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October 2018
23 Oct 2018 Draft code “fair” for industry: Mortgage Room’s Fuller
23 Oct 2018 Is commercial the answer?
23 Oct 2018 Portfolio insurance protection explained
23 Oct 2018 FMA lodges robo application number three
22 Oct 2018 How do you get started with moving forward
19 Oct 2018 [The Wrap] Partners Life drops a bombshell
19 Oct 2018 NZ shares fall most across Asia; Z still under pressure
19 Oct 2018 Partners puts stop to offshore conferences
19 Oct 2018 Cooling migration pressure
19 Oct 2018 KiwiBuild extends to Mt Albert
19 Oct 2018 Property funds popular
19 Oct 2018 NZCU Baywide makes policy changes; FMA review of banks coming soon
19 Oct 2018 Code tackles replacement business
19 Oct 2018 FMA conduct review nears completion
19 Oct 2018 Financial adviser numbers 'will drop then reset'
18 Oct 2018 Restaurant Brands soars on takeover talk, but stocks dip
18 Oct 2018 NZCU Baywide aims for first home buyers
18 Oct 2018 Housing affordability improves
18 Oct 2018 Milford's Brian Gaynor talks markets
18 Oct 2018 AMP gets living wage accreditation
18 Oct 2018 FHBs rival investors; Car finance option for advisers
18 Oct 2018 Emotional intelligence key in robo world
18 Oct 2018 Payday lender moves into car finance
17 Oct 2018 A2 calms critics with strong sales
17 Oct 2018 First home buyers pace setters: CoreLogic
17 Oct 2018 Old hand returns to Nikko AM to join fixed income team
17 Oct 2018 COMMENT: Clear the red tape - get 100,000 houses
17 Oct 2018 Coop Bank makes cuts; Minister talks Tax Working Group: Wellington's the place
17 Oct 2018 Capital price gains
17 Oct 2018 Shanks: Consumers don't care how advisers paid
16 Oct 2018 NZ shares fall as Meridian faces declining hydro storage
16 Oct 2018 Inflation to "force" OCR hike
16 Oct 2018 Unlawful tenancies back in Tribunal scope
16 Oct 2018 'Bank of mum and dad' at risk
16 Oct 2018 ANZ CEO defends adviser remuneration
16 Oct 2018 Key themes and conclusions from the past 10 years
16 Oct 2018 Roboadvice offers 'must show value'
15 Oct 2018 NZ shares dip as Fletcher gives up pursuit of Steel & Tube
15 Oct 2018 Sector has to prove its worth
15 Oct 2018 New Code good for mortgage advisers; What do you think?
15 Oct 2018 How much trauma cover?
15 Oct 2018 Small beginnings, big dreams
15 Oct 2018 Draft code “exciting” for mortgage advisers: Shanks
15 Oct 2018 The Code v2 is a shift in thinking
15 Oct 2018 Little progress made on under-insurance, survey shows
14 Oct 2018 NZX expands funds team
13 Oct 2018 Tribunal to adopt Gluckman's meth standard
13 Oct 2018 Financial Advice conference Show One
12 Oct 2018 [The Wrap] Has the Code been cracked? Celebrating success; Market warning
12 Oct 2018 Blue chip stocks drive NZX recovery
12 Oct 2018 Market fall not a bloodbath; Someone’s dropped their latte: NZ Super Fund boss
12 Oct 2018 COMMENT: Reform word games
12 Oct 2018 LVR easing talk grows
12 Oct 2018 Booster best for engagement
12 Oct 2018 Level 5 will be minimum for advisers; KiwiBank talks LVR loosening
12 Oct 2018 Financial planning for the future
12 Oct 2018 Wilson's surprise departure from top job
12 Oct 2018 Code: From complex to simple
11 Oct 2018 NZ shares drop to 4-month low following Wall St rout; A2 slumps 11%
11 Oct 2018 LVR restrictions could be cut by 5%: Kiwibank
11 Oct 2018 Draft code of conduct revealed
11 Oct 2018 Sept sales plummet; Finance Minister talks tax changes
11 Oct 2018 September sales at 7 year low
11 Oct 2018 'Individual' licence suggestion causes concern
11 Oct 2018 Fraud pushes up policies' premiums
10 Oct 2018 Investors remain nervous; Fonterra down
10 Oct 2018 Calls for property management regulation grow
10 Oct 2018 Minister talks tax
10 Oct 2018 Another non-bank targets prime loans; BNZ makes some moves
10 Oct 2018 FNZ in deal worth billions
10 Oct 2018 Basecorp latest non-bank to target prime customers
10 Oct 2018 Advisers hang back from KiwiSaver
09 Oct 2018 NZ shares fall for 7th day as US bond yields hold sway
09 Oct 2018 [GRTV] National Advisers Conference Episode 1
09 Oct 2018 Advice makes key difference to KiwiSaver
09 Oct 2018 COMMENT: What “bad tenant” tales are really saying
09 Oct 2018 What's happening in vehicle finance?
09 Oct 2018 Fund managers 'should back advisers'
09 Oct 2018 NZFSG targets car finance growth
08 Oct 2018 NZX closes at lowest level in a month; Rising US bond yields ripple through Asia
08 Oct 2018 Elevation Capital demands unreasonable: NZX
08 Oct 2018 Harbour adds Multi-Asset specialist
08 Oct 2018 Front-footing change
08 Oct 2018 HSBC does the limbo again
08 Oct 2018 The Dealer Group
08 Oct 2018 Managers not adding value picking asset classes
05 Oct 2018 NZ shares fall as rising yields trim demand; Synlait drops
05 Oct 2018 Kiwibank changes special
05 Oct 2018 New FSLAB timelines; Are KiwiBuild houses good value?
05 Oct 2018 End is nigh for letting fees
05 Oct 2018 Reserve Bank may expand dashboard to insurance
05 Oct 2018 Insurance documents 'too confusing'
05 Oct 2018 NZX stands by funds business
05 Oct 2018 FSLAB regime not expected to fully take hold until mid-2022
04 Oct 2018 A2 still in the dog-box; Genesis, Akl Airport shed dividend rights
04 Oct 2018 Switch at top of Magellan
04 Oct 2018 KiwiBuild discount favours Auckland, Queenstown: CoreLogic
04 Oct 2018 Time for apartment law reform
04 Oct 2018 Harbour builds a new real estate fund
04 Oct 2018 Harbour homes in on real estate
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