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Somers-Edgar under threat of investigation
To date, no investigation has commenced into various troubled investments related to Money Managers and/or its founder Doug Somers-Edgar - including the First Step Trust, Orange Finance Limited, Totara First Mortgage Fund, and Orange Insurance Limited. But at least one Money Managers franchisee has laid a complaint with the Commerce Commission...
The pros and cons of institutional alignment
One commonly heard claim about a 2010, post-regulation world is that advisory firms will need to join an institutional network, which will manage the presumed onerous compliance workload. In this first of a three-part series, financialalert talked to the major institutionally-aligned financial planning networks in New Zealand about what "aligned" means to them, the benefits to the advisers, and the obligations. Some were more forthcoming than others...
Rude awakening ahead on commissions
Advisers who rely on commissions are in for a rude awakening over the coming year, according to one speaker at the recent Step Up! IFA Conference in Auckland. Clayton Coplestone, director of Heathcote Investment Partners, sent a chill through the crowd when he stated...
As if client communication wasn't already a challenge, with the end of financial year passing, advisers are now having to explain to many PIE investors, why they must pay tax on foreign investment returns they haven't actually earned...
Disastrous! Depressing! Devastating! Just a few words used to describe 2008. No doubt scholars will study 2008 for decades to come. financialalert spoke with some local financial experts about how they've weathered a year which will go down in history...
financialalert Person of the Year 2008
In what has been an especially difficult year for New Zealand's financial advisory industry - and one in which advisers have copped more than their fair share of negative publicity - financialalert has selected as its Person of the Year 2008 someone who has fought hard for the industry, stood up for integrity and the highest educational standards - and kept a positive eye toward the horizon...
Referrals crunched by market turmoil
Referrals have long been a good source of quality business for financial advisers. But the turmoil in the financial markets has changed the way in which New Zealand advisers, lawyers and accountants interact with each other...
New Zealand advisers are feeling the heat from investors hurting from the seemingly endless string of finance company failures. But there's opportunity in adversity. Murray Weatherston, principal at Financial Focus says this is the worst confidence crisis for investors he's ever seen...
Advisers woke up last month to the unwelcome news that they may not be covered by their professional indemnity insurance, if they recommend investment in a company that fails and the prospectus is found to be untrue. financialalert caught up with the experts to see what other loopholes may exist, and what advisers can be doing to protect themselves...
More financial dominoes to fall
When National Finance called in the receivers in May 2006, it was big news. But now, after 23 such failures, investors are more surprised to see any good news coming from the sector. When Instant Finance posted profits for the year ending 31 March at double over last year, it was a ray of light in an otherwise dark and dismal landscape...
KiwiSaver - no boon for advisers (yet?)
A year after KiwiSaver was launched, the media has been buzzing about how overwhelming the response to the scheme has been. But it's certainly been no godsend for the financial adviser community. Deborah Carylon, director of Stuart & Carylon, says they initially had a flurry of 55 to 60 year olds, mostly working women, wanting advice on whether or not to join...
Teachers can take time out to study
Teachers in New Zealand have access to $39 million in sabbaticals, study awards and study leave positions each year. The Ministry of Education gives out the awards to more than 900 teachers annually...
Engineers are usually in high demand but with the Government's infrastructure spend up, even more people will be needed for this wide-ranging and interesting career...
For many workers, the wait is over. They've hung on to their jobs through the recession and restructurings despite wanting to jump ship long ago. Now the economy is on the mend they're itching to go. But it's still a tough labour market and as managing director of Hays New Zealand Jason Walker explains, only candidates who really impress will come out on top...
Demand builds as major projects come online
The demand for qualified civil engineers is set to take off as the Government's new infrastructure plan is implemented, says Tim Davin, director of policy for the Institution of Professional Engineers New Zealand (IPENZ)...
Water management increasingly important
If you're good at maths and would like a job that gets you out of the office, a career as a river engineer might be for you. River engineers are in high demand as the need for water management becomes increasingly important in New Zealand and around the world....
Living Greener at Home [PDF 2MB]
When architect Johann Bernhardt left his native Germany to immigrate to New Zealand, the European nation hadn't made the huge strides toward eco-housing that it has today. But they were realising that they needed to do something to curb their effect on the environment. "In Germany there were so many problems. The environment was deteriorating at a fast rate and it was very visible," says Johann...
As I set out on the seafood and aquaculture trail around the coastline of the Eyre Peninsula, South Australia, I knew to expect something different. Over the next five days I would experience swimming with wild sea lions, eating fresh oysters seconds after opening and tasting abalone for the first time...
Succeeding in Tough Times [PDF 1.8MB]
It may be gloomy outside, but that doesn't mean your business has to follow the trend. Find five ways to make hay when the sun isn't shining...
Flash Back - Iconic photographer Frank Habicht talks of the swinging '60s [PDF 4.7MB]
Frank Habicht viewed the 1960s through the lens of his camera with an exhuberance that only his photos can reveal. In London, the Carnaby Street era was a time of dramatic change, experimentation and social discovery that proved fertile ground for the son of a German chemist...
Advantages of being in the Loop [PDF 560KB]
The Nelson Loop is a fibre-optic and wireless network that's delivering Internet connection speeds of up to 1GB to schools in the Nelson /Marlborough region - schools who previously had not even enjoyed basic broad band, let alone speeds comparable to the best in the country...
Violin via videoconference [PDF 600KB]
If you're in a rural school, chances are music lessons are not that easy to come by. So, if you have a budding Dame Kiri or Neil Finn growing up in your classroom - or kids who just want to give a musical instrument a try - what do you do? David Maida takes notes...
Cutting it in Business [PDF 2.1MB]
Let's say you're the mother of a young family. There's no need to mention how much you always have to do: get the husband and the kids off to work and school, ferry kids around to school sports and activities, run a household and of course, think constantly about family meals. Chances are you would love the idea of being able to simply click your computer mouse, select a convenient time and then head off to a stylish venue where, amongst pleasant company and with a glass of wine, you could prepare up to 12 appetising and nutritious meals for your family in only an hour or two...
The Midas Touch [PDF 2MB]
A franchise is a great way to start yourself up in a new business without all the pressure and stress of going out on your own, says Elizabeth Anglesey, co-franchisee with her partner Marcus of the Midas vehicle services outlet in the Auckland suburb of New Lynn...
Getting Staff Engaged [PDF 560KB]
Recruit for fit. Train for skill. You can teach anyone anything but you will never change who they are, says Simon Mundell, Director of the business development and business coaching company, The Results Group...
Hedgehog Haven [PDF 1MB]
I'd left the jar of peanut butter outside on the ground for the birds to finish off. The little hedgie had obviously been trying to free itself for quite a while and was none too happy about his predicament. As soon as I picked up the jar, he balled up and easily slid out to freedom. He looked a mess and had peanut butter all over his face. I cleaned him up as best I could and set him free...
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