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

 

Scoop Business: Alex Swney Pleads Guilty To $2.5M Fraud Charge

Alex Swney, former chief executive of the Auckland city centre business association Heart of the City, has pleaded guilty to dishonestly using documents to obtain $2.5 million. More>>

ALSO:

Petrol Burns Prices: Second Consecutive Quarterly Fall For CPI

The consumers price index (CPI) fell 0.3 percent in the March 2015 quarter, following a 0.2 percent fall in the December 2014 quarter, Statistics New Zealand said today. The last time the CPI showed two consecutive quarterly falls was in the December 1998 and March 1999 quarters. More>>

ALSO:

Scoop Business: NZ Broadcasters Launch Battle Against Global Mode ISPs

New Zealand broadcasters have confirmed they’ve launched legal proceedings against internet service providers who give customers’ access to “global mode”, which allows customers access to offshore online content, claiming it breaches the local content providers’ copyright. More>>

ALSO:

Sanford: Closure Of Christchurch Mussel Processing Plant Confirmed

The decision comes after a period of consultation with the 232 staff employed at the Riccarton site, who were told on 9 April that Sanford was considering the future of mussel processing in Christchurch. Recent weather patterns had impacted on natural spat (offspring) supply... More>>

ALSO:

Price Of Cheese: Dairy Product Prices Fall To The Lowest This Year

Dairy product prices fell in the latest GlobalDairyTrade auction, hitting the lowest level in the 2015 auctions so far, as prices for milk powder and butter slid amid concern about the outlook for commodities. More>>

ALSO:

Houston, We Have An Air Route: Air New Zealand To Fly Direct To The Heart Of Texas

Air New Zealand will fly its completely refitted Boeing 777-200 aircraft between Auckland and Houston up to five times a week opening up the state of Texas as well as popular nearby tourist states such as Louisiana and Florida. More>>

ALSO:

Scoop Business: Reserve Bank’s Spencer Calls On Govt To Rethink Housing Tax

The Reserve Bank has urged the government to take another look at a capital gains tax on investment in housing, allow increased high-density development and cut red tape for planning consents to address an over-heated Auckland property market. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news