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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
11 June 2021 – FMA announced a temporary extension for certain reporting deadlines in response to a shortage of auditors in New Zealand. https://www.fma.govt.nz/news-and-resources/covid-19/temp-extension-reporting/ 9 June 2021 - New Zealand Superannuation and Retirement Income (Fair Residency) Amendment Bill completed second... Continue reading
Posted yesterday at moneyblog
Financial Advice NZ has announced that a liability programme for members has been launched. The insurance plan will be available to all advisers from 1 July 2021. Financial Advice NZ CEO Katrina Shanks has said that the programme is designed... Continue reading
Posted 4 days ago at moneyblog
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We have scheduled an Advicemonster Demonstration with Russell and Treena on Tuesday, 22 June 2021 11:00 AM to 12:00 PM. In this session, we will go over how Advicemonster helps advisers meet their compliance regulations and offer their clients quality... Continue reading
Posted 5 days ago at moneyblog
9 June 2021 – Privacy News from the Office of the Privacy Commissioner referred to a consultation released by the Department of Internal Affairs on 19 April 2021, with submissions closing on 11 June 2021, on a proposed Death Approved... Continue reading
Posted 6 days ago at moneyblog
8 June 2021 – Reserve Bank of NZ Bill reported back to Parliament from Select Committee. https://www.parliament.nz/en/pb/bills-and-laws/bills-proposed-laws/document/BILL_99656/reserve-bank-of-new-zealand-bill Continue reading
Posted 7 days ago at moneyblog
It is always worth reconnecting with this great story from time to time: humans have been able to increase life expectancy dramatically in the last 150 years. It is not, of course, a one way proposition. Poor management, disease, bad... Continue reading
Posted 7 days ago at moneyblog
AIA announced that Canterbury flood victims are being offered insurance premium relief: AIA NZ is offering customers affected by the flooding in the Canterbury region a one-month premium relief on life and health insurance policies. Sharron Botica, AIA NZ Chief... Continue reading
Posted Jun 4, 2021 at moneyblog
News reports show a drop in adviser numbers in Australia close to 15% in just one year, perversely leading to increased ASIC levies for the remaining advisers to cover ASIC costs. https://www.moneymanagement.com.au/news/financial-planning/asic-levy-increase-due-declining-adviser-numbers These costs must, of course, be passed on... Continue reading
Posted Jun 4, 2021 at moneyblog
2 June 2021 – IRD released an updated “Public Guidance Work Programme for 2020-21” at the same time as seeking input into the 2021-22 work programme, with any suggestions for inclusion in the latter to be sent to Public.Consultation@ird.govt.nz Weblink... Continue reading
Posted Jun 3, 2021 at moneyblog
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nib foundation has launched Health Smart Grants, its first New Zealand grant programme. The grant is designed to support registered charities that work to improve the health and wellbeing of New Zealanders. nib has noted that there are three $40,000... Continue reading
Posted Jun 2, 2021 at moneyblog
2 June 2021 – Commerce Commission finalised due diligence guidance for consumer credit providers. https://comcom.govt.nz/news-and-media/media-releases/2021/commission-finalises-due-diligence-guidance-for-consumer-credit-providers 2 June 2021 – RBNZ published a speech delivered by RBNZ Head of Financial Markets, Vanessa Rayner, titled “A Strategic View of Te Pūtea Matua’s... Continue reading
Posted Jun 2, 2021 at moneyblog
31 May 2021 – RBNZ released the findings of the independent reports on an illegal data breach and its handling of sensitive information. https://www.rbnz.govt.nz/news/2021/05/reserve-bank-taking-action-to-respond-to-data-breach-reports 1 June 2021 – Financial Services Council (FSC) released the latest Financial Resilience Index, revealing over... Continue reading
Posted Jun 1, 2021 at moneyblog
Investment News NZ highlights the issue of 'zombie fees' in its recent piece on ASIC's legal action against five AMP entities in Australia. "Zombie fees" are fees which carry on being charged even if no service is being given, sometimes... Continue reading
Posted May 31, 2021 at moneyblog
24 May 2021 – Advertising Standards Authority calls for submissions on the review of its Code for Financial Advertising, with submissions closing on 30 June 2021. https://www.asa.co.nz/2021/05/24/media-release-consultation-on-code-for-financial-advertising/ 25-27 May 2021 – APRA released statistics for life insurance, general insurance and... Continue reading
Posted May 30, 2021 at moneyblog
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Some of our users have recently encountered the pop-up error message below when logging into Quotemonster - and this is the fix: changing your Ad Blocker settings. Recent updates to Chrome have automatically added an AdBlock feature to your browser... Continue reading
Posted May 30, 2021 at moneyblog
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AIA held their AIA Summit at the Park Hyatt. The summit was organised to inspire and encourage over 130 advisers to focus on their health and wellbeing. The summit was made up of local and international speakers that focused on... Continue reading
Posted May 26, 2021 at moneyblog
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Home purchase has been a major driver for bringing new households into comprehensive insurance planning. Fewer, older, homeowners, reduces the numbers in that pathway to cover considerably. Some flow remains, but the people are older, and more likely to have... Continue reading
Posted May 25, 2021 at moneyblog
24 May 2021 - Results of the 2020 New Zealand Consumer Survey, conducted every two years by MBIE’s Consumer Protection team, became available. https://www.consumerprotection.govt.nz/news-and-media/new-zealand-consumer-survey-2020/ 25 May 2021 – FMA media release titled “Thousands of young New Zealanders missing out on... Continue reading
Posted May 24, 2021 at moneyblog
Statistics New Zealand has a fascinating data explorer for wellbeing - you can find it at this link. For those of you interested in the impact of COVID, you're out of luck as the most recent period included in the... Continue reading
Posted May 24, 2021 at moneyblog
20 May 2021 - Minister of Commerce and Consumer Affairs, Hon David Clark, April 2021 diary released with the following potential financial services sector related meetings noted: 6 Apr 2021 – RBNZ (Geoff Bascand, Deputy Governor and Toby Fiennes, Head... Continue reading
Posted May 24, 2021 at moneyblog
Tony Vidler directs us to this article by Alan Moore of XY Planning Network. It contains a comprehensive list of all the main methods for charging fees in the investment and general financial advice sector. There are some gems to... Continue reading
Posted May 23, 2021 at moneyblog
19 May 2021 - Overseas Investment Amendment Bill (No 3) completed third reading in Parliament. https://www.beehive.govt.nz/release/overseas-investment-reform-protects-strategically-important-assets 20 May 2021 – FMA announced the appointment of Liam Mason as General Counsel. https://www.fma.govt.nz/news-and-resources/media-releases/fma-appoints-liam-mason-as-general-counsel/ 20 May 2021 – Good Returns reported that the... Continue reading
Posted May 20, 2021 at moneyblog
The FSC has announced that early bird tickets for September’s ReGenerations Conference are now available. The FSC has highlighted that the conference will include three different workstreams and six pathways to allow attendees to hear key up-to-date information relevant to... Continue reading
Posted May 20, 2021 at moneyblog
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The QPR team have been working hard to implement changes to our website and Research in order to keep up with the changes in our fast-paced industry. Recent updates to Quotemonster: Quoting to reflect Life buyback is in-built for Asteron... Continue reading
Posted May 18, 2021 at moneyblog
17 May 2021 – Department of Internal Affairs advised that it had extended the interim solution for corporate trustee annual AML/CFT report obligations such that a corporate trustee, whose AML/CFT obligations are being fulfilled by a parent law firm, accounting... Continue reading
Posted May 17, 2021 at moneyblog