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February 2015
18 Feb 2015 General Finance fourth finance company to gain licence
18 Feb 2015 NZX boss indicates no big plans for Fundsource
18 Feb 2015 Why target investors?
17 Feb 2015 BNP Paribas appoints from JP Morgan
17 Feb 2015 NZX focus on ETFs
17 Feb 2015 Room for improvement at Sovereign: CEO
17 Feb 2015 More KiwiSaver information needed: Boyle
17 Feb 2015 Higher prices predicted
16 Feb 2015 MortgageLink gets new owner and boss
16 Feb 2015 Even more home loan rate cuts; New boss at MortgageLink
16 Feb 2015 Match-fixing in funds management
16 Feb 2015 When is advice not advice? The curious rise of no-advice sales
16 Feb 2015 NZ-based research options dwindling
16 Feb 2015 Call to cut rules in regional NZ
16 Feb 2015 Regional NZ picks up
14 Feb 2015 Inventory down except in Canterbury, Harcourts says
13 Feb 2015 Fidelity rating affirmed
13 Feb 2015 Rates slashed as mortgage wars heat up
13 Feb 2015 Fidelity Life has rating confirmed
13 Feb 2015 Former Health Minister joins nib board
13 Feb 2015 ASB takes lead in five-year fixed rate market
13 Feb 2015 AMP move may cause market ripples
13 Feb 2015 Working for big firms a fine balance
12 Feb 2015 ASB talks about competition, brokers and profit
12 Feb 2015 Spicers goes to court to get adviser client files
12 Feb 2015 Record asking price reached
11 Feb 2015 ASB reports strong profit but dip in home loan market share
11 Feb 2015 Home loan rate cuts keep coming
11 Feb 2015 DIMS requirement 'overkill'
11 Feb 2015 'Everyday' policies attracting young consumers
11 Feb 2015 Listings not keeping pace with demand: O'Sullivan
10 Feb 2015 The perfect performance fee (part 3)
10 Feb 2015 AMP KiwiSaver gets award
10 Feb 2015 What's behind the FMA investigation into Milford?
10 Feb 2015 Rate cuts still a possibility: Westpac
10 Feb 2015 Why the secrecy?
10 Feb 2015 Red tape taskforce revealed
09 Feb 2015 Milford confirms it is focus of FMA investigation
09 Feb 2015 [Weekly Wrap] Is there any truth to market manipulation rumours?
09 Feb 2015 Cuts continue
09 Feb 2015 Castle Point announces shareholder
09 Feb 2015 Income-seeking investors face problems
09 Feb 2015 Advisers must emphasise need to disclose: ISO
09 Feb 2015 First-time buyers helped into property
08 Feb 2015 Has the European Central Bank saved the world?
07 Feb 2015 10-year rates welcomed
07 Feb 2015 Harbour gets MIS licence
06 Feb 2015 10-year fixed rates come to the market
06 Feb 2015 TSB launches 10-year fixed loan
05 Feb 2015 Investigation rumours swirl
05 Feb 2015 Plus4 expands in Dunedin
05 Feb 2015 Roboadvice may bulldoze advisers
05 Feb 2015 Global bond yields collapse
05 Feb 2015 Rent increases muted
05 Feb 2015 Correction unlikely: Property Council
04 Feb 2015 FSC closes Wellington office
04 Feb 2015 Surprise cash rate cut
04 Feb 2015 Your job is to simplify regulatory complexity
04 Feb 2015 Advisers told to manage client behaviour
04 Feb 2015 Critical shortage of mid-priced homes: Barfoot
04 Feb 2015 Proportionate ownership popular
03 Feb 2015 Mortgage Express adds adviser
03 Feb 2015 'Auckland effect' spreading: QV
03 Feb 2015 FMA wants to manage advice costs
02 Feb 2015 Overall lending volumes up; low equity loans down
02 Feb 2015 McLean confirmed in Westpac job
02 Feb 2015 Islamic fund's adviser push
02 Feb 2015 Upper Hutt - on the up for investors
January 2015
31 Jan 2015 Deflation warning
31 Jan 2015 Grosvenor applies filter
31 Jan 2015 ANZ takes one-year lead
31 Jan 2015 PGC's missing $22m
30 Jan 2015 NZX and FMA sign MoU
30 Jan 2015 Small firms get staff cover
30 Jan 2015 DIMS conditions clarified
30 Jan 2015 Building consents track up
29 Jan 2015 Don't expect returns to continue: NZ Super Fund
29 Jan 2015 Decent environment for investors: Tuffley
29 Jan 2015 No surprises
29 Jan 2015 What the Reserve Bank said
29 Jan 2015 KiwiSaver effect has wide reach
29 Jan 2015 Affordability deteriorates again
28 Jan 2015 Advisers concerns heard, Goldsmith says
28 Jan 2015 Social housing overhaul
27 Jan 2015 2015 may see bonds' fortunes reverse
27 Jan 2015 Small rent increases planned
26 Jan 2015 Advisers wrongly get blame
23 Jan 2015 Find the right fund fit: Morningstar
23 Jan 2015 Low rates could create opportunity
23 Jan 2015 Rents must rise
22 Jan 2015 OCR not going anywhere: Economists
22 Jan 2015 Advisers should bank on young clients: Matthews
22 Jan 2015 Rents not keeping pace
22 Jan 2015 No sign of OCR increases: Economists
21 Jan 2015 Westpac adviser moves on
21 Jan 2015 ANZ goes for a triple five special
21 Jan 2015 KiwiSavers' missing millions
21 Jan 2015 Time to address advice accessibility: Body
21 Jan 2015 RMA reforms revealed
21 Jan 2015 More land not the whole answer: NZPI
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