NZ Adviser

Liberty Group, a financial services company operating across Australia and New Zealand, has appointed Olga Nicholson as a new underwriter, further boosting its adviser support team. With nearly a decade of experience in banking across the UK and New Zealand, including roles at NatWest and Barclays, Nicholson brings valuable expertise and a passion for problem-solving to her new position. https://lnkd.in/gKvQmFk7 #advisersupport #NZAdviser #advisernews #newunderwriter #nonbanks #newposition #financialservices

Bank of New Zealand (BNZ) has taken another critical step toward open banking becoming the first bank in New Zealand to meet a major milestone set by Payments NZ, an organisation that governs the country’s payments system. BNZ has implemented the Payments NZ Account Information API v2.1 standards, which when open banking is fully operational, will enable New Zealanders to safely and securely share their financial information with approved providers. The announcement comes a week after a report by the Commerce Commission, which touted open banking as integral to increasing competition in NZ’s banking sector and delivering better outcomes from consumers. BNZ's Karna Luke explains what it means for consumers and the financial services sector. https://lnkd.in/gbWAf4Z5. #OpenBanking #ConsumerDataRight #PaymentsNZ #NZbanking #BankingNZ #NZAdviser #advisernews

In a move to reinforce their commitment to providing support for its network of over 1,100 mortgage and insurance advisers, NZ Financial Services Group (NZFSG) has introduced several changes within their distribution team, including the appointment of new Auckland based Regional Manager Zane Low. Baden Martin, who stepped into the role of CEO earlier this year, emphasised that his primary objective has been to refine the business strategy to amplify the value offered to advisers. “As the home of New Zealand’s largest adviser community, we recognise the importance of delivering tailored support for different advice streams,” said Martin, who was appointed to his position in January. Nicole Ferguson | Shaun Fafeita | Brent McGregor | Adam Daly | Tania Styche | Nicola Riordan https://lnkd.in/g8YfSCnS #lendingteam #insuranceteam #NZFSG #advisers #mortgageadvisers #leadershipteam #NZAdviser #advisernews

Heartland Bank, in collaboration with The University of Auckland, has launched the Geoff Ricketts Heartland Bank Scholarship to honour the memory of Geoff Ricketts, a founding director of the bank and long-time chair of the University of Auckland Foundation. This new scholarship initiative aims to support up to four students each year who face financial challenges and may otherwise be unable to pursue a university degree, according to a news release. Bruce Irvine, chair of Heartland Bank and the Heartland Trust, praised the initiative. https://lnkd.in/gy7PPeU6 #HeartlandBank #Scholarship #UniversityOfAuckland #GeoffRicketts #EducationSupport #NewZealandNews #NZAdviser #advisernews

BREAKING NEWS: Specialist non-bank mortgage lender Bluestone Home Loans has made the decision to exit the New Zealand market and will stop accepting new home loan applications from August 30, 2024. Following a strategic review, the company concluded that the NZ market is “well serviced” and the “opportunity and product/market fit for us is small”. “As a result, we will be exiting our NZ business,” said Mark Jones, chief executive officer at Bluestone Home Loans. Jones said during the course of the review, Bluestone were approached by “a credible party” and are in “advanced discussions” to sell the NZ loan book. https://lnkd.in/gV7HHquh #Bluestone #nonbank #NZlending #NZmortgages #companyexit #NZAdviser #advisernews

BREAKING NEWS: NZ Adviser is thrilled to reveal the winners of the 2024 Top Advisers, celebrating the best performing mortgage advisers in New Zealand. The eighth annual edition of Top Advisers features 62 mortgage brokers who each settled at least $50 million in residential loans, for a staggering collective total of more than $5 billion. The winners included Peter Norris, Opes Mortgages; Supreet Mahey, Mike Pero Mortgages; April Hastilow, Opes Mortgages; Ash Mitchell, Spring Loans; Brock Shute, The Mortgage Advice Company Ltd; Connor Ward, Financing Futures Ltd; Gus Evans, Spring Loans; Jaz Bedi, The Mortgage & Loan Guru; Jen Taylor, Taylored Mortgages; Nick McCorkindale, Saving Kiwis Financial Solutions; Praveen Bhati, The Mortgage Centre; Ryan Kim, Core Financial Services; Sanjeev Jangra, Loan Market Manukau; Satyan Mehra CA Mehra, iConsult Mortgage Brokers; Shayaz Khan, SRK Financials Services and Limited T/A Loan Market; Simi Sethu, Kripa Financial Solutions Limited; and Varun Singla, Trugood Finance. Read the article here: https://lnkd.in/gr8BC3nX You can see the full Top Advisers 2024 report, including all the winners here: https://lnkd.in/gDS-TFZJ #mortgageadvisers #mortgagebrokers #mortgageindustry #industryawards #homeloans #lending

Mortgage associations FAMNZ and Financial Advice New Zealand have welcomed and applauded the Commerce Commission's report into competition in the personal banking services yesterday. The final report comes five months after ComCom’s draft report, which was unanimously slammed by the mortgage industry with FAMNZ country manager Leigh Hodgetts labelling it “baffling and embarrassing”. The new 389-page report, which Nick Hakes, chief executive officer of FANZ, called “bold and far reaching”, makes several recommendations, including strengthening potential “maverick” Kiwibank to increase competition with major lenders and standardising clawbacks on commissions to make it fairer for advisers. https://lnkd.in/efJg_yqm #MortgageCompetition #ComComReport #FinancialAdvisers #ConsumerProtection #NZBanking #MortgageAdvisers #NZAdviser #advisernews

The Commerce Commission’s Final Report into competition in the personal banking sector points to the potential of a stronger Kiwibank as a disruptor to the four major retail banks, and open banking as a “game-changer”, unlocking competition and revolutionising choice for Kiwi consumers. The Commission is recommending a raft of regulatory and structural changes to drive more competition for the benefit of Kiwi consumers – after the 14-month market study found “a stable, highly profitable, two-tier oligopoly with no disruptive maverick and a lack of obvious or aggressive price competition”. Commission Chair John Small said the further work and consultation following the release of the Commission’s Draft Report in March this year, “has only served to reinforce our view that competition isn’t working as it should in this sector, and Kiwi consumers are missing out as a result”. https://lnkd.in/gYw4tjJ4 #BankingOligopoly #Kiwibank #MarketCompetition #ComComNZ #FinancialRegulation #personalbanking #NZAdviser #advisernews

Time to recognise New Zealand’s fastest-growing brokerages. Submit your entry for Fast Brokerages 2024 here. https://hubs.la/Q02Lp8790

The Reserve Bank of New Zealand (RBNZ) has made a decisive move by cutting the Official Cash Rate (OCR) by 25 basis points to 5.25% in its much-anticipated August meeting. The Committee noted that the weakening in domestic economic activity observed in the July Monetary Policy Review has become more pronounced and broad-based. Jenny Campbell, Country Manager of mortgage aggregator Finsure, reacted positively to the news.  “A reduction in the OCR is a welcome relief, particularly as forecasters weren’t expecting anything to happen until later this year,” Campbell said. ASB Bank | Nick Tuffley | Kiwibank | Sabrina Delgado | Mary Jo Vergara | Jarrod Kerr | Westpac New Zealand | ANZ | Sharon Zollner | Bank of New Zealand | Stephen Toplis https://lnkd.in/gYNmXFRU #NZcashrate #officialcashrate #interestrates #NZeconomy #RBNZ #mortgages #NZAdviser #advisernews