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August 2017
30 Aug 2017 Boost for fixed interest fund
30 Aug 2017 Insurance pain for landlords ahead
30 Aug 2017 KiwiSaver members don't understand MTC
30 Aug 2017 FMA outlines plans - has eyes on advisers
29 Aug 2017 Council urged to pause on making WOF compulsory
29 Aug 2017 FMA wins settlement for finance company investors
29 Aug 2017 Rents rise in Wellington - & Christchurch
29 Aug 2017 Under-active RFAs may drop out
28 Aug 2017 Commitment to help advisers with new regs - NZFSG
28 Aug 2017 Quantitative investment styles, and when they perform
28 Aug 2017 Nagging and the definition of ‘financial advice’
28 Aug 2017 Two-year cut labelled pre-Election Special
28 Aug 2017 Affordability growing in West Auckland
28 Aug 2017 AIA expands cancer benefit reach
28 Aug 2017 Sharesies ponders advice offer
27 Aug 2017 Trade Me: We still back LifeDirect
25 Aug 2017 Commission files Harmoney proceedings
25 Aug 2017 Softer market better time to buy
25 Aug 2017 Getting to Know: Reagan Bax
25 Aug 2017 Adviser wants 'gold standard' for industry
25 Aug 2017 Newpark considers being a licensed dealer group
25 Aug 2017 Investor lending exodus
25 Aug 2017 House price expectations plummet
24 Aug 2017 NZX's Apertyx yet to take full flight
24 Aug 2017 Newpark stacks its board with well-known people
24 Aug 2017 Human rights body slams tenant damage changes
23 Aug 2017 No fine for QROPS adviser who breached code
23 Aug 2017 Expect negative impact from regulation overload
23 Aug 2017 Remarkable adds and subtracts managers
23 Aug 2017 Industry demands details
23 Aug 2017 OnePath sale may be getting close
22 Aug 2017 Bank boss resigns
22 Aug 2017 Bank boss resigns
22 Aug 2017 Where to for LVRs?
22 Aug 2017 Year-on-year price growth still strong
22 Aug 2017 nib grows market share and distribution
22 Aug 2017 Chaotic election not necessarily bad news for investors
22 Aug 2017 Documents shorter but still dense
21 Aug 2017 Perpetual Guardian appoints from Sovereign
21 Aug 2017 Barramundi skinned in market
21 Aug 2017 LVRs are not going anywhere
21 Aug 2017 The housing market driver that’s not going away
21 Aug 2017 One four year fall
21 Aug 2017 The global economy: weak household incomes constrain outlook
21 Aug 2017 Taking care of business
21 Aug 2017 Devon grabs high profile CIO from bank
21 Aug 2017 Managers issue risk warning
20 Aug 2017 Strategi launches KiwiSaver course
20 Aug 2017 Mercer makes board appointment
18 Aug 2017 Politicians due to speak at conference
18 Aug 2017 No end in sight for LVRs
18 Aug 2017 Getting to Know: Peter Neilson
18 Aug 2017 One little change
18 Aug 2017 Solid result from AMP
18 Aug 2017 Good start with KiwiSaver, but growth yet to come
18 Aug 2017 Pro-bono work recognised
17 Aug 2017 Former Navy captain to steer Newpark into the future
17 Aug 2017 NZPIF opposes Wellington rental WOF
17 Aug 2017 Court sides with i-Select
17 Aug 2017 Suddenly two-year rates get interesting
17 Aug 2017 Clients might need a bonds brush-up
16 Aug 2017 Health insurance claims double in a decade
16 Aug 2017 Affordability better for renters
16 Aug 2017 DTIs dead in the water; Co-op Bank lowers rates
16 Aug 2017 New legislation may give advice industry new life
16 Aug 2017 PM rules out DTI ratio idea
16 Aug 2017 DTI cull good news for property investors
15 Aug 2017 New executive director for Harbour
15 Aug 2017 Stalling market no reason to panic
15 Aug 2017 Super Fund: Carbon risk under-priced
15 Aug 2017 QFEs get licensing head-start
14 Aug 2017 ANZ appoints debt market director
14 Aug 2017 DTIs “perversely restrictive” for investors – report
14 Aug 2017 Political risk – New Zealand next?
14 Aug 2017 nib First Choice network
14 Aug 2017 Working group lays out plans
14 Aug 2017 FNZC launches private investment channel
14 Aug 2017 Regional rentals yield lifestyle dream
12 Aug 2017 GRTV Ep3: Code working group; the value of opening up to your clients; and risk advice upheaval
11 Aug 2017 Big week for ASB
11 Aug 2017 Westpac appoints acting head of third party banking
11 Aug 2017 Call for LVR review as sales plunge
11 Aug 2017 Getting to Know: Binu Paul
11 Aug 2017 ASB, Bank Direct and Sovereign move down
11 Aug 2017 Some active managers delivering little for fee: Report
10 Aug 2017 NZCU Baywide clicks over a milestone mark
10 Aug 2017 Mortgage Express and Q Advisor groups join together
10 Aug 2017 Sovereign for sale but who will buy?
10 Aug 2017 No dovish nod to future for RBNZ
10 Aug 2017 Magellan plans list global trust
10 Aug 2017 OCR unchanged: Details here
10 Aug 2017 OCR and MPS: What the Governor said
10 Aug 2017 Financial Advice NZ? Wait and see
10 Aug 2017 Thursday news in brief
09 Aug 2017 ASB lauds fixed rate rollovers
09 Aug 2017 Dale-Jones happy with Code Working Group
09 Aug 2017 Get basics right: Ballantyne
09 Aug 2017 Start dating your clients
09 Aug 2017 Dale-Jones: Judge us on our transparency
09 Aug 2017 Start dating your clients
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