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April 2017
13 Apr 2017 Lower prices mean budget squeeze
13 Apr 2017 Reigns handed over at Westpac – again
13 Apr 2017 Getting to Know: Rod Severn
13 Apr 2017 Thursday news in brief
13 Apr 2017 Platforms vie for adviser FUM
12 Apr 2017 Build more bloody houses - Little
12 Apr 2017 Broker concerns referred to FMA
12 Apr 2017 Interest-only loans under the spotlight
12 Apr 2017 Call for crackdown on tax disclosure requirements
11 Apr 2017 FMA asks: How should KiwiSaver fees be calculated?
11 Apr 2017 Interest-only loans come under the spotlight
11 Apr 2017 Changing times for interest rate setting
11 Apr 2017 Don't look to new grads to boost industry
10 Apr 2017 Hunter Hall Global Value fund trading again
10 Apr 2017 Kiwibank chairman stands down
10 Apr 2017 New CEO for NZX
10 Apr 2017 Final price fixing defendants get $1.5m fine
10 Apr 2017 Rate rises not prompting action
10 Apr 2017 Stop tarring investors with speculator brush
10 Apr 2017 Unlocking the gold in your client base…
10 Apr 2017 Mortgage advisers miss an opportunity
10 Apr 2017 Major changes for Reserve Bank?
10 Apr 2017 Landlords on notice - MBIE
10 Apr 2017 Beware a 2019 recession
10 Apr 2017 NZ’s hottest suburbs: highest yield locations exposed
10 Apr 2017 Shareholders chip in
10 Apr 2017 Financial Advice plan to be revealed next month
09 Apr 2017 Accuro launches kids policy
09 Apr 2017 FSC makes appointments
07 Apr 2017 Shortfall to get worse before it gets better
07 Apr 2017 Are Kiwi firms blinded by fintech start-ups?
07 Apr 2017 Surprise, surprise. Rates fall
07 Apr 2017 Getting to Know: David Whyte
06 Apr 2017 Auckland no longer least affordable
06 Apr 2017 New chair and deputy for Accuro
06 Apr 2017 Lending growth will slow – S&P
06 Apr 2017 The mortgage rate creep continues
06 Apr 2017 Ready for Bretirement?
06 Apr 2017 Spotlight on emerging tech and financial markets
06 Apr 2017 Apartment attraction on the rise
06 Apr 2017 Thursday news in brief
06 Apr 2017 Advisers can work with many entities: MBIE
06 Apr 2017 Reserve Bank reviews insurance rules
05 Apr 2017 Auckland market different now – B&T
05 Apr 2017 Shallow LVR effect likely - QV
05 Apr 2017 Milford Asset Management gets new advice head
05 Apr 2017 Research shows benefit of advice
05 Apr 2017 Advice firms give up on pursuing restraint of trade cases through court
04 Apr 2017 AMP Capital launches fund with focus on absolute return
04 Apr 2017 Challenging times for credit unions
04 Apr 2017 Bubble risk for halo regions
04 Apr 2017 Rate hikes continue to trickle through
04 Apr 2017 New Simplicity Investment Funds could save Kiwis $1/2 billion annually in fees
04 Apr 2017 PAA: Draft bill essentially 'demoting the AFAs'
04 Apr 2017 New role for Fidelity man
04 Apr 2017 Mortgage Express, Q Advisor Group signal closer ties
03 Apr 2017 Warminger appeals High Court ruling
03 Apr 2017 Tackle restrictions on development - report
03 Apr 2017 Investors' learned behaviour in need of revision?
03 Apr 2017 The Co-Op Bank now pricing loans on risk
03 Apr 2017 Dunedin experiencing growth
03 Apr 2017 ANZ to refuse handwritten applications
03 Apr 2017 Industry rallies to make its voice heard
01 Apr 2017 Auckland property listings jump up
March 2017
31 Mar 2017 Top 10 value adding renovation tips
31 Mar 2017 HSBC's turn today
31 Mar 2017 Risk based pricing for Co-op Bank personal loans
31 Mar 2017 Getting to Know: Michael Dowling
31 Mar 2017 ASIC review calls for commission overhaul
31 Mar 2017 Flat line in consents continues
30 Mar 2017 Eagerly awaited meth standard delayed
30 Mar 2017 New fire levy rates announced
30 Mar 2017 Thursday news in brief
30 Mar 2017 Synergy launches SRI portfolios
30 Mar 2017 Young women take up advice posts
29 Mar 2017 Market slowdown different this time
29 Mar 2017 Revamp planning system, end crisis
29 Mar 2017 SBS raises floating rate
29 Mar 2017 FARs - where's the accountability?
28 Mar 2017 AIA offers bolt-on cancer drug cover
28 Mar 2017 Investor confidence remains high across most of NZ
28 Mar 2017 No submission but Financial Advice NZ 'active' on new rules
28 Mar 2017 Older people priced out of insurance
27 Mar 2017 NZ Funds drops Wellington investment
27 Mar 2017 OCR predictions; Mortgage adviser survey
27 Mar 2017 Responsible Investing Part Two: implications for everyone in financial markets
27 Mar 2017 More AFAs and Govt eyeing ways to keep them
27 Mar 2017 New cash rules 'no big deal for advisers'
27 Mar 2017 McEwan gets top Massey honour
24 Mar 2017 Want to develop the new code?
24 Mar 2017 AMP offers zero fees
24 Mar 2017 Address Auckland infrastructure issues
24 Mar 2017 AIA appoints Golden Boots as global ambassador
24 Mar 2017 Tenant magnetism: top 10 tips
24 Mar 2017 What keeps mortgage advisers awake at night?
24 Mar 2017 Friday news in brief
24 Mar 2017 PIE Funds reopens soft-closed fund
24 Mar 2017 Getting to Know: Rosemary Hassan
23 Mar 2017 Law change won't redraw boundaries
23 Mar 2017 Deadline needed for clean default schemes: Greens
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