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February 2014
28 Feb 2014 Sky TV sets rate for bonds
28 Feb 2014 Partners Life plans more shake ups
28 Feb 2014 Business insurance added to Xplan
28 Feb 2014 Tide about to turn on low equity loans
28 Feb 2014 Tide about to turn on low equity loans
28 Feb 2014 Regulation a passion killer
28 Feb 2014 nib: Policies offer value
28 Feb 2014 Building consent drop less than expected
27 Feb 2014 PAA appoints new CEO
27 Feb 2014 Brokers have role as banks turn off tap
27 Feb 2014 Quirk takes INFINZ chair
27 Feb 2014 Short-term fixers keep market competitive: Report
27 Feb 2014 Trade Me: Some agents will pay less
27 Feb 2014 Migration hits 10-year high
26 Feb 2014 Harbour scores trifecta
26 Feb 2014 Call for Aussies to pay FMA levies
26 Feb 2014 Fees hurt landlords
25 Feb 2014 Fidelity: Deal good for advisers
25 Feb 2014 Fidelity and nib team up
25 Feb 2014 The one thing NZ is lacking
25 Feb 2014 Struggle to access 'lost' super
24 Feb 2014 AML reports due mid-year
24 Feb 2014 Lombard civil case dropped
24 Feb 2014 Clawback 'not enough'
24 Feb 2014 Kiwibank reports $52 million profit
24 Feb 2014 Impact of rules revealed
22 Feb 2014 Research prospects good: Stanley
22 Feb 2014 New 18-month specials
21 Feb 2014 Asteron gets new CEO
21 Feb 2014 Aorangi repayment reaches 92c
21 Feb 2014 Guidance note 'common sense'
21 Feb 2014 BNZ makes a Classic change
21 Feb 2014 Concern at pension rush
21 Feb 2014 ANZ settles with insurer over frozen funds
21 Feb 2014 Auckland rents increase
20 Feb 2014 200 clients the max: Moore
20 Feb 2014 Harbour up for top award
20 Feb 2014 RBNZ outlines approach to insurers
20 Feb 2014 Interest rates drive prices down: Westpac
20 Feb 2014 Construction costs increase
19 Feb 2014 AIA looks to hold on to NZ's largest group schme
19 Feb 2014 PAA plans CEO appointment
19 Feb 2014 Firms charged over non-reporting
19 Feb 2014 Westpac adds a special
19 Feb 2014 Mercer: Consider annuities for KiwiSavers
19 Feb 2014 WOFs kick off
18 Feb 2014 Lenience for super transfers
18 Feb 2014 Sky TV considering bond offer
18 Feb 2014 Currency fundamentals 'still strong'
18 Feb 2014 Pre-approvals 'problematic'
18 Feb 2014 Politics, growth and inflation
18 Feb 2014 Property developer jailed
17 Feb 2014 13 lucky for Accuro
17 Feb 2014 A good 18 holes for Fidelity
17 Feb 2014 ASB special; BNZ cuts a term
17 Feb 2014 Changes at Camelot
17 Feb 2014 BT: Focus on wealth important
17 Feb 2014 Merger mooted
17 Feb 2014 First-home buyers missing out: Survey
15 Feb 2014 Rangatira boss resigns
14 Feb 2014 ASB offers two-year special
14 Feb 2014 From FMA to advice
14 Feb 2014 Heartland buys equity release business
14 Feb 2014 [Weekly Wrap] What makes a good fund manager?
14 Feb 2014 Westpac goes up and down
14 Feb 2014 Compliance experts in demand: Survey
14 Feb 2014 Should financial advice be tax-deductible?
14 Feb 2014 Parents back first-home buyers
13 Feb 2014 House price vulnerability: S&P
13 Feb 2014 Westpac appoints new broker boss
13 Feb 2014 Can banks make good fund managers?
13 Feb 2014 LVR rules affecting FHBs most: Alexander
13 Feb 2014 Money laundering risk flagged
13 Feb 2014 Community housing development opens
12 Feb 2014 Westpac appoints new broker unit boss
12 Feb 2014 Room to move within rules: ASB
12 Feb 2014 Fair play for investors - improving fund disclosure
12 Feb 2014 Milford opens in Sydney
12 Feb 2014 Kiwisaver influence 'insignificant'
12 Feb 2014 Life insurers next to target young market
12 Feb 2014 Dunn: No tax to pay
11 Feb 2014 Low-LVR loans doing well: ANZ
11 Feb 2014 PAA appoints learning and development manager
11 Feb 2014 Another boutique to open
11 Feb 2014 Guarantee rules tweaked
11 Feb 2014 Harcourts picks rising prices
11 Feb 2014 Westpac: Market past peak
10 Feb 2014 Accuro switches ratings agencies
10 Feb 2014 Ross complaint dismissed
10 Feb 2014 Changes at Aegis
10 Feb 2014 Poor planning slows retirement
10 Feb 2014 QV blames LVR rules for slowing growth
09 Feb 2014 Southern Cross launches new policy
07 Feb 2014 Is one or three years a better bet?
07 Feb 2014 [Weekly Wrap] Insurance paying off
07 Feb 2014 Claims dip in 2013: FSC
07 Feb 2014 Complaint numbers up: FSCL
07 Feb 2014 Mayor: Bumper year for housing
07 Feb 2014 Vendors treated as pawns: Helm
05 Feb 2014 Pitfalls in advertising fees
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.
1 week 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