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September 2015
04 Sep 2015 Milford must work harder for performance fees
04 Sep 2015 ISO is no more
03 Sep 2015 Is A Global Recession Approaching?
03 Sep 2015 What is going on with Auckland’s prices?
03 Sep 2015 Perpetual Guardian makes appointments
03 Sep 2015 Guilty verdict in mortgage fraud case
03 Sep 2015 Partners puts off listing
03 Sep 2015 AFA market loses more than 100 advisers in a year
02 Sep 2015 NZ ranked 5th in global house price index
02 Sep 2015 State house sales move closer
02 Sep 2015 Sky City issues bonds
02 Sep 2015 Salt eyes advisers
01 Sep 2015 Dobson won't be replaced
01 Sep 2015 Vertical fund businesses – a broken model?
01 Sep 2015 Auckland values up 20%+ on last year
01 Sep 2015 Withholding tax planned for overseas sellers
01 Sep 2015 Hubbard investors' capital returned
01 Sep 2015 Appetite for annuities
01 Sep 2015 MDRT chair replaced
August 2015
31 Aug 2015 Greville mourned
31 Aug 2015 Kerr steps down
31 Aug 2015 Nikko picks up mandate
31 Aug 2015 RBNZ policy tweak “gamechanger” for Auckland’s supply woes
31 Aug 2015 Building consents hit 10-year high
31 Aug 2015 Today’s consumer can be hard work
31 Aug 2015 AML deadline looms
30 Aug 2015 Apteryx sale complete
30 Aug 2015 FMA urges KiwiSaver check-up
30 Aug 2015 McGuffie date set
29 Aug 2015 Will China’s share market meltdown impact on NZ’s property market?
28 Aug 2015 Two advisers investigated
28 Aug 2015 Kiwibank plans digital future
28 Aug 2015 New Zealand lagging on decumulation options
27 Aug 2015 Facebook trouble for Newland
27 Aug 2015 Major rental changes in Green Bill
27 Aug 2015 New broker boss at ANZ
27 Aug 2015 Former Mike Pero broker banned
27 Aug 2015 FSC: KiwiSaver delivering for middle NZ
27 Aug 2015 Mount appeals again
26 Aug 2015 OCR reviewed less often
26 Aug 2015 Portfolios, not products the key: James
26 Aug 2015 Queenstown: NZ's Boom Town
26 Aug 2015 Bright line test one step closer
25 Aug 2015 nib plots more growth
25 Aug 2015 Blaming investors not the answer
25 Aug 2015 RFAs not impressed by push for one standard
25 Aug 2015 Skip Auckland, investors urged
24 Aug 2015 How to programme your investments for success
24 Aug 2015 Investors increasing Auckland price pressure – RBNZ
24 Aug 2015 Quarter of AMP's profit now from wealth management
24 Aug 2015 Southall moved from review
24 Aug 2015 Fidelity cool on annuity request
21 Aug 2015 Record high migration adds to housing pressure
21 Aug 2015 OPI/MFS directors plead guilty
21 Aug 2015 LVR restrictions tweaked
21 Aug 2015 Funds for fee-conscious customers
20 Aug 2015 Intensification plans: Auckland Council speaks out
20 Aug 2015 Smee leaves Kepa role
20 Aug 2015 Whyte: Commission isn't the problem
20 Aug 2015 nib backs health insurance bill
20 Aug 2015 QROPs rules snag NZ advisers
19 Aug 2015 Rental market stalls nationwide
19 Aug 2015 Milford gets DIMS licence
19 Aug 2015 Kiwis' billion-dollar safety net
19 Aug 2015 How to avoid a negligence case
18 Aug 2015 RAM clawback notices issued
18 Aug 2015 Sovereign gets Rainbow Tick
18 Aug 2015 Property prices to blame for S&P downgrade
18 Aug 2015 Harbour appoints analyst
18 Aug 2015 What could intensification mean for investors?
18 Aug 2015 Time to brace clients for end of golden returns
18 Aug 2015 Four legged tenants: the low down
17 Aug 2015 Suprising new marketing techniques
17 Aug 2015 SBS sharpens specials
17 Aug 2015 NZ faces rising financial system risks – S&P
17 Aug 2015 Bad times are gone: Dodds
14 Aug 2015 FMA tells managers about misconduct risks
14 Aug 2015 NZHL appoints new CEO
14 Aug 2015 Former Mike Pero adviser in court
14 Aug 2015 Westpac's turn today
14 Aug 2015 Call to back health insurance bill
14 Aug 2015 Slater steps down
14 Aug 2015 Advisers slow to switch on to responsible investing: RIAA
13 Aug 2015 No plans for trail from ASB
13 Aug 2015 South of Neutral OCR?
13 Aug 2015 Auckland median price down, national median price up
13 Aug 2015 ASB talks home loans; TSB cuts rates
13 Aug 2015 Home loan lending takes lower prominence at ASB
13 Aug 2015 AIA number one at MDRT
13 Aug 2015 Retirement planning has to start somewhere: FMA
13 Aug 2015 Ross test case driven by unfairness
12 Aug 2015 Super Fund gets responsible investing nod
12 Aug 2015 Auckland construction key to economic growth
12 Aug 2015 The Co-Op Bank's turn today
12 Aug 2015 Retirees have low risk tolerance but high expectations
11 Aug 2015 New Aussie tax rules affect Kiwi investors
11 Aug 2015 Interesting move from ASB
11 Aug 2015 Advisers offer free service
10 Aug 2015 CPD turned into game
10 Aug 2015 Barnes hands over chief executive role
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.
1 week 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