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August 2013
27 Aug 2013 ANZ says speed bumps will slow the housing market
27 Aug 2013 First FADC action taken
27 Aug 2013 Flexible pensions proposal risks
27 Aug 2013 TSB deletes special rate; Speed bumps will work
27 Aug 2013 ANZ: How low will sales go?
26 Aug 2013 Quote Monster business sold
26 Aug 2013 ASB ups rates and adds special
26 Aug 2013 Too many professional bodies: Advisers
26 Aug 2013 Sunset clauses may burn investors
23 Aug 2013 Campbell to step down
23 Aug 2013 [Weekly Wrap] Adviser advocate resigns
23 Aug 2013 New wave of rate hikes starts
23 Aug 2013 OnePath trauma changes
23 Aug 2013 FMA and Code at odds over adviser rules
23 Aug 2013 ANZ cracks 7% mark
22 Aug 2013 Kiwibank moves to self insure its loans
22 Aug 2013 Kiwibank moves to self-insure loans
22 Aug 2013 Direct sales not a threat to advisers: Sligo
22 Aug 2013 Five Star investors angry
22 Aug 2013 Alexander: Rules will push up regional house prices
21 Aug 2013 Trade Me enters life insurance market
21 Aug 2013 Aust super schemes not playing ball with KiwiSaver
21 Aug 2013 Bank customers will be disadvantaged by lending restrictions; BNZ hikes
21 Aug 2013 Cash sales declining: Property IQ
20 Aug 2013 What it takes to be the FMA CEO
20 Aug 2013 Customers 'will be disadvantaged'
20 Aug 2013 LVR move stricter than predicted
20 Aug 2013 Bank lending restrictions announced
20 Aug 2013 LVR restrictions a thicker mattress rather than a stout fence
20 Aug 2013 Advisers raise concerns about Code changes
20 Aug 2013 LVR restrictions announced
20 Aug 2013 Kiwibank to push investors back in queue
19 Aug 2013 LVR restrictions a thicker mattress rather than a stout fence
19 Aug 2013 AMP has better experience with life insurance claims
19 Aug 2013 Time running out for life companies to get licenced
19 Aug 2013 Ross investors face $3.8m clawback
19 Aug 2013 Floating rates set to go close to 8%
19 Aug 2013 Plan to help people switch KiwiSaver schemes
19 Aug 2013 Kiwibank offers energy use check-up
16 Aug 2013 [Weekly Wrap] Commission debate continues
16 Aug 2013 New CPD guide for IFA members
16 Aug 2013 Sean Hughes' speech to Workplace Savings
16 Aug 2013 Arkinstall and co sentenced
16 Aug 2013 FADC hears three cases but issues no decisions
16 Aug 2013 More to go with house prices
16 Aug 2013 Cycle 'may be only half-way through'
16 Aug 2013 Hughes apologises to investors
16 Aug 2013 'Cycle may only be half-way through'
15 Aug 2013 ASB's bumper profit
15 Aug 2013 Showing value for advice number one issue
15 Aug 2013 Private option for listings
14 Aug 2013 LVR restrictions a significant change: ASB
14 Aug 2013 Do trips make a difference?
14 Aug 2013 Loan restrictions creep closer - or do they?
14 Aug 2013 Code review sparks soft dollar commission debate
14 Aug 2013 LVR restrictions at odds with Government: Eaqub
13 Aug 2013 Reserve Bank releases response to submissions on high-LVR restrictions
13 Aug 2013 Aussie takes over IFA board chair
13 Aug 2013 Two tier home loan pricing
13 Aug 2013 How much do advisers earn?
13 Aug 2013 Returning to the heart of being a broker
13 Aug 2013 Botherway considers property fund: report
13 Aug 2013 First-home buyers rush in
12 Aug 2013 Code changes impact RFAs
12 Aug 2013 House price expectations up
12 Aug 2013 First-home buyers try to beat restrictions: REINZ
11 Aug 2013 Changes to KiwiSaver subsidy, Welcome Home Loans announced
11 Aug 2013 Shareholders to vote on note conversion
10 Aug 2013 More RMA reforms planned
09 Aug 2013 New appointment to Southern Cross Travel Insurance
09 Aug 2013 General Finance reports growth
09 Aug 2013 Code changes released
09 Aug 2013 Wind up of LM Fund to start
09 Aug 2013 [Weekly Wrap] Code Committee shows its hand
09 Aug 2013 How to tell a good adviser from a bad one
09 Aug 2013 Lender seeking projects
09 Aug 2013 Quick auctions not in vendor's interests: Helm
08 Aug 2013 CEO of biggest broking group resigns
08 Aug 2013 LVR lending restrictions may not materialize
08 Aug 2013 Henderson reduces fees
08 Aug 2013 New chairman for Million Dollar Round Table
08 Aug 2013 The return of big planning firms
08 Aug 2013 Prices growing, but more slowly: QV
07 Aug 2013 A little less stimulus ahead
07 Aug 2013 RBA cuts, lenders pass
07 Aug 2013 Investors less keen to buy Crockers
07 Aug 2013 Auctions frustrating buyers
06 Aug 2013 Fisher gets first performance fee
06 Aug 2013 More on high LVR lending
06 Aug 2013 Warren Buffett backs Partners Life
06 Aug 2013 Increasing numbers of RFAs moving towards AFA status
06 Aug 2013 Warning to construction firms: Not so fast...
05 Aug 2013 Low equity loans fine as long as priced properly: Church
05 Aug 2013 FADC's first hearing over in a flash
05 Aug 2013 Pathfinder Monthly Commentary
05 Aug 2013 When systems go bad
05 Aug 2013 RESIMAC makes some changes to rates and fees
05 Aug 2013 FADC hears first AFA complaints today
05 Aug 2013 First-home buyers driving prices more than investors: King
05 Aug 2013 New listings offer no supply boost: Barfoot
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