When should a financial adviser say they’re “independent”?
I recently had a public brouhaha about a financial advice business that was claiming to be “independent”, even though it was partially owned by a financial product issuer....
Category: Financial advice
Where are people getting advice about direct property and what sort of advice are they receiving?
On May 24 I wrote my first “tweetstorm” (follow me on Twitter here). I made a number of observations about the FMA’s recent snapshot of NZ’s 1,800 Authorised Financial...
Many financial advisers are selling Porsches when most people want Toyotas
Many financial advisers are selling Porsches when most people want Toyotas. Let me explain…
Financial advice for older clients – presentation for lawyers
A presentation I gave to lawyers with an interest in elder law, about how lawyers and financial advisers can work together more effectively.
“Sunlight is the best disinfectant”. Some thoughts on the Australian financial services Royal Commission
I’m not happy about the misconduct that has been revealed by Australia’s financial services Royal Commission. But I am delighted that it’s coming to light, and think this will be a great thing for people seeking high quality financial advice in the future.
My second submission in relation to the future Code of Conduct for Financial Advice services
In this article I share my second submission to the Code Working Group responsible for the proposed Code of Conduct for Financial Advice services. I reiterate and expand on my original submission, trying to put a strong case for ensuring that high quality advice is widely available to Kiwis, and that there aren’t unnecessary compliance costs associated with providing holistic, strategic advice (rather than limited, product-focused advice).
My submission in relation to the future Code of Conduct for Financial Advice services
In this article I talk briefly about upcoming changes to how financial advisers will be regulated, and the proposed Code of Conduct for Financial Advice services. I also share my 3,000 word submission to the Code Working Group – where I try to put a strong case for ensuring that high quality advice is widely available to Kiwis, and that there aren’t unnecessary compliance costs associated with providing holistic, strategic advice (rather than limited, product-focused advice).
On companies and their corporate DNA
Companies have a corporate DNA, or core genetic profile. Does yours align with your values and priorities, and enable you to be healthy, happy, and ethical? (This article is less practical and more philosophical. It’s also more relevant if you’re self-employed or have significant influence where you work.)
The absurdity of asset-based fees
Most investment advisers charge clients on the basis of asset-based fees (which are calculated as a percentage of the client’s investment portfolio). I don’t like asset-based fees, and in this article I explain why.
When sales spiels masquerade as advice
Australia’s financial services regulator is ASIC. (The New Zealand equivalent is the Financial Markets Authority (FMA).) ASIC recently released a report on how large financial institutions manage...
