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September 2013
23 Sep 2013 It's not just home loans that maybe counted in LVR numbers
23 Sep 2013 ASB cancels preapprovals
23 Sep 2013 Commission charged on high end of price
22 Sep 2013 Pressure on Kiwi equities market
21 Sep 2013 Retirees are living longer, creating a new star financial product
20 Sep 2013 TOWER Life sale a boon for some
20 Sep 2013 [Weekly Wrap] Forward planning and looking back
20 Sep 2013 KiwiSaver ruling for minimum wage earners
20 Sep 2013 Specials not so special
20 Sep 2013 Sharebrokers now in FMA's sights
20 Sep 2013 Whatever gets you through...retirement
20 Sep 2013 Migration momentum a property driver: ANZ
19 Sep 2013 There will be a boom in advice: James
19 Sep 2013 Commentator concerned at loss of data
18 Sep 2013 FMA says it will do better with FMCA than AML
18 Sep 2013 Hamilton renters get warning
17 Sep 2013 nibs says lots of opportunities in health insurance market
17 Sep 2013 AFAs set to produce their own annual reports
17 Sep 2013 House prices likely to start to cool in November: Westpac
16 Sep 2013 Challenge to grow insurance market: Southern Cross
16 Sep 2013 Record health insurance payout
16 Sep 2013 BNZ KiwiSaver Scheme hits $100m FUM
16 Sep 2013 ASB adds second special
16 Sep 2013 Call to address gap between RFAs and AFAs
16 Sep 2013 Regional first-home buyers acting fast: REINZ
16 Sep 2013 Sellers' market, prices rising: Survey
13 Sep 2013 [Weekly Wrap] Adviser 'skipping processes'
13 Sep 2013 Young borrowers actively rate shopping
13 Sep 2013 Young borrowers actively rate shopping
13 Sep 2013 Partners Life outlines its dealer group strategy
13 Sep 2013 Advisers still getting to grips with regulation
13 Sep 2013 Rent control policy questioned
12 Sep 2013 Accuro CEO resigns
12 Sep 2013 LVR move's effectiveness uncertain: Wheeler
12 Sep 2013 What the Reserve Bank said
12 Sep 2013 What the Reserve Bank said
12 Sep 2013 ASIC concerns addressed by manager
12 Sep 2013 LVR move's effectiveness uncertain: Wheeler
11 Sep 2013 Partners Life to become a group player
11 Sep 2013 OnePath name to go (for some)
11 Sep 2013 Money Week calls up; but not huge
11 Sep 2013 Lowest rate in a decade
10 Sep 2013 Lowest home loan rate in a decade: HSBC
10 Sep 2013 No OCR change, but rates still rising
10 Sep 2013 Affordability action starts now: Brown
09 Sep 2013 Adviser website idea panned
09 Sep 2013 Battle for control of Guardian Trust's parent continues
09 Sep 2013 OCR on hold but not all good news for borrowers
09 Sep 2013 FMA: Investors will be disappointed
09 Sep 2013 Life insuers get licence plates
09 Sep 2013 Pathfinder: Keeping ETF fees real
09 Sep 2013 PAA and IFA disagree on proposed Code changes
09 Sep 2013 QV: LVR move won't slow market
07 Sep 2013 LVR restrictions impact home loan pricing
07 Sep 2013 Westpac joins low-equity fee hikes
06 Sep 2013 Kiiwbank splits rates
06 Sep 2013 [Weekly Wrap] Boosting positive profile
06 Sep 2013 Better CPD flexibility 'important'
06 Sep 2013 Alexander: Not enough builders
05 Sep 2013 Superlife: TSB not a major loss
05 Sep 2013 Fund manager mints a new team member
05 Sep 2013 Harbour: Northern autumn uncertainty
05 Sep 2013 Ponzi scheme alleged
04 Sep 2013 Investors told to consider Australian real estate securities
04 Sep 2013 Tyndall: Tapering tantrums
04 Sep 2013 Another new insurance company
04 Sep 2013 Take any chance to build public image: Tate
04 Sep 2013 No upwards price pressure, agency reports
04 Sep 2013 Buyers getting around restrictions: Broker
03 Sep 2013 Low equity loans get more expensive
03 Sep 2013 K2 changes stock selection process
03 Sep 2013 FNZ looks to expand
03 Sep 2013 Westpac increases rates
03 Sep 2013 Landlords need more insurance information
02 Sep 2013 ASIC slams manager
02 Sep 2013 Drop commissions to eliminate conflict: NZ Wealth
02 Sep 2013 Trade Me boss on buying life insurance
02 Sep 2013 ANZ Retail to get new boss
02 Sep 2013 One-person advisers devalue business: AdviceFirst
02 Sep 2013 Inventory at record lows
02 Sep 2013 Property investment beats other asset classes
01 Sep 2013 Watch out for guarantees: Ombudsman
01 Sep 2013 Pet bonds by the book: Whitburn
August 2013
30 Aug 2013 [Weekly Wrap] Bad-news story nearing end
30 Aug 2013 Three of seven plead guilty to mortgage fraud
30 Aug 2013 Three of seven plead guilty to mortgage fraud
30 Aug 2013 Advisers heading off formal complaints
30 Aug 2013 Exclusive property up for mortgagee sale
29 Aug 2013 Deemed rate of return falls
29 Aug 2013 Ross pleads guilty
29 Aug 2013 FMCB passed
29 Aug 2013 Be clear on value: Dowling
29 Aug 2013 LVR limits have limited impact: Westpac
28 Aug 2013 The role of annuities in the New Zealand retirement incomes policy mix
28 Aug 2013 Kiwibank aims to grow its share of the home loan pie
28 Aug 2013 Kiwibank aims to grow its share of the home loan pie
28 Aug 2013 Fidelity makes two senior appointments
28 Aug 2013 Brown: Advisers struggling with principles-based approach
28 Aug 2013 Price growth not exceptional: Barfoot
27 Aug 2013 nib signs up Benji Marshall for new campaign
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