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January 2016
01 Jan 2016 MBIE told consumers can't see advice value
December 2015
31 Dec 2015 Get your business on track for 2016
31 Dec 2015 Christchurch Central: Rising from the rubble
30 Dec 2015 FAA forums
30 Dec 2015 Focus on what's important in 2016
30 Dec 2015 What to look out for in 2016
29 Dec 2015 Housing with a heart
24 Dec 2015 Looking back on 2015
24 Dec 2015 Kauri controversy overlooks property rights
23 Dec 2015 Commercial market growing
23 Dec 2015 Rezoning windfall?
23 Dec 2015 Agreement disputes part of evolution: IFA
23 Dec 2015 IDS hires key industry figures
23 Dec 2015 Zone changes may be windfall for investors
22 Dec 2015 Harbour picks up mandate from AMP
22 Dec 2015 Mortgage lending grows
22 Dec 2015 NZIER economist appointed by wealth management firm
22 Dec 2015 Adviser career path needed
21 Dec 2015 Record breaking migration continues
21 Dec 2015 New proposal for banks off-quarter reporting
21 Dec 2015 Changing future for tenancies
21 Dec 2015 Times are changing
21 Dec 2015 KiwiSaver providers should take better care, Vernon says
21 Dec 2015 Banking on change
18 Dec 2015 Advisers vital for KiwiSaver: Beattie
18 Dec 2015 Muted response to Fed move
18 Dec 2015 Options paper discussed
17 Dec 2015 LendMe rejects fee criticism
17 Dec 2015 Finally
17 Dec 2015 Comcom charges real estate agencies after Trade Me row
17 Dec 2015 Rents on the rise
17 Dec 2015 FMC moves positive for clients: AMP
17 Dec 2015 Advertising of soft-dollar tempters not a good look
16 Dec 2015 Rents hit new high in Auckland
16 Dec 2015 Inflation risks skewed to the downside
16 Dec 2015 New director for Plus4
16 Dec 2015 What tenants want
16 Dec 2015 The Wolf Talks Turkey
16 Dec 2015 Advisers overdue for a pay rise
16 Dec 2015 Deposits to be returned to Springpark buyers
15 Dec 2015 Drop in apartment investment
15 Dec 2015 What tenants really want
15 Dec 2015 Being aware of urban change drivers
15 Dec 2015 Entity licensing benefits no one: Whyte
15 Dec 2015 Rewrites upset investors
15 Dec 2015 Jennings: No commission for replacement business
15 Dec 2015 AMP may wind up fund
15 Dec 2015 Take note of urban change drivers
14 Dec 2015 Regulatory changes slow Auckland market
14 Dec 2015 LendMe fees under question
14 Dec 2015 Active managers must be better...
14 Dec 2015 Retirees an advice opportunity
14 Dec 2015 Comcom examines LendMe fees
11 Dec 2015 Variable annuities get green light
11 Dec 2015 Momentum shifting
11 Dec 2015 Kiwis doubt their financial knowledge
11 Dec 2015 Partners offers mobile tests
11 Dec 2015 Harmoney to launch insurance product
11 Dec 2015 Harmoney to launch insurance product
10 Dec 2015 REINZ data shows market cooling
10 Dec 2015 GFS scoops up adviser awards
10 Dec 2015 National price growth strong
10 Dec 2015 BNZ makes third party distribution appointment
10 Dec 2015 Reluctance to cut may be wrong
10 Dec 2015 Tenancy Tribunal has bite
10 Dec 2015 OCR cut to 2.5%
10 Dec 2015 What the Reserve Bank said today
10 Dec 2015 OCR cut, maybe for final time. Rate cuts started
10 Dec 2015 Associations should step up to help consumers find advisers: Boyle
09 Dec 2015 NZTS deal done
09 Dec 2015 How Much Would You Pay to Live One Year Longer?
09 Dec 2015 What will the RBNZ say?
09 Dec 2015 Bolton: How do investors know P2P right for them?
09 Dec 2015 New chair for NZSF
09 Dec 2015 Cameron: MJW made little difference to FAA options
09 Dec 2015 GST decision could lead to higher fees
09 Dec 2015 Get smoke alarms, insulation sorted
08 Dec 2015 Pro bono work for IFA members
08 Dec 2015 Stephens to retire from Lifetime
08 Dec 2015 New magazine out now: Apartment Living
08 Dec 2015 Advisers ask: Is it fair accountants, lawyers outside law?
07 Dec 2015 Off the plan buys outside LVRs
07 Dec 2015 Oyster's latest offer promises 8.4% return
07 Dec 2015 Warming to responsible investing
07 Dec 2015 End of an era for Fidelity Life chief
07 Dec 2015 Fidelity Life CEO steps down
07 Dec 2015 Industry asks: Is transactional advice relief working?
04 Dec 2015 Mixed predictions for OCR movement
04 Dec 2015 Odds are on an OCR cut
04 Dec 2015 Senior Trust achieves listing
04 Dec 2015 PIMCO platform launches
04 Dec 2015 Harmoney changes fee structures
03 Dec 2015 Whangarei climbing out of Auckland’s shadow
03 Dec 2015 Devon 12th manager to get licence
03 Dec 2015 Health insurance bill defeated
03 Dec 2015 Mixed data seals deal
03 Dec 2015 Pain expected with FAA changes
03 Dec 2015 Grosvenor adds to research team
03 Dec 2015 Fears any new licensing regime will be onerous
02 Dec 2015 New normal threatens RBNZ tactics
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