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July 2013
10 Jul 2013 NZIER warns against early OCR hike
10 Jul 2013 Property Council: Bring in plan in one hit
09 Jul 2013 Get your loan approved on your mobile
09 Jul 2013 Westpac lets customers get home loan approvals on mobile phones
09 Jul 2013 Buddle trial date set
09 Jul 2013 Advice, not product point of difference
09 Jul 2013 Capital gain expectation driving prices: Westpac
09 Jul 2013 Auckland price momentum grows: QV
08 Jul 2013 Fidelity sells KiwiSaver and takes stake with buyer
08 Jul 2013 New app for advisers
08 Jul 2013 Should you use shares for income?
08 Jul 2013 Kiwibank GM wealth and insurance resigns
08 Jul 2013 Steps to mortgage broking success
08 Jul 2013 Rents, tenant demand only up slightly: Trade Me
08 Jul 2013 Prices are up, but where are the listings?
07 Jul 2013 [VIDEO] What it takes to be a top mortgage adviser
05 Jul 2013 Asteron to support charity
05 Jul 2013 Ross case adjourned
05 Jul 2013 [Weekly Wrap] Busy week for FMA
05 Jul 2013 Police fail AML test
05 Jul 2013 ANZ pushes up home loan rates
05 Jul 2013 Harbour Monthly Commentary: Bond Market Blues
05 Jul 2013 How much are your properties worth?
05 Jul 2013 How much are your properties worth?
04 Jul 2013 Fidelity KiwiSaver sale rumoured
04 Jul 2013 Tyndall two take leave
04 Jul 2013 Advisers wooed to Asian maket
04 Jul 2013 Property managers offer P testing
03 Jul 2013 Debt-fuelled bubble 'a mistake'
03 Jul 2013 Move to fixed rates takes hold
03 Jul 2013 Tyndall Monthly Commentary: Addicted to Quantitative Easing
03 Jul 2013 Auckland house prices hold steady
02 Jul 2013 Move to fix takes hold
02 Jul 2013 TOWER gets new CEO
02 Jul 2013 Pathfinder: Gold’s glitter – going, going, gone, or has it?
02 Jul 2013 BNZ hikes long term rates
02 Jul 2013 Unlawful and unethical behavior unnoticed
02 Jul 2013 ANZ questions sustainability
01 Jul 2013 Tools 'would have worked in last boom'
01 Jul 2013 QFE's report card: Could do better
01 Jul 2013 Houses for sale at six-year low
June 2013
30 Jun 2013 Former AXA man lands top job in Australia
30 Jun 2013 KiwiSaver boosting property sales
28 Jun 2013 Ross 'misled' to become an AFA
28 Jun 2013 [Weekly Wrap] Is it a case of banks versus advisers?
28 Jun 2013 Details of FMC regime revealed
28 Jun 2013 Long rate hikes from HSBC; Top up loans to get around LVR restrictions
28 Jun 2013 Equities OK for income: Pengana
28 Jun 2013 Ways around LVR restrictions
28 Jun 2013 Chris Lee adds another banker
28 Jun 2013 Concern at rental loan scheme
28 Jun 2013 New Tribunal forms can be filed online
27 Jun 2013 Adviser on trial
27 Jun 2013 Five Star guilty plea
27 Jun 2013 Loan restrictions could help maintain stability: RBNZ
27 Jun 2013 Fisher Funds gets new board members
27 Jun 2013 DIMS warning
27 Jun 2013 Loan restrictions could help maintain stability: RBNZ
27 Jun 2013 Squeeze on returns as rents stable
26 Jun 2013 Mortgage fraud charges
26 Jun 2013 Directors plead guilty
26 Jun 2013 KiwiSaver schemes under scrutiny
26 Jun 2013 Self managed KiwiSaver likely
26 Jun 2013 Facebook your home loan rate
26 Jun 2013 The rate rises keep coming; Facebook your rate
26 Jun 2013 Many agents not earning 'living wage'
25 Jun 2013 Don't fear the banks: Body
24 Jun 2013 UDC lifts half-year profit
24 Jun 2013 'Good response' to clear KiwiSaver explanation
24 Jun 2013 Harbour adds new analyst from overseas
24 Jun 2013 No good reason for soft dollar commissions: Naylor
24 Jun 2013 Supply shortage could increase
22 Jun 2013 Long rates rising
21 Jun 2013 FMA eyes KiwiSaver issuers
21 Jun 2013 [Weekly Wrap] Advice degree on the cards
21 Jun 2013 Kiwibank increases two-year rate
21 Jun 2013 Sovereign's latest commission deal
21 Jun 2013 FSCL reduces fees
21 Jun 2013 Investors told: Be careful
20 Jun 2013 Govt looks for new bank
20 Jun 2013 5 things wrong with bank sold life insurance
20 Jun 2013 Adviser fee levels unfair
20 Jun 2013 Reality check urged for first-time buyers
19 Jun 2013 AMP reports lift in fee income
19 Jun 2013 Predictions for floating rates
19 Jun 2013 Disability dilemmas put off insurer
19 Jun 2013 Potential AFAs should be mentored: Tate
18 Jun 2013 Forensic approach to disability claims suggested
18 Jun 2013 Property trusts well positioned
18 Jun 2013 'Price rises have a while to go yet'
17 Jun 2013 One of LM's biggest assets worthless
17 Jun 2013 Consumer confidence stats won't change RBNZ mind: ASB
17 Jun 2013 Long rates rise; Classic goes
17 Jun 2013 Massey considers financial planning degree
17 Jun 2013 Survey shows new listings aren't keeping up
17 Jun 2013 Harcourts stats highlight listings decline
14 Jun 2013 House price solutions 'will be ignored'
14 Jun 2013 [Weekly Wrap] Rules and more rules
14 Jun 2013 Home detention for Dominion directors
14 Jun 2013 What the experts said about the OCR
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