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April 2018
26 Apr 2018 Important update for mortgage advisers
26 Apr 2018 New CEO for Kiwibank
26 Apr 2018 Scope versus advice
26 Apr 2018 An enquiry? Careful what you wish for
24 Apr 2018 Tax policy could heighten rental crisis
24 Apr 2018 Migration trend continues to ease
24 Apr 2018 Advisers invited to join Financial Advice NZ
24 Apr 2018 The Code – Issues for advisers (Part Two)
23 Apr 2018 Good catch for Fishers
23 Apr 2018 Mixed sustainability report card for NZ
23 Apr 2018 Advisers need to lift their game to help clients
23 Apr 2018 Making the switch
23 Apr 2018 [Opinion] The future of advice is at risk
23 Apr 2018 Kiwibank slashes rates
23 Apr 2018 New rules for term deposits
22 Apr 2018 nib adds free travel insurance
20 Apr 2018 RBNZ changes its mind on LVRs
20 Apr 2018 LVR a “permanent tool”: RBNZ Governor
20 Apr 2018 Time to tackle asbestos
20 Apr 2018 Heads roll at AMP Australia
20 Apr 2018 Property investors returning; Degrees for mortgage brokers
20 Apr 2018 Degree 'not the answer to industry's problems'
19 Apr 2018 FMA probes performance fees
19 Apr 2018 Property investors “bounce back” in February: ANZ
19 Apr 2018 Tenant damage liability changes unfair
19 Apr 2018 Rate cuts; Old, new face returns to the industry
19 Apr 2018 Sovereign makes product changes
19 Apr 2018 Faafoi considering complaints
18 Apr 2018 Colonial First State set for IPO
18 Apr 2018 LifeDirect taps into Hugo
18 Apr 2018 Mortgage People founders launch online brokerage
18 Apr 2018 Quotemonster branches into advice
18 Apr 2018 [GRTV] The future of insurance commissions
18 Apr 2018 Kepa takes stake in member business
18 Apr 2018 Tenant damage liability: the Select Committee speaks
18 Apr 2018 [Opinion] RFAs missing in action
18 Apr 2018 NZ Funds launches latest fintech tool for advisers
18 Apr 2018 Regan: AMP's conduct unacceptable
18 Apr 2018 [GRTV] KiwiSaver
17 Apr 2018 FMA ponders PDS in Te Reo
17 Apr 2018 Huxford keen to stay in ANZ role
17 Apr 2018 Super City market stagnates
17 Apr 2018 Time to get climbing?
17 Apr 2018 The Code – issues for advisers (Part One)
16 Apr 2018 What's a Comm Games gold medal (or two) worth?
16 Apr 2018 Rent rise no surprise
16 Apr 2018 Core Finance relaxes lending criteria
16 Apr 2018 Invercargill property magnate
16 Apr 2018 Partners records best year ever
16 Apr 2018 [GRTV] Special Episode: Minister discusses adviser reforms, commission and KiwiSaver
16 Apr 2018 [GRTV] Faafoi responds to CWG criticism
16 Apr 2018 Low turnout doesn't mean RFAs' heads in sand: Group
13 Apr 2018 Wealth Technologies challenges for NZX
13 Apr 2018 Mortgage advisers need to address the code
13 Apr 2018 Auckland shortage to get worse
13 Apr 2018 Goppy returns
13 Apr 2018 Millennials turn to Kiwisaver for home deposits
13 Apr 2018 Accuro disrupted
13 Apr 2018 Two week lull ends
13 Apr 2018 Fees eroding risk premium: Researchers
12 Apr 2018 RBNZ: new PTA an “evolution”
12 Apr 2018 IFA member takes BDM role
12 Apr 2018 Code proposals 'baloney'
11 Apr 2018 ANZ increases servicing rate for loans
11 Apr 2018 Buyer demand cooling
11 Apr 2018 Time to talk tax
11 Apr 2018 Investors: PDS still too complicated
11 Apr 2018 Fidelity: Incentives regime changing
10 Apr 2018 Make commission details publicly available: MBIE
10 Apr 2018 Make commission details publicly available: MBIE
10 Apr 2018 SME owners lack income protection
10 Apr 2018 Opportunities in SuperCity CBD market lull
10 Apr 2018 Pie Funds plans to extend advice team
10 Apr 2018 Multilingual adviser joins top firm
10 Apr 2018 Electronic loan lodgement inches close
10 Apr 2018 Bank mortgage adviser joins Auckland team
10 Apr 2018 First woman president for NZPIF
10 Apr 2018 NZ Funds: Cheaper might mean less responsible
10 Apr 2018 Warning: Time crunch coming for advice sector
10 Apr 2018 Claims – the case for applying
10 Apr 2018 FMA lacking ability to fine
09 Apr 2018 Tech firm to visit NZ ahead of electronic lodgement launch
09 Apr 2018 New head of group risk for Fidelity Life
09 Apr 2018 Don’t neglect tenant safety
09 Apr 2018 Meth contamination demystified
09 Apr 2018 Milford sees more opportunities in NZ market
09 Apr 2018 Overrides' future hazy
06 Apr 2018 The Wrap: Unofficial QSMs; Formal CWG complaint lodged: Will anyone follow AMP?
06 Apr 2018 [Opinion] Let’s embrace the spotlight and talk about trust
06 Apr 2018 NZ customers more "satisfied" with local banks
06 Apr 2018 ANZ: first time buyers are back
06 Apr 2018 New business development manager for Consilium
06 Apr 2018 Mortgage brokers expanding
06 Apr 2018 No complaints about working group
05 Apr 2018 New appointment to lead Pinnacle
05 Apr 2018 SuperCity March sales at 8 year low
05 Apr 2018 AMP: No more overseas trips
05 Apr 2018 Simplicity wades into Smartshares territory
05 Apr 2018 City markets take value growth hit
05 Apr 2018 QSM not getting royal welcome yet
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