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July 2015
15 Jul 2015 Trail commission rules blamed for churn
15 Jul 2015 Review should consider how to attract advisers
15 Jul 2015 Abandoned tenancy process on the fast track
14 Jul 2015 NZ Super Fund hands out mandate
14 Jul 2015 More cuts
14 Jul 2015 Fidelity boosts claims team
14 Jul 2015 Call to require all advisers to live by Code
13 Jul 2015 Are buyers starting to look out of Auckland?
13 Jul 2015 Defensive stocks overpriced
13 Jul 2015 Portugese investment not misguided: Orr
13 Jul 2015 Unreliable data won’t help foreign buyer issue
13 Jul 2015 Tax experts speak out
10 Jul 2015 Cold houses - hot issue
10 Jul 2015 Adviser firms need to evolve for the future: Page
10 Jul 2015 Long-timer moves on from NZ Super Fund
10 Jul 2015 Mixed response to new tenancy law
09 Jul 2015 Gong for Kiwi Wealth
09 Jul 2015 Second independent director Minted
09 Jul 2015 New law means insulation, smoke alarms required in rentals
09 Jul 2015 Still reasons for kids to join KiwiSaver: ANZ
09 Jul 2015 QFE models needed former regulator says
09 Jul 2015 The RBNZ easing cycle begins
09 Jul 2015 Is Auckland’s supply problem being addressed?
08 Jul 2015 Westpac loosens up apartment lending rules
08 Jul 2015 ANZ rolls out new special
08 Jul 2015 QROPS ringfencing won't be easy
08 Jul 2015 Scrap designations and replace with advisers and sales people
07 Jul 2015 The G cracks the big B mark
07 Jul 2015 Falling business confidence points to... OCR cuts
07 Jul 2015 Westpac calls for lots of OCR cuts
07 Jul 2015 Obituary - Bob Edwards
07 Jul 2015 Advisers may miss their chance: Cortesi
07 Jul 2015 Nikko keeps global equity focus
07 Jul 2015 Sovereign confirms Select sale
07 Jul 2015 Seven top tips from a property rock star
06 Jul 2015 Milford clients jump ship
06 Jul 2015 Stanley moves to sharebroker
06 Jul 2015 Westpac predicts three more OCR cuts this year
06 Jul 2015 FMA: Settlement gives investors more
06 Jul 2015 FMA targets investor knowledge
06 Jul 2015 Home unaffordability breaks records in Auckland
06 Jul 2015 Gap between Auckland prices & rents not sustainable
05 Jul 2015 Why Dealer Group QFEs isn't a far-fetched idea
03 Jul 2015 Could Auckland’s property market be slowing?
03 Jul 2015 Big bank bags Bailey
03 Jul 2015 What is the problem the FAA is trying to fix?
03 Jul 2015 ASB ditches TVs and stereos for AB gear
03 Jul 2015 Advice is about relationships, not legislation
03 Jul 2015 “Auckland effect” starts spreading
02 Jul 2015 General Finance experiencing good growth
02 Jul 2015 Thomas mints mandate with Super Fund
02 Jul 2015 Auckland values over 30% higher than previous peak
02 Jul 2015 Holy cow....more interest rate cuts predicted
02 Jul 2015 Falling dairy prices to prompt OCR cuts
02 Jul 2015 Questions to ask fund managers
01 Jul 2015 National average asking price up
01 Jul 2015 Commodity producers face a difficult year
01 Jul 2015 Mini lending boom well underway
01 Jul 2015 Please Sir, Can I borrow more
01 Jul 2015 Dealer groups should be QFEs
June 2015
30 Jun 2015 UDC gets new boss
30 Jun 2015 NZX buys wrap service
30 Jun 2015 ANZ's head of channel moves on
30 Jun 2015 New “bright line” test rules clarified
30 Jun 2015 IFA to take part in global survey
30 Jun 2015 Fall in Auckland building consents
29 Jun 2015 Coplestone becomes new disciple
29 Jun 2015 Social housing programme open to overseas buyers
29 Jun 2015 TSB's turn
29 Jun 2015 The numbers BNZ are disclosing
29 Jun 2015 QROPS now trapped in KiwiSaver funds
29 Jun 2015 Bountiful pickings in fruit bowl for canny investors
27 Jun 2015 Churn debate: Sovereign has nothing to add
26 Jun 2015 Get better information from your fund manager: Berry
26 Jun 2015 People behind FAA review changing
25 Jun 2015 Senior NZ Super Fund manager departs
25 Jun 2015 Dealer groups should be QFEs
25 Jun 2015 Churn debate: Underinsurance the issue, not commissions
25 Jun 2015 Churn debate: Australia moves to hybrid remuneration model
25 Jun 2015 Kepa starts on wealth management
25 Jun 2015 No screams and howls on IP, but some concerns
25 Jun 2015 Competitive pricing puts pressure on bank margins
25 Jun 2015 How to become a first-class adviser
25 Jun 2015 Don’t under estimate the IRD
24 Jun 2015 Banks net interest income falls - PwC
24 Jun 2015 Will rates increases add impetus to Auckland’s rising rents?
24 Jun 2015 Income Protection unsustainable and rule book rewritten
24 Jun 2015 SBS finally moves - and what a move
24 Jun 2015 FMA tipped to crack down on more managers
23 Jun 2015 KiwiSaver members urged to ponder asset allocation
23 Jun 2015 RAM investor must return fictitious profit
23 Jun 2015 New property tax rules move a step closer
23 Jun 2015 BNZ joins the sub-five group
23 Jun 2015 Littlewood retires as Co-Director of RPRC
23 Jun 2015 Act not serving consumers
23 Jun 2015 Milford status reviewed
23 Jun 2015 AIA reports profit growth
22 Jun 2015 Showtime: Big banks v smaller lenders
22 Jun 2015 "Adviser" sentenced for theft
22 Jun 2015 Milford action should boost confidence: NZSA
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