ANALYSIS: Wealth management now wags the stock-broking dog

By Jenny Ruth Sept. 16 (BusinessDesk) - Could the lack of new listings on NZX be as simple as New Zealand not having enough traditional stock-broking and merchant banking firms? The capital markets review's report mentions the issue: "Each of the five primary retail NZX firms has moved from broking models to wealth management models with a concentration on asset allocation and portfolio construction," it says. "This has been beneficial for those who get this advice and service but has been at the cost of smaller-cap companies and those...