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June 2019
27 Jun 2019 Yield hunt lifts Genesis, Auckland Airport to records
27 Jun 2019 Expect more intrusive Reserve Bank: Bascand
27 Jun 2019 Rates to fall further?
27 Jun 2019 Foreign buyer ban impacts Queenstown Lakes
27 Jun 2019 900 dropping out 'too low'
26 Jun 2019 NZ shares dip as investors eye Fletcher update
26 Jun 2019 OCR on hold: economists predict August cut
26 Jun 2019 OCR decision revealed
26 Jun 2019 Tahi backs motorsport
26 Jun 2019 ANZ cuts rates; will OCR fall again?
26 Jun 2019 Insurers want public education
26 Jun 2019 Consumer and its misguided approach
26 Jun 2019 COMMENT: The compliance struggle
26 Jun 2019 Adviser spin-off 'good news for both sides'
25 Jun 2019 Cigna reveals OnePath changes
25 Jun 2019 Sharemarket extend gains as A2 buoyed by trade data
25 Jun 2019 Fund manager makes appointment
25 Jun 2019 Licensing takes on some of code obligations
25 Jun 2019 Housing market risks for NZ - OECD
25 Jun 2019 Banks scrap sales incentives
25 Jun 2019 Financial Advice NZ disappointed by report
25 Jun 2019 Research tool will expand adviser access to research: Douglas
25 Jun 2019 Mindful Money wants to boost ethical investment
24 Jun 2019 NZ shares outperform Asia on persistent demand for reliable income
24 Jun 2019 Banks scrap sales incentives
24 Jun 2019 It’s not just about mortgage rates
24 Jun 2019 Our new code
24 Jun 2019 900 advisers expected to leave the industry
24 Jun 2019 Reserve Bank orders ANZ reviews
24 Jun 2019 Reserve Bank orders ANZ review; BNZ slashes rates
24 Jun 2019 Fidelity support for nib products continues
24 Jun 2019 Fidelity life continues nib support
24 Jun 2019 Surge in AFA numbers pre-FSLAA
22 Jun 2019 [The Wrap] What's going on at ANZ?
22 Jun 2019 Two new arrivals at Harbour
21 Jun 2019 Former Morningstar man teams up with the old firm
21 Jun 2019 NZ shares gains in heavy trading on quarterly index reweighting
21 Jun 2019 Confidence in commercial running high
21 Jun 2019 ASB and Sovereign cut rates; OCR Preview
21 Jun 2019 nib goes it alone with advisers
21 Jun 2019 Transitional licensing 'a hurdle for small businesses'
21 Jun 2019 OCR Preview: Economists predict rates will hold
20 Jun 2019 Blue-chip shares give up recent gains, Infratil sheds dividend
20 Jun 2019 Sharesies expands
20 Jun 2019 Resimac takes on data entry for advisers; IRD eyes property flippers
20 Jun 2019 Resimac takes over data entry for advisers
20 Jun 2019 Newpark adds to leadership team
20 Jun 2019 AIA offers Vitality to advisers
20 Jun 2019 AMP advisers finally break free from the mother ship
19 Jun 2019 NZX50 hits record; prospect of lower rates drives yield hunt
19 Jun 2019 FSLAA starts June 2020
19 Jun 2019 Inland Revenue to act on PIRs
19 Jun 2019 Homesellers required to provide IRD number
19 Jun 2019 Co-Operative Bank cuts rates; Parents support young buyers
19 Jun 2019 Mint offers new fee option to help advisers
19 Jun 2019 Online advice an opportunity for KiwiSaver: SuperRatings
19 Jun 2019 Entries open for Financial Advice NZ awards
18 Jun 2019 NZ shares gain as investors eye upcoming Fed meeting
18 Jun 2019 Bank of mum and dad backing first home market: Westpac
18 Jun 2019 Transforming commercial investment
18 Jun 2019 Mercer appoints local wealth boss
18 Jun 2019 Prospa builds NZ team; turmoil for ANZ
18 Jun 2019 A Capital Offence
18 Jun 2019 Campaign focuses on emotional connection to promote insurance
18 Jun 2019 Trevor Slater finds new home
18 Jun 2019 Nine business partners signed up for Financial Advice NZ
17 Jun 2019 Prospa adds two New Zealand BDMs
17 Jun 2019 Blue chip stocks weigh market down
17 Jun 2019 Urgent building law reform needed - Goff
17 Jun 2019 Hisco departs ANZ after expenses review
17 Jun 2019 TSB cuts 18 month rate; servicing test concerns
17 Jun 2019 Pace of change stretching industry limits
15 Jun 2019 [The Wrap] A global view of financial planning
14 Jun 2019 US rate uncertainty buoys local blue chips; NZ shares edge higher
14 Jun 2019 Servicing tests to slow house price growth
14 Jun 2019 Regional markets step up the pace
14 Jun 2019 Market rebound coming
14 Jun 2019 Fund classification could trip up investors: Adviser
14 Jun 2019 Shaking the Salt shaker
13 Jun 2019 NZX edges higher: Ebos, Auckland Airport, Mainfreight hit records
13 Jun 2019 Market rebound coming - Westpac
13 Jun 2019 Trade tensions impact global growth
13 Jun 2019 Resimac cuts rates; Prospa lists on ASX
13 Jun 2019 New chief operating officer for Fidelity Life
13 Jun 2019 AFA's robo offering hits $1m FUM
12 Jun 2019 Good day on NZX
12 Jun 2019 Prospa raises more than $100 million
12 Jun 2019 Resimac slashes rates again
12 Jun 2019 COMMENT: Ditching Accommodation Supplement not the answer
12 Jun 2019 Westpac lowers rates; call to license landlords
12 Jun 2019 Sorted denied funding for independent robo offer
12 Jun 2019 NZ shares follow ASX higher on optimism over US trade deal
11 Jun 2019 Chief operating officer for Castle Point Funds
11 Jun 2019 Record low OCR awaits
11 Jun 2019 New Zealanders not protecting themselves
11 Jun 2019 Everett tells insurance companies time's up and regulatory change is coming
11 Jun 2019 Adviser only KiwiSaver product in development
10 Jun 2019 NZ shares fall as Australian holiday saps trading volumes
10 Jun 2019 Economists predict new record low for OCR
10 Jun 2019 Call to license landlords
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