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Clear Filter
March 2017
23 Mar 2017
Partners gets an upgrade from AM Best
23 Mar 2017
BNZ adopts ethical screen on investments
23 Mar 2017
Reaction: OCR - 'Nothing to see here'
23 Mar 2017
OCR decision: 'Nothing to see here'
23 Mar 2017
OCR left on hold: Here's why
23 Mar 2017
What the RB governor said
23 Mar 2017
OCR left on hold: Here's why
23 Mar 2017
JBWere appoints adviser
23 Mar 2017
Dodds: All Blacks must be better than club rugby
23 Mar 2017
Government 'suffocating' peer-to-peer
23 Mar 2017
Ethical fund set for ASX wants Kiwi money
22 Mar 2017
All quiet in lead up to tomorrow's OCR announcement
22 Mar 2017
Generate adds senior portfolio manager
22 Mar 2017
MBIE: Tell us what's better than FAR
22 Mar 2017
Bright line test dents flipping
21 Mar 2017
Migration driver powers on
21 Mar 2017
Improve urban development in NZ - OECD
21 Mar 2017
AIA New Zealand appoints new CEO
21 Mar 2017
KiwiSaver transfer lags a concern
21 Mar 2017
HFANZ: Health costs need attention, too
21 Mar 2017
AMP Capital drops tobacco
20 Mar 2017
Newpark appoints national sales manager
20 Mar 2017
Fidelity adds sales boss
20 Mar 2017
Three rises from SBS
20 Mar 2017
Getting to grips with body corporates
19 Mar 2017
Future returns may be half what investors used to: Singh
19 Mar 2017
First landlord conviction under new tenancy law
17 Mar 2017
Next to no chance of OCR cut
17 Mar 2017
Bold move equals big success
17 Mar 2017
Friday news in brief
17 Mar 2017
FMA files charges over insurance policies
17 Mar 2017
ANZ makes just one change
17 Mar 2017
No monitoring team, no plan for AFAs: FMA
17 Mar 2017
Rent for “typical” NZ house hits all-time high
16 Mar 2017
New fire regs costly, complex for investors
16 Mar 2017
Fed lifts interest rate
16 Mar 2017
Code Committee voices objections
16 Mar 2017
Timing key for contrarian investing
15 Mar 2017
Give tenants greater security - TOP
15 Mar 2017
Agents to 'bid' for new property listings
15 Mar 2017
Negative gearing to go...under Labour
15 Mar 2017
Labour: Support for regulation change
15 Mar 2017
Decline in price growth optimism
14 Mar 2017
Negative gearing to go under Labour
14 Mar 2017
Let's get these adviser rules right
14 Mar 2017
TSB raises rates
14 Mar 2017
White takes top AMP prize again
14 Mar 2017
Clients' retirement can be ruined by one bad year
13 Mar 2017
Hunter Hall to tell shareholders to back merger
13 Mar 2017
Are you being double-taxed?
13 Mar 2017
Auckland house prices down - again
13 Mar 2017
Nikko appointments new Head of Product and Operations
13 Mar 2017
Trump & The Outlook US Profits
13 Mar 2017
Warminger's trial shows traders' purpose important
13 Mar 2017
They don’t start out caring, making them care is our job
13 Mar 2017
Market flat line continues
10 Mar 2017
What have we learnt this week?
10 Mar 2017
Bridging the finance gap
10 Mar 2017
QROPS providers surprised by tax change
10 Mar 2017
Consumers 'deserve clarity'
10 Mar 2017
REAA gets tough on flipping
09 Mar 2017
Smaller options drive February rebound
09 Mar 2017
Apartments lead the way for Christchurch
09 Mar 2017
Bringing clarity to meth drug haze
09 Mar 2017
Managers pay up for licenses
08 Mar 2017
Share adds advisers
08 Mar 2017
FSC welcomes super move
08 Mar 2017
Auckland affordability a credit negative - Moodys
08 Mar 2017
More changes
08 Mar 2017
FMA: No hard lines on KiwiSaver incentives
08 Mar 2017
Pension age change a minor hiccup for advice clients
08 Mar 2017
Fringe areas approved for urban growth
08 Mar 2017
Illegal renting charge for Molesworth landlord
08 Mar 2017
Insurer tackles meth contamination confusion
07 Mar 2017
KiwiSaver feels hit of rising interest rates
07 Mar 2017
New chairman for Fidelity
07 Mar 2017
DTIs should be in RBNZ toolkit - IMF
07 Mar 2017
Partners to write business without underwriting
07 Mar 2017
Election 2017: what investors need to know
07 Mar 2017
Kiwibank follows suit but still competitive
07 Mar 2017
Risky masonry streets identified
07 Mar 2017
Advice stalwart farewelled
07 Mar 2017
Advisers must add value in digital future
07 Mar 2017
Robo development under way
06 Mar 2017
Super age to rise
06 Mar 2017
Stubbs_Sam
06 Mar 2017
Airbnb sub-letting breaches RTA – Tribunal
06 Mar 2017
Consents trending down
06 Mar 2017
ANZ takes floating rates higher
06 Mar 2017
US rate rise likely this month
06 Mar 2017
Low-cost model better for advisers: Simplicity
06 Mar 2017
Elevation signs Australian deal
03 Mar 2017
Court says Warminger manipulated the market
03 Mar 2017
Limited action at lower end of market
03 Mar 2017
Time to invest in Auckland Central
03 Mar 2017
Study options 'discriminatory'
03 Mar 2017
MBIE missed the mark
02 Mar 2017
Renfrew's firm joins Consilium platform
02 Mar 2017
Auction rates reflect quieter market
02 Mar 2017
OCR could go either way, RBNZ says
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Latest News
Pie Funds enters adviser channel
3 min read
KiwiSaver members need more advice at retirement, panellists say
3 min read
Simon Papa: Access to advice - Is adviser conservatism the issue?
9 min read
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