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February 2014
05 Feb 2014 Number of insured increases
05 Feb 2014 Cheaper sales pick up: Barfoot
04 Feb 2014 OneAnswer funds perform well: Survey
04 Feb 2014 IFA should be more visible: Dodds
04 Feb 2014 nib launches new adviser product
04 Feb 2014 Listings pick up
04 Feb 2014 Interest rates don't dull appetite
03 Feb 2014 Reporting standards under review
03 Feb 2014 Sovereign faces big bill
January 2014
31 Jan 2014 No rose-tinted glasses for Wheeler
31 Jan 2014 TOWER fund renamed
31 Jan 2014 [Weekly Wrap] Has GFC put investors off?
31 Jan 2014 Solly finds a new port
31 Jan 2014 Conservative young investors shun advice
31 Jan 2014 OCR: What the economists said
31 Jan 2014 Pressure on both sides: ANZ
30 Jan 2014 Bagrie: Hikes will be effective
30 Jan 2014 What the RBNZ said
30 Jan 2014 OCR unchanged: What the bank said
30 Jan 2014 S&P rating 'positive for industry'
30 Jan 2014 Good year for KiwiSaver growth funds
30 Jan 2014 Tribunal applications fast-tracked
29 Jan 2014 High-LVR share drops further
29 Jan 2014 Fisher keeps Kingfish management
29 Jan 2014 The Co-operative Bank adds rates
29 Jan 2014 Adviser underperformance 'a blip'
29 Jan 2014 More properties under management: Report
28 Jan 2014 OCR set to stay the same: Westpac moves
28 Jan 2014 Confusion persists about limited advice
28 Jan 2014 OCR move unlikely this week: Survey
27 Jan 2014 Mainstream banks not liking Facebook
27 Jan 2014 Bank advice stepping up
27 Jan 2014 Tenant trouble pushes landlords to sell
24 Jan 2014 [Weekly Wrap] Future of advice force
24 Jan 2014 OCR move next week unlikely: Survey
24 Jan 2014 Interest rates could be hard work for advisers
24 Jan 2014 Record price for lifestyle blocks
23 Jan 2014 'Hard slog for solo advisers'
23 Jan 2014 Too soon to draw conclusions: Alexander
23 Jan 2014 Owner-occupiers snapping up apartments
22 Jan 2014 Diversity key: Survey
22 Jan 2014 Advice industry changing shape
22 Jan 2014 Buyers working around rules: Harcourts
21 Jan 2014 CPI puts pressure on
21 Jan 2014 OnePath increases premiums
21 Jan 2014 Regulatory backtrack surprises
21 Jan 2014 Affordability report questioned
20 Jan 2014 Fixed interest watchlist for fixed interest investors in 2014
20 Jan 2014 Advice force ageing - is it a problem?
20 Jan 2014 Turnover dropped in December: REINZ
17 Jan 2014 [Weekly Wrap] Gearing up for strong year
17 Jan 2014 Perpetual Trust sale finalised
17 Jan 2014 Regulatory upheaval calms in 2014
17 Jan 2014 Aucklanders spend most on housing
16 Jan 2014 Video targets bank advice
16 Jan 2014 Don't skip reviews: Cortesi
15 Jan 2014 2014: The year of social media
15 Jan 2014 Wellington landlords 'in box seat'
14 Jan 2014 We want your views
14 Jan 2014 Looking ftor testers
14 Jan 2014 Industry groups call for recognition
14 Jan 2014 Housing not biggest OCR pressure: Economists
14 Jan 2014 Prices up but turnover slowing:QV
13 Jan 2014 The 2014 ETF giveaway – 6 chances to win…
13 Jan 2014 Blame the Adviser?
13 Jan 2014 FADC changes its procedures
13 Jan 2014 Overseas interest in adviser groups
13 Jan 2014 Northland baches' summer windfall
10 Jan 2014 Global market risks outlined
10 Jan 2014 Brake comes off low-deposit lending
10 Jan 2014 Warren Buffet buys annuities
10 Jan 2014 Bitcoins a precious metal alternative
10 Jan 2014 Brake comes off high-LVR lending
09 Jan 2014 Drop in fixed interest options boosting equities
09 Jan 2014 Listings down, asking price eases
08 Jan 2014 Unimed seeking higher returns
08 Jan 2014 Advisers tune up for 'rock star' year
08 Jan 2014 High-LVR lending slows
08 Jan 2014 Fewer entry-level sales reported
07 Jan 2014 Call to split interest rates
06 Jan 2014 NZ not following commission ban ... yet
06 Jan 2014 Tower unable to find buyer for remainder of life policies
05 Jan 2014 Are online apps a threat to advisers?
04 Jan 2014 Gender balance at FSC
03 Jan 2014 Lifestyle market strengthens further
01 Jan 2014 REINZ sells headquarters
December 2013
31 Dec 2013 FMA puts spotlight on paperwork
31 Dec 2013 Commercial investors feeling confident
30 Dec 2013 Where have they gone 2?
30 Dec 2013 Rise can't continue at this rate: Helm
29 Dec 2013 LVR rules tweaked
28 Dec 2013 Where have they gone?
27 Dec 2013 Sheriff Hughes ditches his horse for FMA departure
27 Dec 2013 Longer due diligence periods better: Whitburn
26 Dec 2013 Speech: Sean Hughes reviews the FMA's first three years
24 Dec 2013 One big bank to go
23 Dec 2013 CPD problems for insurance advisers
23 Dec 2013 Adviser-owned firm offered for sale
23 Dec 2013 Property market on hold
23 Dec 2013 Marketing needs examination: Judge
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