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October 2013
23 Oct 2013 Squeeze on commercial property
22 Oct 2013 Advisers wary of dabbling in online sales
22 Oct 2013 AIA on a mission to break the cycle of under-insurance
22 Oct 2013 KiwiSaver information available, if you can find it
22 Oct 2013 Skip auctions if you want to sell to first-timers, agents told
21 Oct 2013 LVR limits won't affect OCR yet: ASB
21 Oct 2013 Reporting regime in effect
21 Oct 2013 Peters misses mark on fees
21 Oct 2013 AIA on a mission to break the cycle of under-insurance
21 Oct 2013 Lifestyle market shortage looming
18 Oct 2013 [Weekly Wrap] KiwiSaver advice addressed again
18 Oct 2013 Jennings gets a gong
18 Oct 2013 Disappointment lifestages not adopted for default funds
17 Oct 2013 'Impartial advice' a default requirement
17 Oct 2013 One path for one GM and another for three others
17 Oct 2013 The answer to bad investment decisions
17 Oct 2013 Westpac predicts price falls
16 Oct 2013 Deal over KiwiSaver trail commissions goes sour
16 Oct 2013 Rush on valuers as owners seek equity
15 Oct 2013 Super fund adds new passive manager
15 Oct 2013 Westpac reassesses preapprovals
15 Oct 2013 Last annuity provider to exit market
15 Oct 2013 Auckland commercial investors most confident
14 Oct 2013 Tax treatment disadvantages KiwiSavers
14 Oct 2013 REINZ reports spring surge
14 Oct 2013 Landlords benefit as first-home buyers retreat
13 Oct 2013 Fund managers under spotlight
13 Oct 2013 AMP reshuffles leadership team
11 Oct 2013 [Weekly Wrap] What makes a professional body?
11 Oct 2013 RESIMAC restricts low equity lending
11 Oct 2013 Patch protection blamed
11 Oct 2013 Low equity loans for good brokers only
11 Oct 2013 Whitburn: Labour's housing policies better
10 Oct 2013 More deals offered for those with equity
10 Oct 2013 ANZ's two-tier home loan rates
10 Oct 2013 National affordability improves but regions vary
10 Oct 2013 RBNZ predicts turnover drop
09 Oct 2013 Tax change could alter investment behaviour
09 Oct 2013 Economic momentum still building
09 Oct 2013 Taking professional bodies out of the equation 'a boost'
09 Oct 2013 QV predicts activity flurry
09 Oct 2013 Special housing areas announced
08 Oct 2013 KiwiSaver scheme closes
08 Oct 2013 The Federal Reserve recants
08 Oct 2013 Ralph Stewart returns with new product
08 Oct 2013 Supply the issue: Harcourts
07 Oct 2013 How much research must advisers do on equities?
07 Oct 2013 Active v passive: The great debate
07 Oct 2013 KiwiSaver advice debate not necessarily done and dusted
07 Oct 2013 LVR move worries investors
06 Oct 2013 Make sure policies cover what clients need: Southern Cross
04 Oct 2013 [Weekly Wrap] Committee responds to feedback
04 Oct 2013 Wheeler explains why loan-to-value ratios were introduced
04 Oct 2013 Banks' interest margin up
04 Oct 2013 Professional bodies 'will have to push harder' on CPD
04 Oct 2013 Restrictions' impact not sustained: Report
04 Oct 2013 Harcourts, Barfoot at odds
03 Oct 2013 Draft version of revised code released
03 Oct 2013 Tate hopes the next IFA chief executive lasts longer
03 Oct 2013 It could take months to see LVR impact: Agency
02 Oct 2013 Partners Life turns loss to profit
02 Oct 2013 LVR restrictions 'could spark complaints'
02 Oct 2013 Milford adds fund
02 Oct 2013 Older lives still need cover
02 Oct 2013 Former non-bank lender joins TNP
02 Oct 2013 Act penalties insufficient
02 Oct 2013 LVR restrictions 'could spark complaints'
02 Oct 2013 Building consents slow
01 Oct 2013 Delay in draft of proposed new advisers' code
01 Oct 2013 IFA CEO resigns
01 Oct 2013 Record asking price recorded
01 Oct 2013 Govt gifts deposits to regional buyers
September 2013
30 Sep 2013 Fixed interest a fine balance for advisers
30 Sep 2013 GPG sells out of TOWER
30 Sep 2013 Kiwi money man has assets frozen and passport surrendered
30 Sep 2013 Changes to ASB rates
30 Sep 2013 8 in a row for Sovereign
30 Sep 2013 Time to rethink reporting of returns
30 Sep 2013 Short-term LVR effect predicted
30 Sep 2013 Five months for plan submissions
29 Sep 2013 Watch out for new non-smokers: ISO
27 Sep 2013 The future of pre-approvals in doubt
27 Sep 2013 [Weekly Wrap] Ross still making headlines
27 Sep 2013 LVR moves slowing housing supply
26 Sep 2013 Adviser fined for using Ross Asset Management
26 Sep 2013 RBNZ 'learning by doing'
26 Sep 2013 Returns 'pay off' for green building
26 Sep 2013 Advisers should be coaches: Kneebone
26 Sep 2013 Reserve Bank could target investors
25 Sep 2013 Blow for Ross investors
25 Sep 2013 More mergers likely: PWC
25 Sep 2013 Perpetual now officially an Australian firm
25 Sep 2013 Mortgages more expensive
24 Sep 2013 Finance Minister slams ASB move
24 Sep 2013 AIA adds a sales team
24 Sep 2013 New fixed interest manager in NZ
24 Sep 2013 Regulation inhibiting advice
24 Sep 2013 ASB cancels pre-approved loans
23 Sep 2013 Pre-approvals cancelled
23 Sep 2013 What's in the L and V of LVR?
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