By Stuart Washington – reprinted with permission.
The financial planning industry has a series of dirty little secrets that make investment banks look like paragons of virtue. And that’s pretty hard to do in this day and age.
Dirty little secret #1
New Zealand was ranked as the worst country in a global study of investor-friendly practices by Morningstar Fund Research. The survey looked at how countries safeguard the rights of fund investors.
Dunce of the World
New Zealand’s score of D- was the worst of all 16 countries surveyed, behind such countries as China, Taiwan, Italy, Hong Kong and Spain. (more…)
Investors with money in selected frozen funds can now trade their units on a new online secondary market that went live this morning.
TradeMyUnits.co.nz offers a way for unit holders to sell their investments in frozen funds by pooling the units together and offering them to institutional buyers. (more…)
Securities analyst and Pacific Wealth Creators founder James Clague is highly critical of overly diversified portfolios constructed by financial advisers, which he says is damaging investor returns…
I have seen numerous portfolios where the asset allocation is in my opinion unintelligent, irrational and often conducted in the name of diversification. This mass-diversification approach damages returns. (more…)
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