New Zealand Financial Markets Authority Publicly Warns Financial Adviser For KiwiSaver Advice In Wake Of COVID-19 Date
04/03/2021
The Financial Markets Authority (FMA) has issued a public warning to a financial adviser due to advice he gave clients in relation to their KiwiSaver and other investments following COVID-19 market volatility.
Roger David Gannon, an Authorised Financial Adviser (AFA) of Gannon Insurance Brokers, sent a bulk email in March 2020 to his clients recommending they immediately move their savings in KiwiSaver plans and similar investment funds to ‘low risk’ funds in the wake of market uncertainty caused by COVID-19. The FMA was alerted to the communication after receiving a complaint from one of Mr Gannon’s clients.
Canny View: Put purpose at the core of your retirement strategy nzherald.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nzherald.co.nz Daily Mail and Mail on Sunday newspapers.
Date Time
FMA publicly warns financial adviser for KiwiSaver advice in wake of COVID-19
The Financial Markets Authority (FMA) has issued a public warning to a financial adviser due to advice he gave clients in relation to their KiwiSaver and other investments following COVID-19 market volatility.
Roger David Gannon, an Authorised Financial Adviser (AFA) of Gannon Insurance Brokers, sent a bulk email in March 2020 to his clients recommending they immediately move their savings in KiwiSaver plans and similar investment funds to ‘low risk’ funds in the wake of market uncertainty caused by COVID-19. The FMA was alerted to the communication after receiving a complaint from one of Mr Gannon’s clients.
Good advice the difference between being able to say no, having to say yes nzherald.co.nz - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nzherald.co.nz Daily Mail and Mail on Sunday newspapers.
Canny View: Transitioning to a goals based future
28 Jan, 2021 08:29 PM
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Any successful career will at one point see a peak and then a decline. Consider active investment managers. Many can be lauded for their successes and anointed as geniuses we should follow, but there s a reason for the warning that past performance is not a reliable indicator of future success .
2019 highlighted the spectacular fall of money manager Neil Woodford, but he s not the only one to lose his Midas touch. Bond King Bill Gross lost his throne and retired earlier last year after being unable to recapture past successes.