turnover of investment team staff to allow for new ideas?

    Compiled by PortfolioConstruction Forum | 16-07-13 | More
  96. Being objective about your objectives

    Many objectives-based investors have tilted their portfolios to high-yield Australian stocks, to achieve income and growth. But there are inherent problems with this.

    James Dunn, PortfolioConstruction Forum | 16-07-13 | More
  97. Skill vs luck - how many winners do you need?

    Napoleon famously wanted his generals to be lucky. But in funds management, skill is more dependable. Batting average gives some good insights.

    Richard Skelt, Fidelity Worldwide Investment | 16-07-13 | More
  98. Bad omens

    Maybe the huge list of problems equity markets must work through is the usual wall of worry - but a simpler explanation would be a rising tide of bad omens.

    Louis-Vincent Gave & Charles Gave, GaveKal | 15-07-13 | More
  99. Valuations & safe withdrawal rates

    This paper is a valuable addition to research on safe withdrawal rates for retirement portfolios, finding the 4% safe withdrawal rate may not be so safe in today's conditions.

    Angela Ashton, PortfolioConstruction Forum | 15-07-13 | More
  100. Woody Brock's challenge to Krugman

    We're not experiencing, as everybody thinks, a near-bursting bubble environment in bonds - and nor will the Fed trigger an uncontrollable rise in inflation when it ends its QE.

    Bob Veres, Inside Information | 12-07-13 | More
  101. Retirement withdrawals - the historic return dilemma

    The findings of this paper suggest that legislated minimum pension withdrawal rates may be too high and lead retirees to run out of money sooner than planned.

    Angela Ashton, PortfolioConstruction Forum | 11-07-13 | 5 comments | More
  102. The ageing revolution

    By 2031, the number of Kiwis aged 55-plus will grow to around 32% of the total population. Advisers need to develop different skills needed to really understand and help clients as they approach and enter retirement.

    David Greenslade, Strategi | 11-07-13 | 2 comments | More
  103. A Floor with an Upside best

    A Floor/Upside strategy should form the foundation of an investor's approach to retirement - and the good news is, many advisers already use a variation without realising it.

    James Dunn, PortfolioConstruction Forum | 10-07-13 | More
  104. When growth rises

    Growth indicators improved in June, despite equity markets being rattled. In the absence of an inflationary shock, we think equity markets will trend higher.

    Andrew Bascand, Harbour Asset Management | 08-07-13 | More
  105. Global risk outlook for 2013 deterioriates

    The EU faces another stomach-churching Summer and Autumn, while the Euro correction has started. At least Australian velocity of money is painting a pretty positive picture.

    Nick Bullman, CheckRisk | 07-07-13 | More
  106. Spotlight on disputes and PI cover

    This week, the FMA announced that three advisers are being brought before the Financial Advisers Disciplinary Committee (FADC). We asked what happens with disputes and what PI cover is appropriate.

    David Maida, financialalert | 04-07-13 | More
  107. Norway? No way!

    It is one of those ideas that come up again and again without ever being properly scrutinised – that a sovereign wealth fund (SWF) like Norway's is a fantastic idea that deserves to be copied elsewhere, even in New Zealand...

    Oliver Hartwich, The New Zealand Initiative | 03-07-13 | More
  108. Why nobody takes us seriously

    Consumers have a minimum level of expectation of a profession - requiring fundamental shifts in the ethical, educational and protection of public interest standards of some representative financial adviser organisations.

    Tony Vidler, Strictly Business | 02-07-13 | 7 comments | More
  109. 2013 Symposium - CPD Quiz

    Symposium facilitated debate on the three pillars of portfolio construction – markets, strategies and investing - to help delegates build better quality portfolios. This CPD Quiz is for delegates to complete, to receive Structured CPD Hours.

    01-07-13 | More
  110. Day 1 of AML compliance for advisers

    From today, advisers must comply with the Anti-Money Laundering and Countering Financing of Terrorism Act of 2009. We spoke to the regulators and advisers about what that really entails.

    David Maida, financialalert | 01-07-13 | 4 comments | More
  111. Cyberwars and investing

    Cyberspace is the new frontier and just like the old Wild West, bullets (albeit electronic ones) are flying. It is a big learning curve for investors.

    Hon. Dr Pippa Malmgren, DRPM Group | 01-07-13 | More
  112. How to become a specialist adviser (and earn twice as much)

    The challenge for most advisers is that they've built practices as generalists and aren't sure how to make the transition to become specialists. There are three basic steps.

    Dan Richards, ClientInsights | 24-06-13 | More
  113. Academy Winter Seminar 2013 - Resources Kit

    The Academy Winter Seminar 2013 features four sessions: Get micro about the macro - looking at big risks through the microscope; The Equity Risk Premium; A focus on Australian equities strategies in an objectives-based investing world; and, Equities and Inflation.

    21-06-13 | 1 comment | More
  114. Academy Autumn Seminar 2013 - Resources Kit

    The Academy Autumn Seminar 2013 featured five sessions: Market risk; Is Chinese growth a ponzi scheme?; Risk profiling; The approach to risk profiling for retirees; and Using risk factors to evaluate investments and build portfolios.

    21-06-13 | 3 comments | More
  115. Academy Summer Seminar 2013 - Resources Kit

    The Academy Summer Seminar 2013 featured three sessions: Making sense of the noise; Making sense of macroeconomic data; and, measurement and mis-measurement of risk.

    21-06-13 | More
  116. Nelson Mandela and South Africa - an extraordinary journey (1918 - 2013)

    In 1994, Nelson Mandela was elected President of South Africa. His capacity for forgiveness and sense of humility is a shining example for all humanity.

    Jonathan Pain | 20-06-13 | 6 comments | More
  117. Concerns about KiwiSaver churn

    Churning of KiwiSaver accounts has many financial advisers up in arms over alleged unethical and potentially illegal tactics by large financial institutions.

    David Maida, financialalert | 20-06-13 | 4 comments | More
  118. Why clients fire advisers

    After years of talking with clients coming to his firm from other advisers, one adviser compiled a list of reasons they left. I suspect these practices are widespread.

    Bob Veres, Inside Information | 19-06-13 | 1 comment | More
  119. The risk in risk parity

    This recent research paper challenges the usual risk parity approach to asset allocation.

    Angela Ashton, PortfolioConstruction Forum | 13-06-13 | More
  120. Advisers' key takeouts from Symposium 2013

    We asked delegates from the recent PortfolioConstruction Forum Symposium 2013 in Auckland for their key takeouts from the jam-packed, two-day program.

    David Maida, PortfolioConstruction Forum | 13-06-13 | More
  121. Why "save more tomorrow" may be better advice

    New research suggests that advisers should stop telling Gen X and Gen Y clients to save more now and, instead, simply help them to save more tomorrow.

    Michael Kitces | 12-06-13 | More
  122. Risk profiling - part art, part science, all necessary

    Investment is often compromised by the quest for easy answers to difficult and involved issues. Risk is one.

    James Dunn, PortfolioConstruction Forum | 12-06-13 | 2 comments | More
  123. What if there's no exit?

    When the GFC started, governments increased spending and hoped for multiplier effects. Six years on, it appears the critics have been right all along.

    Oliver Hartwich, The New Zealand Initiative | 11-06-13 | 1 comment | More
  124. It’s not what you charge but how that matters

    Increasingly, financial advisers operating in the investment space are reassessing their fee structures. Strategi has identified some remuneration trends.

    David Greenslade, Strategi | 07-06-13 | 2 comments | More
  125. To find alpha, first define it

    Everyone knows what alpha is - right? Yet even experienced practitioners fall into the trap of talking about alpha as being purely outperformance.

    James Dunn, PortfolioConstruction Forum | 07-06-13 | 2 comments | More
  126. The Fed's almost impossible balancing act

    The reaction of bond and equity markets in May highlights the almost impossible balancing act faced by the US Fed now the amount of monetary stimulus is so extreme.

    Christian Hawkesby, Harbour Asset Management | 07-06-13 | 2 comments | More
  127. An almost impossible balancing act

    As the US economy continues to recover from the GFC, the US Fed faces an almost impossible balancing act. Closer to home, the RBNZ faces an almost impossible balancing act of its own.

    Christian Hawkesby, Harbour Asset Management | 06-06-13 | More
  128. Leverage aversion and risk parity

    This paper may provide the missing theoretical basis to why risk parity works - a key step forward to it being accepted as a valid approach to asset allocation.

    Angela Ashton, PortfolioConstruction Forum | 05-06-13 | 2 comments | More
  129. Why investors can't afford to be complacent

    This is one of those times when investors should not expect to complacently buy what has worked well recently and achieve good returns.

    Dominic McCormick | 05-06-13 | More
  130. The changing face of advice

    A superb snapshot of the NZ advice industry has been provided by The Skills Organisation (formerly ETITO), that confirms some widely held views - and should change some of our other perceptions of the industry at large.

    Tony Vidler, Strictly Business | 04-06-13 | 18 comments | More
  131. 2013 Symposium - Resources Kit

    Symposium facilitates debate on the three pillars of portfolio construction – markets, strategies and investing. Established in 2011, it is THE New Zealand investment conference of the year.

    31-05-13 | More
  132. 2013 IFA Outstanding Contribution to the Profession Award

    The Institute of Financial Advisers presented its highest honour, the Outstanding Contribution to the Profession Award, at its annual conference last week.

    David Maida, financialalert | 30-05-13 | 3 comments | More
  133. How pursuing your passion can land new clients

    Last week I spoke to an adviser about how he turns one of his favourite recreational activity into new clients. It's simple and has paid big dividends.

    Dan Richards, ClientInsights | 29-05-13 | More
  134. Should we use bucket strategies?

    Recent research shows that bucket strategies can result in less optimal retirement outcomes. So rather than invest that way, why don't we just report that way?

    Michael Kitces | 24-05-13 | 2 comments | More
  135. Are fund of hedge funds dead?

    A new research paper finds that there is very little difference between the cost of a FoHF and investing directly.

    Zenith | 24-05-13 | 3 comments | More
  136. Are annuities good value for money?

    Clients who buy insurance accept they may never see any benefit. Annuities offer more value per dollar spent than common general insurance products.

    Challenger Retirement Income Research | 24-05-13 | More
  137. KiwiSaver twists and turns

    Nearly six years after KiwiSaver launched, there are now more than 2.1 million people contributing with $14.5 billion in the scheme. But many advisers are shunning KiwiSaver-only clients as large institutional advisers reel them in.

    David Maida, financialalert | 16-05-13 | More
  138. Southeast Asia headwinds appearing

    Investors became more risk-on early in 2013 and ASEAN equity markets were among the biggest beneficiaries.
    However, some headwinds have appeared in the form of heightened political risk and pockets of overheating.

    Gareth Nicholson, Fidelity Worldwide Investment | 14-05-13 | More
  139. Most people don't understand money

    Most people don't understand money - they understand what it does for them. Once you realise this, it is much easier to build a relationship with clients in a productive, less stressful and more holistic way.

    David Greenslade, Strategi | 13-05-13 | 3 comments | More
  140. An artificial world

    PortfolioConstruction Forum's publisher sat down for an exclusive one-on-one with PIMCO CEO and co-CIO, Mohamed El-Erian to what he calls a "fluid, unpredictable and artificial world".

    Mohamed El-Erian | 10-05-13 | More
  141. An introduction to lifecycle theory

    The essence of lifecycle theory is that portfolio outcomes should contribute to the attainment of an individual's goals and desires in life.

    David Bell, St Davids Rd Advisory | 10-05-13 | More
  142. So you call yourself a Financial Planner?

    Australia is looking at enshrining the term "financial planner/adviser" into law. New Zealand is already a step ahead. We look at the titles advisers are using, what the law allows, and what advisers may call themselves in the future.

    David Maida, financialalert | 09-05-13 | 8 comments | More
  143. Nudging clients towards their financial goals

    Make sure you think about how choices are delivered to your clients - choice architecture can help nudge them in the right direction.

    Michael Kitces | 07-05-13 | More
  144. The World

    Global growth cannot tell you the best countries to invest in - but if 2011-2020 continues broadly as assumed, ERP is unlikely to stay at its current high.

    Jim O'Neill | 06-05-13 | More
  145. Replacement business - what's the issue?

    The vexed issue of replacement business is bubbling up again. An adviser's obligations under the Code essentially pitches adviser against product supplier.

    Tony Vidler, Strictly Business | 06-05-13 | 2 comments | More
  146. Debt revisited

    Whenever clients are thinking about putting money that would have been invested into paying back their mortgage, they may be disadvantaging themselves.

    Bob Veres, Inside Information | 02-05-13 | 1 comment | More
  147. Down on gold?

    Gold has traditionally been seen as a safe haven to provide insurance to portfolios - but on 11 April its price began to free fall. Why? And does gold have a place in portfolios?

    David Maida, PortfolioConstruction Forum | 30-04-13 | 4 comments | More
  148. Think twice about low volatility funds

    Are low volatility equity funds something investors should be including in their portfolios? There are a range of issues to consider.

    Dominic McCormick | 23-04-13 | More
  149. Low interest rates for the long haul

    The Australian economy is affected only tangentially by fiscal problems elsewhere, but there are strong effects on markets. Currency is the lynchpin.

    Tim Farrelly | 18-04-13 | More
  150. A few days in Africa (and A$ update)

    If Africa could behave more together economically, by 2050, BRICs would become BRICA. Plus, the $A is more and more on my radar,

    Jim O'Neill | 18-04-13 | More
  151. How to communicate your account minimum

    Should you have a minimum asset threshold for new clients? Should there be other factors that you look at beyond just assets? How do you communicate your criteria to prospective clients?

    Dan Richards, ClientInsights | 15-04-13 | More
  152. Mortality risk

    It is unfortunate that most people spend much more time considering investment risk than mortality risk.

    David Bell, St Davids Rd Advisory | 12-04-13 | 1 comment | More
  153. Is Chinese growth a Ponzi scheme?

    China is in the throes of a classic credit bubble, showing all three key signs of any classic bubble. This is a big theme for markets.

    Chris Watling | 12-04-13 | More
  154. Abe and Kuroda - wow!

    What Bank of Japan Governor Kuroda announced last week was quite dramatic. It is the first time I can remember Japanese policymakers truly and positively surprising markets.

    Jim O'Neill | 12-04-13 | More
  155. The role of fixed income in portfolios

    With interest rates at historic lows, and likelyrate rises ahead, what are the implications for building the fixed income part of portfolios?

    David Maida, financialalert | 11-04-13 | More
  156. Simplifying the disclosure process

    A sizeable number of the Disclosure Statements we've reviewed are unnecessarily complicated and are turning a straight forward process into a nightmare.

    David Greenslade, Strategi | 10-04-13 | More
  157. Advice without value - perhaps it's the client’s fault?

    There are any number of ways to approach and discuss the issue of valuing financial advice. Perhaps, though, it is time to consider it from a slightly different perspective. Could it be that financial advice is worthless because of the client?

    Tony Vidler, Strictly Business | 08-04-13 | 6 comments | More
  158. Whose fault is it, really?

    It's time we financial planners stopped viewing clients who don't implement as "bad clients" and instead develop the skills to motivate them to do it.

    Michael Kitces | 04-04-13 | More
  159. Time to rethink direct equities?

    With 440,000 pre-registered to buy Mighty River Power, we asked some advisers about their view on the role of direct equities in investor's portfolios.

    David Maida, financialalert | 03-04-13 | 1 comment | More
  160. Currency battles

    Exchange rate adjustments are likely to help the global recovery but the situation bears monitoring.

    Wharton University  | 28-03-13 | More
  161. 2013 Global Investments Forum - Resources Kit

    With cash no longer providing the same high returns and income required for investors approaching or already in retirement, Global Investments Forum 2013 brought together selected senior investment professionals spanning the major sectors, strategies and regions of the world.

    27-03-13 | More
  162. The Retirement Income Policy Review – why it matters

    What we really need from the coming review is policy that addresses retirement income for young New Zealanders.

    Peter Neilson, Financial Services Council  | 27-03-13 | 1 comment | More
  163. Global Investments Forum 2013 - CPD

    This CPD Quiz is only open to those who attended Global Investments Forum 2013. Each question is compulsory and must be completed to receive your CPD accreditation.

    26-03-13 | More
  164. Cyprus - never let a crisis go to waste

    How can a $22bn economy be the dominant global topic of conversation? Cyprus is the epicentre of strategic issues.

    Jim O'Neill | 26-03-13 | More
  165. Cyprus deal exposes deep rifts

    EU ministers understand the law but they totally miss the behavioural economic consequences of their actions.

    Nick Bullman, CheckRisk | 26-03-13 | More
  166. Why gold still makes sense

    Is the bull market over for gold? I doubt it. The next phase could be quite explosive, particularly for the gold mining stocks.

    Dominic McCormick | 25-03-13 | More
  167. China not firing on all cylinders

    Signs of a cyclical re-acceleration are emerging, but the upswing in China's economy is not firing on all cylinders.

    Harry Colvin, Longview Economics | 22-03-13 | More
  168. Rational temperance

    On a 1-10 scale for irrationality, US credit and high yield bond prices are probably a 6 and moving up.

    Bill Gross, PIMCO | 22-03-13 | More
  169. A BRICS Development Bank?

    The talked-of Bank could have important implications for how economics and finance is changing.

    Jim O'Neill | 22-03-13 | More
  170. 5 steps to demonstrate your value

    Price is an issue only in the absence of value. Advisers who want to ensure future success need to adopt the credo: "Value isn't everything, it's the only thing".

    Dan Richards, ClientInsights | 21-03-13 | 1 comment | More
  171. Safe withdrawal rates in a low yield environment

    Just because starting conditions are suboptimal does not guarantee that safe withdrawal rates will fail today's retirees.

    Michael Kitces | 15-03-13 | More
  172. Japan in 2013 - new dawn or another false start?

    Are the policy proposals of Prime Minister Abe a signal to re-orient portfolios to Japan?

    Bill Priest, Epoch Investment Partners | 15-03-13 | 1 comment | More
  173. European glory

    Without some major shake-up, the Euro will fail. A monetary union between countries with no growth, rising unemployment and decreasing levels of trade with each other is just not credible.

    Jim O'Neill | 15-03-13 | More
  174. Kiwi advisers adjust portfolios for inflation, emerging markets

    A few weeks ago, a small contingent of Kiwi advisers travelled to Sydney to join around 500 practitioners for the annual PortfolioConstruction Forum Markets Summit. We asked the Kiwi delegates how what they heard is shaping the way they construct portfolios.

    David Maida, financialalert | 14-03-13 | More
  175. Are planners worth the fees they charge?

    Could financial advisers who offer comprehensive services be doing a better job? Two recent studies shed a positive light on the potential of the financial planning profession to do right by clients.

    Wade D. Pfau, The American College | 13-03-13 | More
  176. Bonds are negatively correlated to equities?

    Bonds are negatively correlated to equities – so they make a great portfolio diversifier despite their low yields, right?. Wrong.

    Tim Farrelly | 12-03-13 | 10 comments | More
  177. Consumers really DO value expert advice

    A recent study confirms that expert financial advice does change consumer behaviour - and consumers see it as more valuable.

    Tony Vidler, Strictly Business | 11-03-13 | 3 comments | More
  178. 2013 - the year the dog barks?

    Sherlock Holmes would've been intrigued – there were critical things that didn't happen in markets in 2012. Will they, in 2013?

    James Dunn, Dunn Media | 08-03-13 | More
  179. Beyond the fiscal cliff

    Is the consensus is correct in its assumption that equities are a good place to be right now?

    Simon Doyle, Schroders | 08-03-13 | More
  180. An Italian hell

    This time Italy's political crisis really matters - and not just to Italy. For the troubled Eurozone, this means its crisis is not only back but worse than before.

    Oliver Hartwich, The New Zealand Initiative | 07-03-13 | More
  181. Reform is not austerity

    Reform doesn't equate to austerity, as Italian voters have shown. US reform does not equate to austerity either.

    Jim O'Neill | 07-03-13 | More
  182. 3 financial planning models to serve Gen X/Y

    Most planners struggle to reach and effectively serve Gen X and Gen Y, tending instead to focus their on baby boomers. But it's quite possible serve at least a fairly wide swath of Gen X and Gen Y.

    Michael Kitces | 05-03-13 | More
  183. Global Investments Forum 2013 - Akl

    05-03-13 | More
  184. Global Investment Forum 2013 - Quiz

    04-03-13 | More
  185. CFP designation calms investors

    A new study of using brain imaging technology suggests investors second-guess non-CFP advisers more than those with the credential.

    Bob Veres, Inside Information | 04-03-13 | 1 comment | More
  186. 2013 Markets Summit - Resources Kit

    Markets Summit 2013 debated and identified the key investment market and asset class opportunities (and risks) ahead, to help in the search for return and in building better quality investor portfolios.

    03-03-13 | More
  187. Research Review: Performance track records

    What is an appropriate track record for a fund before it should be used?

    Compiled by PortfolioConstruction Forum | 28-02-13 | More
  188. A new year's resolution - start me up!

    Every policy maker in the world is joining in the chorus of "Start Me Up." Woe to the investor who doesn't listen.

    Bill Priest, Epoch Investment Partners | 17-02-13 | More
  189. Australian market opportunities - structural or cyclical?

    When looking at Australian stocks, it is important to look at how they're being impacted by shifts within the Australian and global economies.

    Paul Taylor, Fidelity Worldwide Investment | 17-02-13 | More
  190. On a path towards something different

    When I transverse the latest data and policy issues, the prospects for so many countries are either worrying or exciting or perhaps both, depending on your state of mind.

    Jim O'Neill | 15-02-13 | More
  191. The five pillars of risk for 2013

    The main areas of risk and contagion that investors may wish to consider in 2013.

    Nick Bullman, CheckRisk | 15-02-13 | More
  192. The road ahead

    Five themes define the opportunity set for asset classes and markets for the coming five years.

    Jim McCaughan, Principal Global Investors | 14-02-13 | More
  193. The outlook for resources in 2013 to 2015

    The catalyst for improved sentiment for commodity-based equities will be a return of confidence and more stable political and economic environment.

    Dr Joanne Warner, Colonial First State Global Asset Management | 13-02-13 | More
  194. Moving past uncertainty

    We are relatively optimistic about the outlook for global growth, and the US in particular. We see four main reasons why the market could become more worried about inflation.

    Philip Moffitt, Goldman Sachs Asset Management | 12-02-13 | More
  195. The outlook for Asian equities in 2013

    Amidst the volatility and doomsday talk in China, Asia ex-Japan equities ended up as the best performing region in 2012. For 2013, the outlook for Asia continues to be positive.

    Eng Teck Tan, TAAM | 12-02-13 | More
  196. How do you get a 30% pay rise for your career?

    Investing in yourself is worthwhile for financial advisers – but that message doesn't seem to have got through. Now hard evidence is starting to emerge from overseas that higher education pays for financial advisers.

    Tony Vidler, Strictly Business | 12-02-13 | More
  197. Is Australian on the podium?

    Consistently higher commodity prices are a thing of the past. There are two paths the economy can now follow.

    Mark Rider, UBS Global Asset Management | 12-02-13 | More
  198. The great new value divide

    The growing yield-seeking flood of money is causing a growing divide between real and perceived values in the private equity market.

    Urs Wietlisbach, Partners Group | 11-02-13 | More
  199. Publisher's Perspective: World Investor

    World Investor New Zealand magazine gives the appearance of serious quality. What's interesting is what's not said as much as what IS said. Transparency and disclosure should be as stringent for investment publications as for investment advisers.

    Graham Rich, finacialalert & PortfolioConstruction Forum | 11-02-13 | 1 comment | More
  200. China's foreign policy dilemma

    Major foreign policy issues face China's new leaders in regards the US, Japan, SE Asia, and North Korea.

    Linda Jakobson | 08-02-13 | More
  201. The history of EM growth

    What happens after 10% growth? History shows few economies last the distance.

    Chris Watling | 08-02-13 | More
  202. Are things that good?

    I never quite expected to be asking this question. But at some point, the question is going to become very real.

    Jim O'Neill | 08-02-13 | More
  203. AFA loses license before investigation complete

    In a first, an AFA has had his license cancelled by the FMA just weeks after it was granted, and while the FMA and the SFO are still only investigating a complaint against him. Not even David Ross has had his license completely revoked by the FMA. financialalert asked some industry insiders what the case means for other AFAs.

    David Maida, financialalert | 07-02-13 | 4 comments | More
  204. Mastering digital marketing

    Here's one adviser who has mastered social media and how it fits together, to stand out in the profession's "sea of sameness".

    Bob Veres, Inside Information | 05-02-13 | 1 comment | More
  205. PortfolioConstruction Forum Learning Partner Briefing 2013

    We were very pleased to kick off the new calendar year with our Learning Partners at our PortfolioConstruction Forum Learning Partner Briefing 2013.

    04-02-13 | More
  206. Why saying you're a fiduciary destroys trust

    The reality is that saying "You can trust me" is actually a terrible way to establish trust, especially when it's done using complex jargon that most consumers don't understand.

    Michael Kitces | 04-02-13 | More
  207. Three scenarios for 2013

    For better or worse, 2013 is likely to be another year when the market's fate will rest largely with politicians and policy makers. For now, we remain cautiously optimistic.

    Russ Koesterich, BlackRock | 01-02-13 | More
  208. Currency warriors

    It is shaping up for a period where the FX market is back, front and centre. An aspect at the forefront is the notion of so-called "currency wars". I'm dismissive of such accusations.

    Jim O'Neill | 01-02-13 | More
  209. Comprehensive rebuttal of the Hedge Fund Mirage?

    "The Hedge Fund Mirage" shows investors would've been much better off in US T-Bills over the past decade. We look at hedge fund association AIMA's "comprehensive rebuttal".

    Tim Farrelly | 29-01-13 | More
  210. The other doping scandal

    When Lance Armstrong finally confessed to doping, he received widespread condemnation. If only there was similar outrage over doping in monetary policy.

    Oliver Hartwich, The New Zealand Initiative | 25-01-13 | 1 comment | More
  211. Highlight on pro-bono advice

    It's an regrettable reality that financial advice remains out of the reach of most people. financialalert looked at when it might be practical to advise someone without charging them a fee and the implications...

    David Maida, financialalert | 24-01-13 | More
  212. FMA tells AFAs to review their processes

    As a result of the findings of its latest AFA Monitoring Report, the Financial Markets Authority says it expects all Authorised Financial Advisers to review their processes...

    Deirdre Keown, financialalert | 23-01-13 | 1 comment | More
  213. The key to SoA success

    The FMA's latest AFA Monitoring Report makes interesting reading. The findings support our conclusion after our review of over 500 client files in the previous 12 months - that is, that many AFAs need to do a better job with Statements of Advice.

    David Greenslade, Strategi | 22-01-13 | 2 comments | More
  214. Why should anyone choose you as their adviser?

    If you cannot answer that question clearly and quickly, you have a serious marketing problem. Frankly, if you can't answer that question in a meaningful way for a customer, then you probably don't deserve their business.

    Tony Vidler, Strictly Business | 21-01-13 | More