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August 2019
20 Aug 2019 A tale of two cities prices
20 Aug 2019 Latest on Harmoney legal case; new guidelines for landlords
20 Aug 2019 [GRTV] Why a four day week is good; Fears about markets
20 Aug 2019 KiwiSaver providers question loss-making assumptions
19 Aug 2019 NZ shares gain as tweaked earnings outlooks boost A2, weigh on Fletcher
19 Aug 2019 It's mostly up for health insurer nib
19 Aug 2019 FoxPlan: Killick hands over
19 Aug 2019 Comcom loses bid to derail Harmoney appeal
19 Aug 2019 FMA secures guilty verdict
19 Aug 2019 New privacy guidelines welcomed
19 Aug 2019 Will rates fall much further?
19 Aug 2019 AIA's shot at a TV ad
19 Aug 2019 ASB: Rates may not get much lower
19 Aug 2019 [GRTV] Why a four day week is good; Fears about markets
18 Aug 2019 Wealthpoint makes appointments
16 Aug 2019 [The Wrap] What the heck is a good customer outcome?
16 Aug 2019 NZ shares fall as global uncertainty weighs on utilities; Sky gains on M&A
16 Aug 2019 Hobson Wealth latest to enter KiwiSaver with a robo solution
16 Aug 2019 Development focus for new Hamilton-Auckland partnership
16 Aug 2019 nib aims to make advisers' lives easier with online tool
16 Aug 2019 Kiwibank fixed rate cuts; Avanti debt milestone
16 Aug 2019 Avanti reaches debt milestone
15 Aug 2019 Asteron Life links up with health insurance companies
15 Aug 2019 NZ shares join global rout as bond markets stoke recession fears
15 Aug 2019 Harmoney appoints new CEO
15 Aug 2019 FMA ponders advice exemptions
15 Aug 2019 Regulators' group announces new vision
15 Aug 2019 Share markets shake
15 Aug 2019 Perpetual Guardian has a new general counsel
15 Aug 2019 Heartland Group lifts annual profit 9% on reverse mortage and other lending growth
15 Aug 2019 More rate cuts at ASB; ANZ concerned about risk-aversion
14 Aug 2019 Heathcote adds another manager to its portfolio
14 Aug 2019 Lower and lower domestic interest rates
14 Aug 2019 Reporting season on track; Sky City signals growth ahead
14 Aug 2019 ANZ's Elliott voices concerns over credit controls
14 Aug 2019 Ross victims get green light to sue ANZ
14 Aug 2019 FMA insurance response next month
14 Aug 2019 Westpac,TSB, ASB rate cuts; Q Advisor Group sets out licensing stance; Avanti Christchurch role
14 Aug 2019 What’s more important for KiwiSaver members? Net returns or fees?
13 Aug 2019 NZ shares join global lull as investors remain nervous
13 Aug 2019 Stronger market on the cards
13 Aug 2019 BNZ and SBS rate cuts; DTIs on Reserve Bank's radar; Opportunity at Avanti
13 Aug 2019 Q Advisor Group sets out licensing stance
13 Aug 2019 Advisers need to negotiate lower fees
12 Aug 2019 Chipping away at bank KiwiSaver funds
12 Aug 2019 NZ shares flatline in light trading; Fonterra sinks after dropping dividend
12 Aug 2019 DTIs still on the Reserve Bank’s radar
12 Aug 2019 ANZ, BNZ rate cuts; FMA warns on licensing
12 Aug 2019 Chicken Little and the falling sky
12 Aug 2019 Advisers call for servicing test rethink for borrowers
12 Aug 2019 FMA boss tells RFAs the clock is ticking and they better hurry up
11 Aug 2019 Regulation of custody sector remains undecided
09 Aug 2019 [The Wrap] AMP lays out a bold future plan. Will it work?
09 Aug 2019 Sharemarket edge lower as investors await earnings season
09 Aug 2019 AMP completes capital raising
09 Aug 2019 Southern Cross recognised
09 Aug 2019 New Southern Cross CEO; Nelson Building Society rate cut
09 Aug 2019 Improvements in affordability nationwide
09 Aug 2019 Southern Cross names new CEO
08 Aug 2019 Advisers' ESG consideration blew our minds: Morningstar
08 Aug 2019 New Zealanders overexposed to New Zealand: Kiwi Wealth
08 Aug 2019 Kathmandu produces 'ripper' result
08 Aug 2019 Prospa raises $45 million for NZ funding
08 Aug 2019 Rate cut bonanza begins
08 Aug 2019 OCR cut could prompt housing market upturn
08 Aug 2019 AMP revises Resolution Life deal, further plans to spin off NZ wealth business
08 Aug 2019 Banks slash rates after historic OCR cut
08 Aug 2019 OCR will fall further: economists react to shock cut
07 Aug 2019 Default KiwiSaver scheme set for overhaul
07 Aug 2019 Kloogh's clients' missing $8 million
07 Aug 2019 Asteron reports lift in profit
07 Aug 2019 NZ shares climb as rate cut stokes demand for yield stocks; Mercury gains
07 Aug 2019 Reserve Bank surprises markets with 1% OCR
07 Aug 2019 OCR decision revealed
07 Aug 2019 Tenants need to know about insurance
07 Aug 2019 ASB lifts annual profit 8% but says underlying growth was subdued
07 Aug 2019 Official Cash Rate decision looms; Auckland prices fall
07 Aug 2019 KiwiWealth takes aim at Simplicity
07 Aug 2019 Affordability key to value growth
07 Aug 2019 Dealer groups face future without overrides
07 Aug 2019 Why are Australian banks investing in nuclear weapons companies?
07 Aug 2019 Tribunal fines landlord for insulation fail
06 Aug 2019 OnePath to disappear
06 Aug 2019 NZ market dives on escalating US-China trade war
06 Aug 2019 Share NZ appoints Compliance and Training Manager
06 Aug 2019 3 reasons SMEs struggle to get finance
06 Aug 2019 Talk of 0.75% OCR grows
06 Aug 2019 MyFiduciary signs big new client
05 Aug 2019 Health Funds shrugs off conduct scrutiny as insured numbers grow
05 Aug 2019 Milk shares droop on trade tensions; Local market follows Asia lower
05 Aug 2019 OCR will fall to 0.75%: Kiwibank
05 Aug 2019 Sir Brian Lochore remembered by financial advisers
05 Aug 2019 SBS cuts rates; OCR set to fall
05 Aug 2019 Investor confidence in property softens
05 Aug 2019 Ageing bull market may have longer to run: AMP Capital
04 Aug 2019 Greens renew call for tougher tenancy laws
03 Aug 2019 Kiwis can't get confident about shares: ASB
03 Aug 2019 Fidelity on hunt for new underwriter
02 Aug 2019 NZ stocks edge higher, led by Contact; Asian markets slide
02 Aug 2019 Banks, insurers' complacency 'hard to comprehend' - FMA
Latest News
Pie Funds enters adviser channel
Pie Funds enters adviser channel
3 min read
KiwiSaver members need more advice at retirement, panellists say
KiwiSaver members need more advice at retirement, panellists say
3 min read
Simon Papa: Access to advice - Is adviser conservatism the issue?
Simon Papa: Access to advice - Is adviser conservatism the issue?
9 min read
Second funds management firm sold today
Second funds management firm sold today
3 min read
Latest Comments
Give Total Rem the flick if KiwiSaver compulsory
Thank you Backstage. Look beyond just the structure/s. Currently, both employee and employer's contribution are taxed. So, even if I add a 3rd option - $100k salary of which $12k deducted for KS and no employer contribution. It made no difference financially whether it is option a, b or c, assuming law says $12k of the $100k pay package must go to KS. It will make a difference if a new tax law says, employer's contribution is tax free, then option "a" is a no brainer.
2 weeks ago W K
Simon Papa: Access to advice - Is adviser conservatism the issue?
Thank you Simon for such a substantial and thought-provoking piece. You write that “the CoFI law creates the potential for the FMA to influence the supply of financial products and services, not just conduct in relation to such supply”, to which I would offer two replies: Yes; and About Time. Your piece (and also your submission on the draft Fair Outcomes Guide) do suggest a preference for Rational Choice Theory and the Efficient Market Hypothesis. The problems with this being: Humans are not ideally-rational agents, and even if they were, the market is problematically inefficient. The latter is by design, by and for the benefit of the financial institutions. Informational asymmetries mean that consumers often don’t/can’t obtain the information they need to make an informed choice about whether to acquire, retain, or dispose of a financial advice product. (Good luck finding out the actual/modelled loss ratio on optional benefit x on product y.) Extending conduct requirements/expectations beyond supply, into areas such as design and pricing over the full life cycle of products and service offered, should help rebalance the scales. I agree with you when you write: “What is “fair” is inherently vague and contestable.” It doesn’t follow that it is unsuitable. Financial services law is full of such terms: “reasonable,” “care,” “diligence,” and “skill” immediately spring to mind. “Unusually large transaction” and “unusual pattern of transactions” from 22(1)(c) of the AML/CFT Act are vague, and currently subject to contest in FMA v InvestNow. Finally, I agree that more FADC cases would be helpful. Also helpful would be more details from enforcement cases the FMA has taken over the years. For example: Where a FAP was found to have breached the Record Keeping standard condition, provide a couple of (suitably redacted) examples of deficient files, along with explanatory commentary. If your files look like that, then do better.
2 weeks ago Paul Flood
Give Total Rem the flick if KiwiSaver compulsory
@WK agree with your summary and Murray, "exactly". Im a little confused about the statement, total rem has got to go? Even more confused by am mentat... blatant wage theft? Confused about young people not thinking about retirement or insurance? I have had the unfortunate experience at times working for multi national insurance companies and I do not recall them trying to get their mits on my wages, when did this happen? For centuries young people have not been able to picture themselves retired or believe that they will be multi-millionaires by this time. By the way, i bet they have a bank account. Hopefully am mentat works it out or, if he is a prosperous employer just continues to give give give to his employees with wild abandon and continues to cheer on any political parties that place more financial burdens on small business where generally the owner has risked all to try and get ahead. Employing people and helping in this way to provide for there families also.
2 weeks ago Darryl Scott
Give Total Rem the flick if KiwiSaver compulsory
As an investor, it is completely unacceptable to me that Total Remuneration continues if compulsion is brought in. It is simply wrong to continue putting downward pressure on salary and wages, particularly for people on minimum wage in a country that aspires to lift wages over time and raise the standard of living for NZers. National will lose my vote as a serious investor if they continue down the Total Remuneration path. No question...
2 weeks ago David Lawton
Give Total Rem the flick if KiwiSaver compulsory
This is just about the only online space outside of Newstalk ZB facebook comments where speaking out against blatant wage theft by multinationals is considered 'PC'. And yet still we wonder why those pesky younger generations of potential customers wholesale refuse to engage with traditional financial services. Couldn't be because our mindsets are stuck in the 1950s - no, it must be the kids who are wrong.
2 weeks ago Ross Alexander