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June 2015
22 Jun 2015 Kiwis can't see need for insurance: Research
22 Jun 2015 Migration flow sets more records
22 Jun 2015 Auckland satellite city could address supply issues
20 Jun 2015 Yield Curve: Small lenders v Big banks
20 Jun 2015 FMT adds another Auckland BDM
19 Jun 2015 Super Fund mulls what to do about Milford
19 Jun 2015 Is the FMA looking in right places?
19 Jun 2015 More banks take rates below 5%
19 Jun 2015 Under par GDP leads to OCR cut calls
19 Jun 2015 FMA keeps eye on RFAs
19 Jun 2015 Outlook bright for award winner
18 Jun 2015 Milford loses a portfolio manager
18 Jun 2015 Former broker to face jury
18 Jun 2015 Should Ozzy banks should sell NZ assets?
18 Jun 2015 FMA: Settlement better than going to court
18 Jun 2015 Milford to pay $1.5 million
18 Jun 2015 Ethical approach a business opportunity
18 Jun 2015 Reducing hedging boosts returns
17 Jun 2015 Time running out to get tax credit
17 Jun 2015 FAA doesn't work: Everett
17 Jun 2015 Unlock land supply – Productivity Commission
17 Jun 2015 Asking prices for all Auckland property types now over $500,000
17 Jun 2015 What is roboadvice, anyway?
17 Jun 2015 Kiwibank removes and reduces many home loan fees
17 Jun 2015 Kiwibank quietly tidies up home loan fees
17 Jun 2015 Mint appoints chairman
17 Jun 2015 QROPS battle added complexity
17 Jun 2015 Are all views equal?
17 Jun 2015 Award winner puts theory into practice
16 Jun 2015 What exactly is robo-advice? Is it even legal?
16 Jun 2015 Westpac selling BT stake
16 Jun 2015 Lifestyle property market booming
16 Jun 2015 Stacey joins up with Foundry
16 Jun 2015 Mercer combines schemes
16 Jun 2015 Morningstar slims down its NZ presence
16 Jun 2015 Wasn't expecting this
15 Jun 2015 GFNZ returns to profit
15 Jun 2015 Is it time to take profits from shares?
15 Jun 2015 Apartment market warnings disputed
15 Jun 2015 Westpac takes out top award
15 Jun 2015 One bank still to cut rates
15 Jun 2015 Today's yield curve
15 Jun 2015 Warning: Don't ignore roboadvice
15 Jun 2015 Property manager guilty of misconduct
15 Jun 2015 Hobsonville development sped up to boost supply
12 Jun 2015 Time right for big banks to list NZ assets
12 Jun 2015 Partners collects another accolade
12 Jun 2015 Churn debate: Don't make it a war on commissions
12 Jun 2015 BNZ makes big cut
12 Jun 2015 ANZ DIMS application for bank only
12 Jun 2015 Advisers asked for input
11 Jun 2015 Auckland house prices up 20% in a year
11 Jun 2015 FMA changes its executive team
11 Jun 2015 OCR cut prompted by falling dairy prices
11 Jun 2015 OCR cut
11 Jun 2015 OCR cut; Floating rates follow
11 Jun 2015 IRD goes in to bat for QROPS status
11 Jun 2015 RBNZ cuts OCR
10 Jun 2015 Sovereign courts farming community
10 Jun 2015 FMA decision on Milford expected soon
10 Jun 2015 Famine to follow Auckland house price feast
10 Jun 2015 Housing a key economic issue for NZ - OECD
10 Jun 2015 Advisers losing out: Morningstar
09 Jun 2015 Digital deals done in 90 seconds
09 Jun 2015 BNZ's starts re-entry
09 Jun 2015 Auckland property values continue meteoric rise
09 Jun 2015 More financial advisers not necessarily best result: Goldsmith
09 Jun 2015 Budget change a headache for providers
09 Jun 2015 Landlords proactive on insulation, smoke alarms
08 Jun 2015 Sovereign offers free insurance on Facebook
08 Jun 2015 Advisers welcome Westpac's LEM move
08 Jun 2015 Pathfinder adds to investment committee
08 Jun 2015 RESIMAC says bring it on
08 Jun 2015 One economist calls for OCR cut this week; others say wait
08 Jun 2015 RESIMAC's new low variable rates
08 Jun 2015 Does financial services industry need four disputes schemes?
05 Jun 2015 Getting to Know...Barry Read
05 Jun 2015 DIMS will bring down investor costs: Duston
05 Jun 2015 New era of responsible lending begins
04 Jun 2015 AMP opts out of Morningstar review
04 Jun 2015 Churn debate: Don't follow Australia Jennings warns
04 Jun 2015 FSC replaces Shipley
04 Jun 2015 Rise of Auckland house prices continues
04 Jun 2015 New LVR rules to cut Auckland house price inflation
04 Jun 2015 FMA adds board members
04 Jun 2015 (Under) performance fees
04 Jun 2015 Advisers register to offer NZIG
03 Jun 2015 A Global Savings Glut? Or Just Deflationary Forces?
03 Jun 2015 ANZ sharpens one-year rate
03 Jun 2015 44 apply for class DIMS
03 Jun 2015 HSBC predicts OCR cuts
02 Jun 2015 Churn debate: AMP surprised
02 Jun 2015 Clients surveyed
02 Jun 2015 Craigs fined
02 Jun 2015 ANZ bringing ETFs to NZ
02 Jun 2015 RBNZ prescribes higher loan costs for investors
02 Jun 2015 Commission restrictions risk losing advisers
02 Jun 2015 DIMS shake-up could boost managed funds
01 Jun 2015 Crown land development parcels revealed
May 2015
29 May 2015 Edge Mortgages switches groups again
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