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April 2013
22 Apr 2013 Banks cut one-year rates ahead of OCR
22 Apr 2013 Fisher shows TOWER managers the door
21 Apr 2013 Lenders targetted
21 Apr 2013 Eco proposal criticised
20 Apr 2013 One-year home loan rates fall
19 Apr 2013 TOWER staff out of a job
19 Apr 2013 [Weekly Wrap] Complaining about a lack of complaints
19 Apr 2013 Let's reframe under-insurance debate
19 Apr 2013 TNP looks to corporatised advice model
19 Apr 2013 First adviser heads to disciplinary committee
18 Apr 2013 New distribution boss for Fidelity
18 Apr 2013 Campaign to tackle under-insurance launched
18 Apr 2013 Family and friends NZers source of KiwiSaver advice
18 Apr 2013 Competition putting pressure on bank margins
18 Apr 2013 Complaints up but awareness low
18 Apr 2013 No protection available for tenants: Greens
18 Apr 2013 No bubble to worry about: Alexander
17 Apr 2013 Competition keeps bank margins low: KPMG
17 Apr 2013 Gold loses its shine
17 Apr 2013 No stick needed for property investors: Whitburn
17 Apr 2013 Don't pay too much: Newland
16 Apr 2013 Govt ignores its own rules: Lee
16 Apr 2013 Auckland house prices concern Govt: Key
15 Apr 2013 Price can't be sole selling point: FMA
15 Apr 2013 Property firms' merger terms agreed
13 Apr 2013 Sellers' market spreading: Survey
12 Apr 2013 [Weekly Wrap] MRP process leaves a lot to be desired
12 Apr 2013 Dominion, North South Finance executive guilty
12 Apr 2013 Kiwis investing in SMEs: English
12 Apr 2013 Govt should get pinged over its MRP sales process
12 Apr 2013 IFA and IBANZ College team up
12 Apr 2013 FMA gives green light to offer document
12 Apr 2013 Rental demand down and supply up: Trade Me
11 Apr 2013 Buoyant market tempts new brokers
11 Apr 2013 New Zealand's lack of deposit insurance unusual
11 Apr 2013 Mudford: Grayland's job done
11 Apr 2013 Auckland prices driving national increases: REINZ
11 Apr 2013 Tackle foreign buyers now: Alexander
10 Apr 2013 IFA loses its PD boss over conference switch
10 Apr 2013 Van Eyk sale 'won't change research product'
10 Apr 2013 Investors offered property shares
09 Apr 2013 Kiwibank offers TC3 insurance
09 Apr 2013 Kiwibank ends one special starts another
09 Apr 2013 Regulation makes MRP discussion difficult: Leitch
09 Apr 2013 Price growth slowing but no let-up in sight for first-home buyers: QV
09 Apr 2013 Auckland businesses should look to the regions: Chamber
08 Apr 2013 Low OCR may not be a sure bet: RBNZ
08 Apr 2013 Kiwibank's 4.79% offer ends
08 Apr 2013 Boutique not necessarily small
08 Apr 2013 Harbour Monthly Commentary: In a more normal world?
08 Apr 2013 Auckland plan offered DIY-style
08 Apr 2013 House prices a concern: Reserve Bank
07 Apr 2013 Listings pressure stays on: Realestate.co.nz
05 Apr 2013 MRP shares may sell for up to $2.80
05 Apr 2013 Fisher settles TOWER buy
05 Apr 2013 [Weekly Wrap] Mighty River Share price revealed
05 Apr 2013 Why insurance advisers should care about the Credit SaILS report
05 Apr 2013 Advisers ask: Are qualifications worthless?
05 Apr 2013 Newland picks Pokeno for investors
04 Apr 2013 Non-bank lenders under review
04 Apr 2013 Insurer pays out $160,000 for surgery
04 Apr 2013 Tyndall Monthly Commentary: Does Cyprus Really Matter?
04 Apr 2013 Lo-doc for Christchurch
04 Apr 2013 Lo-doc lending for Christchurch
04 Apr 2013 Lo-doc for Christchurch
04 Apr 2013 No need for fewer resolution services: FSCL
04 Apr 2013 Million-dollar sales pick up
03 Apr 2013 Brook: New Zealand Electrical Utilities
03 Apr 2013 Web to unpick: Administrators
02 Apr 2013 Credit Union Insurance licensed
02 Apr 2013 TOWER sale settles
02 Apr 2013 RaboDirect appoints new BDA for Key Account Services
02 Apr 2013 Latest lending numbers
02 Apr 2013 Terry Butler dies
02 Apr 2013 TFAS advisers' role unchanged: TOWER
02 Apr 2013 Security questions raised over open homes
01 Apr 2013 Pathfinder Monthly Commentary: Don’t hedge currency exposures – part 2
March 2013
31 Mar 2013 Morgan ends his investment business involvement
29 Mar 2013 Waterfront investment opportunity “once-in-a-lifetime”
28 Mar 2013 Mortgages hit new high
28 Mar 2013 [Weekly Wrap] How much is advice worth?
28 Mar 2013 Lifetime changes
28 Mar 2013 Battle in the three-year term
28 Mar 2013 House building down
28 Mar 2013 Housing crisis will get worse: Alexander
28 Mar 2013 Signs point up for prices: ANZ
27 Mar 2013 LM seeking new loans
27 Mar 2013 The Co-operative Bank's latest changes
27 Mar 2013 RBNZ proposal may increase rates; Bank customers on the move
27 Mar 2013 International small firms on offer to investors
27 Mar 2013 Customers switch banks at twice normal rate
27 Mar 2013 Variable Annuities – An Analysis of Financial Stability
27 Mar 2013 Waikato lifestyle beckons for city folk
27 Mar 2013 No sign of improvement in Canterbury shortage
26 Mar 2013 Unpicking LM will take months: Administrators
26 Mar 2013 Shareholders open to sale: Pinnacle
26 Mar 2013 Increased capital requirements 'could make loans more expensive'
26 Mar 2013 BNZ cuts long rates: RBNZ proposal may increase rates
26 Mar 2013 Sovereign boss: Don't fear banks
26 Mar 2013 Crockers reports price, turnover increase
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