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Russell Hutchinson
Auckland
I'm the principal the Chatswood Consulting Limited, live and work in New Zealand.
Interests: Family, financial services management consulting, living a good life in New Zealand. I love to read, run, work out, and soon I may admit to gardening.
Recent Activity
4 Mar 2021 - Overseas Investment Amendment Bill (No 3), introduced on 14 May 2020, reported back to Parliament. https://www.parliament.nz/en/pb/bills-and-laws/bills-proposed-laws/document/BILL_97807/overseas-investment-amendment-bill-no-3 4 Mar 2021 – APRA released separately the statistics for December 2020 for life insurance and general insurance. Weblinks are... Continue reading
Posted 3 days ago at moneyblog
In preparation for 15 March, Partners Life has compiled a list of things that financial advisers must do to ensure compliance. The list is designed as an informative piece as well as a mini checklist with questions regarding duties. ​The... Continue reading
Posted 3 days ago at moneyblog
Australian consultancy firm NMG Consulting was commissioned to review different aspects of the Australian life insurance industry. The report found that the decrease in adviser numbers, advisers shifting their attention to higher value customers along with more frequent reviews will... Continue reading
Posted 3 days ago at moneyblog
4 Mar 2021 – RBNZ released its decisions in response to submissions received on the Insurance Solvency Standards Principles and Timeline consultation. https://www.rbnz.govt.nz/news/2021/03/insurance-solvency-standards-refined-by-feedback 4 Mar 2021 – FMA released its fourth statistical report for the year ended 30 June 2020... Continue reading
Posted 4 days ago at moneyblog
Fidelity Life has announced that the customer engagement initiative will go ahead this year. The initiative is based on customer feedback via a net promoter score (NPS). In September 30 advisers with the highest NPS and their partners will travel... Continue reading
Posted 4 days ago at moneyblog
To help you prepare for the implementation of the Financial Services Legislation Amendment Act implementation on 15 March Quality Product Research Limited has made the following changes to the Quotemonster site: Prepared an outsourced provider statement. This provides you with... Continue reading
Posted 5 days ago at moneyblog
22 Feb 2021 - KiwiSaver (Life-shortening Congenital Conditions) Amendment Regulations 2021 (‘Regulations’) were released, coming into force on 26 March 2021. This is an important component of planning life risk - especially as KiwiSaver balances rise. It isn't quite the... Continue reading
Posted 6 days ago at moneyblog
An announcement on Partners Life and FINEOS Corporation claims system partnership has been made public. The partnership will mean that current claims systems and processes will be replaced. See details below. “DUBLIN--(BUSINESS WIRE)--FINEOS Corporation (ASX:FCL), the market-leading provider of group... Continue reading
Posted 7 days ago at moneyblog
24 Feb 2021 – Trustees Executors’ newsletter advised of the recent publication of a final report by the Board of the International Organization of Securities Commissions (IOSCO) outlining nine sound practices for retail investor complaint procedures in financial markets. The... Continue reading
Posted Feb 25, 2021 at moneyblog
23 Feb 2021 – IRD released a special report on the new resurgence support payment legislation. https://taxpolicy.ird.govt.nz/news/2021/2021-02-23-special-report-resurgence-support-payment 24 Feb 2021 – Companies Office published the following notice on it FSPR website: https://fsp-register.companiesoffice.govt.nz/ FSPR online services will be unavailable from 5pm... Continue reading
Posted Feb 24, 2021 at moneyblog
nib New Zealand has reported on the half year results that were presented in a webcast by nib holdings limited. nib New Zealand CEO Rob Hennin has said that the results to 31 December 2020 were pleasing. Hennin noted that... Continue reading
Posted Feb 22, 2021 at moneyblog
The Sydney Morning Herald had that powerful headline in a revealing piece about the future direction for ASIC as it enters upon the search for a new CEO. Link: https://www.smh.com.au/politics/federal/new-asic-chief-must-enforce-rules-not-fantasise-about-setting-them-hartnell-20210221-p574cs.html Continue reading
Posted Feb 21, 2021 at moneyblog
22 Feb 2021 – Privacy Commissioner released new guidance in relation to Privacy Principle 12 for sending personal information overseas, with the guidance in the form of two new interactive online tools to help organisations and businesses understand what they... Continue reading
Posted Feb 21, 2021 at moneyblog
18 Feb 2021 – Privacy Commissioner newsletter confirmed that Privacy Week 2021 will take place 10-14 May 2021. 18 Feb 2021 – The former Minister of Commerce and Consumer Affairs, Hon Faafoi, released his diary for September 2020, being the... Continue reading
Posted Feb 18, 2021 at moneyblog
What should advice cost? That was an excellent question from the audience during the first two of our recent getting in shape series. Perhaps this seemingly simple question surprised our panel. The answer to the question is not easy. It... Continue reading
Posted Feb 17, 2021 at moneyblog
Asteron Life’s insurance index 2020 provided insight into the insurance-related decisions made by SMEs. The index illustrated that the number of SMEs with multiple life insurance cover decreased when compared to the findings of 2019, with 38% of SMEs having... Continue reading
Posted Feb 16, 2021 at moneyblog
16 Feb 2021 – Taxation (Covid-19 Resurgence Support Payments and Other Matters) Bill introduced into Parliament, expected to be passed under urgency today. https://taxpolicy.ird.govt.nz/news/2021/2021-02-16-resurgence-support-payments-bill-introduced Continue reading
Posted Feb 15, 2021 at moneyblog
Reminder: Guidelines for Financial Services businesses and staff under COVID Alert levels with relevant weblinks at https://www.fma.govt.nz/news-and-resources/covid-19/financial-services-operating-at-level-2/ and https://www.fma.govt.nz/news-and-resources/covid-19/financial-services-operating-at-level-2/ Online investing platforms – resources https://www.fma.govt.nz/investors/online-investing-platforms/ Don’t miss out: last chance to apply for a transitional licence before 15 March 2021... Continue reading
Posted Feb 14, 2021 at moneyblog
With the move to alert level three travel plans for this week have been cancelled. I shall be in touch with each of you to reschedule meetings that were planned for in-person with either Zoom or a tentative alternative date.... Continue reading
Posted Feb 14, 2021 at moneyblog
12 Feb 2021 - FMA release advising that ANZ admits breaching FMC Act for misleading representations over credit card insurance charges. A hearing to determine the penalty was held today at the High Court at Auckland. https://www.fma.govt.nz/news-and-resources/media-releases/anz-admits-breaching-fmc-act/ 12 Feb 2021... Continue reading
Posted Feb 11, 2021 at moneyblog
AMP has revealed that the non-binding sale proposal made by Ares Management in October 2020 will not proceed. AMP has highlighted that it will continue to engage with Ares Management in regards to AMP Capital’s portfolio review. The AMP Board... Continue reading
Posted Feb 11, 2021 at moneyblog
10 Feb 2021 – Financial Services Council released a media statement detailing the results of research titled, “Unlocking the Potential of Professional Financial Advice”. https://www.scoop.co.nz/stories/BU2102/S00109/unlocking-the-potential-of-new-zealands-financial-front-line.htm Continue reading
Posted Feb 10, 2021 at moneyblog
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Dr. Clark acknowledged the work of financial advisers in helping New Zealanders manage financial affairs through the pandemic. Continue reading
Posted Feb 9, 2021 at moneyblog
RBNZ Governor Adrian Orr has said that all stakeholders affected by the recent data breach are currently being notified. RBNZ is also supporting organisations who had sensitive files downloaded. Orr has noted that Accellion, a US cloud solution company, failed... Continue reading
Posted Feb 9, 2021 at moneyblog
3 Feb 2021 – FMA Chief Executive Rob Everett spoke at the Financial Services Council Outlook 2021 event about a year in review, a look to the year ahead and key learnings from the challenging year that was 2020. https://www.fma.govt.nz/news-and-resources/speeches-and-presentations/rob-everett-fsco-2021/... Continue reading
Posted Feb 8, 2021 at moneyblog