Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Financial Advisers Advised to Adopt Evidence Based Approach

Financial Advisers Advised to Adopt an Evidence Based Approach

The Financial Markets Authority has sent a strong message to New Zealand’s investment advisory community: poor advice practices and unsubstantiated advice will not be tolerated.

Guests at a private function in Auckland this evening gained valuable insights into the unique approach one New Zealand firm is taking to help advisers deliver high quality investment advice.

The event, hosted by Consilium NZ Ltd, was attended by some of the sector’s leading advisers and proponents for increased responsibility among financial advisers.

Previously known as NZ Wealth Adviser Services, Consilium NZ Ltd is spearheading the move towards independent, evidence based investment advice.

Consilium’s carefully engineered diversified investment models provide investors with low cost access to proven sources of higher long term expected returns. Consilium, on behalf of their partner firms, manage close to $1billion NZD.

“Our approach is built on the premise that risk is the basis of return. Differences in average portfolio returns can be explained by differences in risk. Portfolio management becomes an issue of asset allocation across the dimensions of risk, rather than an issue of perceived money manager merit,” says Scott Alman, Managing Director of Consilium.

Consilium’s investment solution is audited annually to meet the requirements of the Centre for Fiduciary Excellence (CEFEX), which establishes global best practice standards for investment selection, monitoring and reporting.

“There is overwhelming evidence that most investment strategies based on forecasting and market timing fail to add sufficient return to justify the additional cost. From a risk adjusted return perspective, evidence based strategies typically provide a more rewarding investment experience,” says newly appointed member of Consilium’s investment committee, Dr Bart Frijns. Dr Frijns is a Professor of Finance at Auckland University of Technology and Director of the Auckland Centre for Financial Research.

As the only New Zealand company certified for support services by CEFEX, Consilium provides critical investment and adviser support to the New Zealand investment community.

Consilium’s clients include independent Authorised Financial Advisers, financial institutions and not-for-profit organisations charged with the responsibility of protecting and growing the financial assets of their clients.

Ends.

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Maritime: Navigation Safety Review Raises Big Issues For The Govt

Shipping Federation: "The reports makes it clear that the ratification of the Maritime Labour convention (MLC) is long overdue. Only when the MLC is ratified will Maritime NZ be able to inspect and enforce the labour conditions on international ships visiting our ports." More>>

ALSO:

100 Years After Einstein Prediction: Gravitational Waves Found

For the first time, scientists have observed ripples in the fabric of spacetime called gravitational waves, arriving at the earth from a cataclysmic event in the distant universe. This confirms a major prediction of Albert Einstein’s 1915 general theory of relativity and opens an unprecedented new window onto the cosmos. More>>

ALSO:

Farming: Alliance Plans To Start Docking Farmer Payments

Alliance Group, New Zealand's second-largest meat cooperative, plans to start withholding some stock payments to its farmers from next week to bolster its balance sheet and force suppliers to meet their share requirements. More>>

ALSO:

Gambling: SkyCity First Half Profit Rises 30%, Helped By High Rollers

SkyCity anticipates the Auckland business will benefit from government gaming concessions which were triggered on Nov. 11 in recognition of SkyCity’s $470 million Convention Centre development. Morrison said the concessions would allow the Auckland business to lift its activity during peak period, noting it had a record revenue week over the Christmas and New Year period. More>>

ALSO:

Money For Light: Kiwi Scientists Secure Preferential Access To Synchrotron

Science and Innovation Minister Steven Joyce today announced a three-year investment of $2.8 million in the Australian Synchrotron, the largest piece of scientific infrastructure in the Southern Hemisphere, to secure preferential access for Kiwi scientists. More>>

Telco Industry Report: Investment Hits $1.7 Bln A Year

Investment in the telecommunications sector is $1.7 billion a year, proportionately one of the highest levels in the OECD, according to a report released today on the status of the New Zealand sector. More>>

ALSO:

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news