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When an investment earns interest, this may be added to the overall sum, resulting in compound interest – essentially earning interest on interest. Read about the compounding effect, and how powerful it can be over the long term.
This month's FMA Investor Profile features Te Kahukura Boynton, (Te Whakatōhea, Ngāti Kahungunu, Ngāi Tūhoe) an 18-year- old Waikato law student on a mission to empower Māori to become financially independent through her investing and self-development platform ‘Māori Millionaire’.
In May 2021, the Finance Minister and Minister of Finance and the Minister of Commerce and Consumer Affairs announced the 6 KiwiSaver providers who will offer default fund services from 1 December 2021.
In this article, FMA Director of Banking and Insurance at Financial Markets Authority Clare Bolingford describes how the regulatory lens is changing to look at how fair and equitable outcomes are for customers.
September 30 2022 is the target date for all Class 1 or Class 2 financial advice providers to apply for their full license. FMA talks about progress and support available in the run down to the target date.