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November 2013
22 Nov 2013 PGC wins case against former MD
22 Nov 2013 [Weekly Wrap] FMCA not far away
22 Nov 2013 Kiwibank goes mobile with home loan applications
22 Nov 2013 Kiwibank latest with home loan app
22 Nov 2013 Thinking on DIMS turned upside down
22 Nov 2013 Capture opportunities in office market
21 Nov 2013 Asteron shuffles leadership team
21 Nov 2013 Stock-picking days numbered for advisers
21 Nov 2013 OECD identifies house price fall risk
21 Nov 2013 Alexander: Prices not to blame
20 Nov 2013 Boutique fund managers dodge a bullet
20 Nov 2013 We have a new bank
19 Nov 2013 BNZ offers new rate and lowers others
19 Nov 2013 Research houses philosophical about disclosure
19 Nov 2013 Report suggests affordability improvements
18 Nov 2013 Mortgage top-ups go mobile
18 Nov 2013 TNP loses home loan boss
18 Nov 2013 Darren Pratley to leave TNP
18 Nov 2013 More questions about CPD
18 Nov 2013 Northern lifestyle blocks popular
18 Nov 2013 Rents creeping up: Barfoot
16 Nov 2013 No silver bullet to regulation: Hughes
16 Nov 2013 Code v2.0 near
15 Nov 2013 [Weekly Wrap] Ross - case closed?
15 Nov 2013 Ross given 10 years' jail
15 Nov 2013 Big name missing from new fund manager
15 Nov 2013 Tell us about your bank
15 Nov 2013 FMA calls for licensing input
15 Nov 2013 Investors won't make a loss: King
14 Nov 2013 Hopes RAM investors may get IRD refund
14 Nov 2013 No Plan B for IOOF
14 Nov 2013 Risk appetite returning
14 Nov 2013 First-home buyers giving up: Survey
14 Nov 2013 Pick suburbs carefully: Westpac
13 Nov 2013 RBNZ expects construction demand to stay strong
13 Nov 2013 Housing market still worries Reserve Bank
13 Nov 2013 Too early to tell if speed bumps work: RBNZ
13 Nov 2013 The global outlook for 2014
13 Nov 2013 The make up of an owner-occupied advisory business
13 Nov 2013 Construction demand tipped to remain high
12 Nov 2013 BNZ rewards higher-equity borrowers
12 Nov 2013 Where do you trust your money…
12 Nov 2013 Westpac follows ASB
12 Nov 2013 Rich advisers will get richer
12 Nov 2013 LVR restrictions blunt turnover
11 Nov 2013 Face-to-face time limited for banks
11 Nov 2013 ASB lowers one two-year rate
11 Nov 2013 ASB lowers one two-year rate
11 Nov 2013 Grosvenor sets sights on NZ and KiwiSaver
11 Nov 2013 Rising house prices not a concern
10 Nov 2013 Eyes fixed on the policymakers
08 Nov 2013 ASB loses KiwiSaver man to the UK
08 Nov 2013 [Weekly Wrap] Why don't Kiwis like advisers?
08 Nov 2013 Builders angry at Govt plans
07 Nov 2013 Portability not a no-brainer
07 Nov 2013 Global equity fund seeks listing
07 Nov 2013 Kiwis' 'vitriol' towards advisers revealed
07 Nov 2013 Investors unfazed by LVR rules
07 Nov 2013 LVR move likely to hit provinces hardest: QV
06 Nov 2013 Hot competition for higher-equity borrowers
06 Nov 2013 Online sales not biggest threat, poll shows
06 Nov 2013 Fees may hit bank profits
06 Nov 2013 Auction numbers still hot but 'may lose favour'
05 Nov 2013 Challenge responsible investing assumptions
05 Nov 2013 Trauma insurance 'becoming unsustainable'
05 Nov 2013 What counts as CPD now?
05 Nov 2013 Barfoot reports listings increase
04 Nov 2013 Banker survives minimum wage challenge
04 Nov 2013 What's the best income protection when incomes fluctuate?
04 Nov 2013 Tax rules on share funds unfair
04 Nov 2013 Take a hint from Texas, report says
04 Nov 2013 LVR restrictions not enough: ASB
01 Nov 2013 [Weekly Wrap] When is enough enough?
01 Nov 2013 USB theft a warning for others
01 Nov 2013 BNZ offering next-to-no low-deposit loans
01 Nov 2013 DIMS questions remain for advisers
01 Nov 2013 Broker calls for new-house exemption
01 Nov 2013 Surveys reveal buoyant market
October 2013
31 Oct 2013 Dollar concerns RBNZ
31 Oct 2013 OCR unchanged at 2.50%
31 Oct 2013 Regulation an opportunity
31 Oct 2013 Apartments popular with first-timers
29 Oct 2013 Being an AFA 'isn't good enough'
29 Oct 2013 Bentley parked up (for now)
28 Oct 2013 Call to add reasonableness standard
25 Oct 2013 More gongs
25 Oct 2013 [Weekly Wrap] KiwiSaver still the buzz
25 Oct 2013 OCR decision a balance of dollar vs inflation
25 Oct 2013 Asteron pips the big boy for award
25 Oct 2013 Submissions close on code draft
25 Oct 2013 Call to enforce insulation
25 Oct 2013 Young people more interested in investing: Alexander
24 Oct 2013 FMA reports on KiwiSaver
24 Oct 2013 Coote joins AMP
24 Oct 2013 Disputes scheme tees off with new name
24 Oct 2013 Investors seek capital gains
24 Oct 2013 Treasury recommends capital gains tax
23 Oct 2013 Triplejump eyes global expansion
23 Oct 2013 Lending rates slowing
23 Oct 2013 Opportunities for advisers in KiwiSaver requirements
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