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July 2018
24 Jul 2018 Pie Funds joins KiwiSaver market with low fee model
24 Jul 2018 Sovereign top brass take charge at AIA
24 Jul 2018 Nikko appoints new board chair
24 Jul 2018 Mortgage Express adds experience to Auckland office
24 Jul 2018 Blue ink from nib pen
24 Jul 2018 Mortgage groups divided on Code proposals
24 Jul 2018 Managers get benchmark leeway
24 Jul 2018 QuayStreet makes SRI changes
24 Jul 2018 Clients wait longer for income payouts
23 Jul 2018 Former Morningstar boss appointed to lead board
23 Jul 2018 Dealer groups divided on Code
23 Jul 2018 Selling a bit less than ideal
23 Jul 2018 Meth report bombshell: what it means
23 Jul 2018 Bank fund managers 'conflicted on exclusions'
22 Jul 2018 Charles River bought by State Street
20 Jul 2018 [The Wrap] Next round for CWG; Hat tip to group of AFAs; At least sunlight on QFEs
20 Jul 2018 Meeting changing conduct expectations
20 Jul 2018 Research boss moves on
20 Jul 2018 Migration flow lowest since late 2015
20 Jul 2018 Advisers want changes to Code Working Group proposals
20 Jul 2018 Submitters criticise code suggestions
19 Jul 2018 High-charging non-bank lenders revealed
19 Jul 2018 KiwiBuild success would slow market - TMP
19 Jul 2018 ANZ backs group of AFAs
19 Jul 2018 Advisers vindicated in latest report
18 Jul 2018 Small banks growth outpace big banks
18 Jul 2018 QFEs fail on replacement business practices: FMA
18 Jul 2018 Patten on his new role with NZFSG; Co-op rate change
18 Jul 2018 nib partners with Ronald McDonald House
18 Jul 2018 Advisers wouldn't get away with it
18 Jul 2018 Commission model swaps one problem for another: Ballantyne
18 Jul 2018 Patten takes down broking shingle after 16 years
18 Jul 2018 Bank profits under pressure - KPMG
18 Jul 2018 Advisers 'reluctant' to invest in marketing
17 Jul 2018 Soft market due to more than winter chill
17 Jul 2018 Owner-occupiers better protected; Latest house price stats
17 Jul 2018 Q&A with PM Capital CIO Paul Moore
17 Jul 2018 To be or not to be? (A Conglomerate)
17 Jul 2018 Owner occupiers better protected now: RBNZ (+ Report)
17 Jul 2018 Group of AFAs tackles KiwiSaver problems
17 Jul 2018 Ross liquidators: No end in sight
17 Jul 2018 Capital Group signs NZ deal
16 Jul 2018 How automated is your business?
16 Jul 2018 It makes sense to rent
16 Jul 2018 Regulation 'should not drive business structure'
13 Jul 2018 ANZ appoints two Business Development Managers
13 Jul 2018 Govt steps up building programme
13 Jul 2018 Crazy rental plans proposed
13 Jul 2018 Hobson Wealth Partners fills ranks
13 Jul 2018 Consumer feedback 'good reminder'
13 Jul 2018 Flawed rental policy not the answer
12 Jul 2018 Top chair finally filled at Trustees Executors
12 Jul 2018 Rental “fix” plan not realistic
12 Jul 2018 Financial advisers can help boost confidence: FMA
12 Jul 2018 An update on meth standards
12 Jul 2018 Tribunal sticks to existing meth standard
12 Jul 2018 Effective disclosure requires better financial literacy
11 Jul 2018 Real estate agent admits Izone Park fraud
11 Jul 2018 Housing infrastructure loans announced
11 Jul 2018 New chief investment officer for ANZ Investments
11 Jul 2018 The one-bank trap for investors
11 Jul 2018 Proposed commission model 'cross-subsidisation'
11 Jul 2018 Time for 'green' classification system
10 Jul 2018 TSB heroes 18-month rate
10 Jul 2018 Chill Out, it’s Just a Stress Test
10 Jul 2018 [GRTV] Index funds 'saving millions in fees'
10 Jul 2018 [GRTV] The case for index funds
09 Jul 2018 [GRTV] The case for index funds
09 Jul 2018 Potential payday for purchasers of Tower book
09 Jul 2018 Another DIMS licence granted
09 Jul 2018 [GRTV] Meet Financial Advice NZ CEO Katrina Shanks
09 Jul 2018 TSB reveals new CEO
09 Jul 2018 Inner Auckland rising star
09 Jul 2018 Loan Market reveals settlement numbers
09 Jul 2018 Did the Australian Royal Commission change everything? Or had everything changed already?
09 Jul 2018 Avoid the one bank trap
09 Jul 2018 Financial Advice NZ's next challenge: Everyone else
06 Jul 2018 Loan Market numbers revealed; New Jobs section now live; AIA finally gets hold of Sovereign
06 Jul 2018 Loan Market settles record amount
06 Jul 2018 New alliance to up property manager standards
06 Jul 2018 Auld takes advice role
06 Jul 2018 Fiducian: Outsource manager selection, improve service for clients
05 Jul 2018 ASB predicts “mild” OCR increase
05 Jul 2018 Unregistered insurance adviser avoids prison
05 Jul 2018 The latest on Kiwibuild
05 Jul 2018 New chair for Financial Advice NZ certification body
05 Jul 2018 New advice rules to consider trail commissions
04 Jul 2018 Kiwibuild eligibility criteria revealed
04 Jul 2018 Mortgage Express targets China with Auckland hire
04 Jul 2018 SuperCity market down but not out
04 Jul 2018 TSB appoints new chief executive
04 Jul 2018 Tax working group agrees property fairly taxed
04 Jul 2018 Winter chill settles on market
04 Jul 2018 Tax Working Group agree property fairly taxed
04 Jul 2018 Sector exclusions lazy CIO says
04 Jul 2018 Winter chill settles on market
03 Jul 2018 Cigna rebrands to target the young
03 Jul 2018 Call for even greater commission disclosure; New role for Bailey
03 Jul 2018 New PIGS, the CANNS or SNACZ?
03 Jul 2018 Auckland listings plummet
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