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June 2013
14 Jun 2013 What the experts said
14 Jun 2013 Equity income still fine strategy
14 Jun 2013 US manager sees value in New Zealand
14 Jun 2013 RBNZ's latest paper on insurance causes concerns
13 Jun 2013 New Retirement Commissioner named
13 Jun 2013 Liberty finally gains control of Mike Pero
13 Jun 2013 David Ross charged over $400 mill ponzi scheme
13 Jun 2013 Slight interest rate rise forecast
13 Jun 2013 Slight interest rate rise forecast
13 Jun 2013 Advisers yet to get responsible investing
13 Jun 2013 Slight interest rate rise forecast
12 Jun 2013 Flurry of home loan rate cuts
12 Jun 2013 More record prices recorded
12 Jun 2013 Pero sale settled
12 Jun 2013 Newpark adds board member
12 Jun 2013 KiwiSaver used to pay bankrupts' creditors
12 Jun 2013 Clarity brought to issue of transfer of offshore pensions
12 Jun 2013 Commission regulation unlikely: Tate
11 Jun 2013 FMA warns on AML
11 Jun 2013 AXA and AMP scheme merger closer
11 Jun 2013 Concerns for units' maintenance plans
10 Jun 2013 Interest rate predictions
10 Jun 2013 Could dealer groups become regulators?
10 Jun 2013 Nine more months of unchanged OCR predicted
10 Jun 2013 Sprawl not an issue for NZ: Report
10 Jun 2013 Auckland buyers getting desperate: QV
07 Jun 2013 [Weekly Wrap] How much do consumers know?
07 Jun 2013 Kiwibank switches home loan promotion
07 Jun 2013 Harbour Asset Management: Another turning point for markets
07 Jun 2013 Banks losing appeal for KiwiSavers
07 Jun 2013 The Top Five things that aren’t done often enough when reviewing insurance
07 Jun 2013 Latest life insurance sales stats
07 Jun 2013 Restrictions on lending may have little impact
07 Jun 2013 Fund managers score poorly, but improve
07 Jun 2013 Higher borrowing costs coming
06 Jun 2013 Australians finally get act together on super portability
06 Jun 2013 Rebalancing period over: Barfoot
05 Jun 2013 New bank tools possibly days away: BNZ
05 Jun 2013 New bank tools possibly days away: BNZ
05 Jun 2013 Challenges ahead for FMA
05 Jun 2013 Pathfinder Monthly Commentary: Death and taxes – how certain are they?
05 Jun 2013 Rate of construction leaps
04 Jun 2013 Govt should regulate commissions: Naylor
04 Jun 2013 Tyndall Monthly Commentary: Bernanke and QE
04 Jun 2013 Borrowers go long
04 Jun 2013 Borrowers go long
04 Jun 2013 NZ firm forms JV with Swiss manager
04 Jun 2013 Less than a third worried by rising prices: BNZ
04 Jun 2013 LVR restrictions 'days away'
03 Jun 2013 Supply and demand gap widens
03 Jun 2013 KiwiSaver boosting property prices
May 2013
31 May 2013 Mortgage lending picks up pace
31 May 2013 Churn in Australian watchdog's sights
31 May 2013 [Weekly Wrap] Wanted: More advisers
31 May 2013 Fidelity Life appoints Chief Underwriting Manager
31 May 2013 Bank KiwiSaver lure may backfire
31 May 2013 Bottom of interest cycle reached: ANZ
30 May 2013 Lombard appeals rejected
30 May 2013 Gould steps down
30 May 2013 PAPER: Finding real solutions for New Zealand retirees
30 May 2013 Wheeler hints OCR cut possible
30 May 2013 Another Australian manager crosses the ditch
30 May 2013 Building consent numbers hit five-year high
29 May 2013 Consumers 'ready to take on more credit'
29 May 2013 ASB's new one year deal
29 May 2013 New tactic with home loan specials
29 May 2013 Poor retention rates can be turned around: AMP
29 May 2013 House prices worry NZIER
28 May 2013 Banking Ombudsman gets new chairman
28 May 2013 Lead managers for Meridian, Genesis sales appointed
28 May 2013 TOWER shareholders in for another payment
28 May 2013 No good news for St Laurence investors
28 May 2013 How to make advice a profession
28 May 2013 Mike Pero Mortgages now Australian owned
28 May 2013 REINZ rejects call to eliminate CVs
27 May 2013 NZF approves sale
27 May 2013 Suzuki, UDC team up
27 May 2013 RAM investors allege insider trading
27 May 2013 NZF accepts Pero valuation
27 May 2013 NZF accepts Pero valuation
27 May 2013 Leverage, not tax, advantage: APIA
24 May 2013 Fraud accused not registered adviser
24 May 2013 [Weekly Wrap] Regulation still a key concern
24 May 2013 ANZ cuts one-year rate
24 May 2013 Strong disapproval of ban on low home deposits
24 May 2013 Strong disapproval of ban on low home deposits
24 May 2013 Want to go to Sydney?
24 May 2013 Urgent action required over banks' KiwiSaver selling tactics
24 May 2013 Consider trauma instead of medical cover: Partners
24 May 2013 Lender given another serve
24 May 2013 Top three Barfoot agents turn over $200m
23 May 2013 Jenning's gems
23 May 2013 IFA hands out awards
23 May 2013 AMP reviews fund composition
23 May 2013 RFAs should become AFAs
22 May 2013 Kiwibank outlook downgraded
22 May 2013 IFA gets two new directors
22 May 2013 Kiwibank outlook downgraded
22 May 2013 Don't bet on Aussie banks: PM Capital
22 May 2013 Auckland lacking homeowners: Survey
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