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May 2015
07 May 2015 BNZ banks on brokers
07 May 2015 ASB changes tune on OCR
07 May 2015 ASB now calling for two OCR rate cuts
07 May 2015 AMP supports commission cut
07 May 2015 PAA votes to abolish holiday home scheme
06 May 2015 State houses to go on sale in Tauranga & Invercargill
06 May 2015 First NZ censured, fined
06 May 2015 Brokers help ANZ
06 May 2015 Brokers play bigger role in ANZ home loan sales
06 May 2015 DIMS exemptions welcomed
05 May 2015 Complectus completes purchase
05 May 2015 Auckland price rises: a lesson in supply & demand
05 May 2015 AML relief for advisers
04 May 2015 The Problem with Zero Interest Rates
04 May 2015 Warehouse plans bonds offer
04 May 2015 Chinese banks in NZ likely to mean more choice, more competition
04 May 2015 SBS changes; ASB hikes commission rates
04 May 2015 Give tax break to retirement income products: Stewart
01 May 2015 Over 25% increase in Auckland home values since 2007
01 May 2015 Getting to know... Richard Stubbs
01 May 2015 Stanley steps down
01 May 2015 ASB and Sovereign increase upfront commissions
01 May 2015 One low rate replaced by another
01 May 2015 KiwiSaver funds misclassifying risk: Research
01 May 2015 Milford suspension appropriate: NZSF
01 May 2015 ISO supports disclosure law
April 2015
30 Apr 2015 Mai Chen sells wills business to Perpetual Guardian
30 Apr 2015 Has residential building activity stalled?
30 Apr 2015 What are the odds of a interest rate cut?
30 Apr 2015 SPI directors fined for breaching financial reporting rules
30 Apr 2015 No surprises in Reserve Bank’s OCR decision
30 Apr 2015 RBNZ outlines case for interest rate cut
30 Apr 2015 What the Reserve Bank said
30 Apr 2015 The Co-operative Bank goes under 5%
30 Apr 2015 Rebalancing poses problems
29 Apr 2015 Problems with professional referral and how to fix It
29 Apr 2015 ISO no longer?
29 Apr 2015 FMA pursues non-filers
29 Apr 2015 Insurers should be promoting wellbeing: Sovereign
28 Apr 2015 Boosting IRD resources to enforce property taxes a possibility - English
28 Apr 2015 [People] Mortgage Express recruits from outside
28 Apr 2015 Is a warrant of fitness scheme for private rentals really the way forward?
28 Apr 2015 OCR predictions; No-interest loans
28 Apr 2015 Second stage in no interest loans launched
28 Apr 2015 Fund research options disappear for AFAs
28 Apr 2015 AMP accepting competitors' application forms
28 Apr 2015 Clients' families affect investing decisions
28 Apr 2015 Small Kiwi market a problem for KiwiSaver
27 Apr 2015 Ralph Stewart's variable annuity business nearly there
25 Apr 2015 Health insurance claims hit $1 billion
24 Apr 2015 RBNZ rate cut unlikely – for now
24 Apr 2015 RBNZ rate cut unlikely - for now
24 Apr 2015 FMOY finalists named
24 Apr 2015 Kiwibank's three-year rate matched; OCR preview
24 Apr 2015 Getting to Know...Brent Sheather
24 Apr 2015 NZMDT cases up
24 Apr 2015 FMA warns on bank notes
24 Apr 2015 Loss-protection offer hits target
24 Apr 2015 Advisers under the magnifying glass
24 Apr 2015 Regional Review - Dunedin
23 Apr 2015 Poor turnaround times hurt advisers
23 Apr 2015 Record migration means continued pressure on Auckland market
23 Apr 2015 FMA asks: What's your plan?
23 Apr 2015 More advisers sought
22 Apr 2015 nib adds travel insurance
22 Apr 2015 Rents are rising – but are they keeping up with Auckland prices?
22 Apr 2015 KiwiSaver for first homes gets boost: ANZ
22 Apr 2015 Advocates let advisers get on with business of advising: Kelly
22 Apr 2015 Days numbered for HSBC's special rate
22 Apr 2015 Reporting rules cause confusion
22 Apr 2015 Bankrupt KiwiSaver accounts off-limits
22 Apr 2015 Government launches new tenancy services website
21 Apr 2015 [People] Chen changes BNZ board
21 Apr 2015 Group general manager for Plus4
21 Apr 2015 Notes offer confirmed
21 Apr 2015 Make disclosure automatic: Whyte
21 Apr 2015 Asset allocation help coming
20 Apr 2015 [People] Mortgage Express adds another adviser
20 Apr 2015 AMP pulls back from bonds
20 Apr 2015 NZX consults on market penalties
20 Apr 2015 What Bridgecorp investors missed out on
20 Apr 2015 Are auctions the best option for sellers in Auckland?
20 Apr 2015 BNZ Special ends; Kiwibank cuts
20 Apr 2015 Fundsource to update research tool
19 Apr 2015 FMA list reinstated
19 Apr 2015 MOUs signed
17 Apr 2015 Smartshares adds new funds
17 Apr 2015 Are we sicker or just savvier customers?
17 Apr 2015 AFAs slow to update DIMS status
16 Apr 2015 New special and carded cuts from Westpac
16 Apr 2015 CGT for property investors would create interesting possibilities
16 Apr 2015 Disclosure requirements benefit advisers: Manager
15 Apr 2015 Reserve Bank calls for action aimed at investors
15 Apr 2015 BNZ's back in market with trails
15 Apr 2015 Time running out for DIMS decision
15 Apr 2015 No signs of a breather for Auckland
14 Apr 2015 Hassell takes over as head of AMP Capital
14 Apr 2015 RESIMAC's new rates and policy updates
14 Apr 2015 National median price rise – thanks to “Auckland effect”
14 Apr 2015 Remarkable pushes The Boat out
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