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March 2013
25 Mar 2013 KiwiSaver insufficient: FSC
25 Mar 2013 SCF receivership wraps up
25 Mar 2013 Most of Perpetual sold
25 Mar 2013 'Opportunity there, if advisers can grab it'
25 Mar 2013 Rental warrants examined by minister
25 Mar 2013 'Plan action needed now'
24 Mar 2013 LM commission questions
24 Mar 2013 Ross investors must prove investment gains were fake
24 Mar 2013 Wilder to retire
22 Mar 2013 Kiwi banks ranked in top 25
22 Mar 2013 [Weekly Wrap] Is no news good news for shareholders?
22 Mar 2013 TOWER board grilled by shareholders
22 Mar 2013 Waikato adviser joins Plus4
22 Mar 2013 Wheeler should move rate now: Economist
22 Mar 2013 Vow not ruling out NZ
22 Mar 2013 Migration turnaround likely to boost prices
21 Mar 2013 TOWER: No life sale yet
21 Mar 2013 TOWER managing director steps aside
21 Mar 2013 'Opportunities in NZ shares, emerging markets'
21 Mar 2013 Newland: Consider shared equity scheme
20 Mar 2013 LM investors' fears for payout
20 Mar 2013 Brokers should make gimmicks irrelevant: McLeod
20 Mar 2013 IMF sounds bubble warning
20 Mar 2013 First-home changes suggested
20 Mar 2013 RFAs confused about AML rules
20 Mar 2013 Plan offers investors opportunities: NZPIF
19 Mar 2013 Regulation showing results: RBNZ
19 Mar 2013 Westpac matches ANZ
19 Mar 2013 Westpac joins the action
19 Mar 2013 Fund managers can’t outsource AML
19 Mar 2013 IMF issues bubble warning
19 Mar 2013 Under-building not a nationwide problem
18 Mar 2013 Fitch warns about high LVR lending
18 Mar 2013 Mint nabs former BT man for its board
18 Mar 2013 Missing clients a problem for advisers
18 Mar 2013 A rate fall before a hike
18 Mar 2013 Sovereign predicting growth
15 Mar 2013 ANZ cuts a rate but increases others
15 Mar 2013 Capital + Merchant directors sentenced
15 Mar 2013 Abano chief to chair Tower Medical
15 Mar 2013 [Weekly Wrap] Fixing the FSPR
15 Mar 2013 Yep, home loan rates go down
15 Mar 2013 Questions asked about DIMS
15 Mar 2013 Lower rates may be looming
15 Mar 2013 Apartment sales heralded as sign of confidence
14 Mar 2013 BNZ gets new head of wealth management
14 Mar 2013 No OCR change this year, lower mortgage rates possible
14 Mar 2013 OCR on hold: RBNZ
14 Mar 2013 RBNZ leaves OCR unchanged
14 Mar 2013 No change to the OCR
14 Mar 2013 Regulation leads to poor quality: Academic
14 Mar 2013 OCR on hold: RBNZ
14 Mar 2013 OLLY NEWLAND: Capital gains tax is not the answer
14 Mar 2013 Foreign fears over-hyped: Alexander
13 Mar 2013 Reserve Bank faces tricky decision tomorrow
13 Mar 2013 Interim Retirement Commissioner appointed
13 Mar 2013 Changes tipped for pension transfer regime
13 Mar 2013 Tools no substitute for OCR: Economists
12 Mar 2013 National Finance director sentenced
12 Mar 2013 FSP rules tightened
12 Mar 2013 Mercer manages conflict of interest risk
12 Mar 2013 RBNZ ponders re-insurance clampdown
12 Mar 2013 Sickness could destroy families: FSC
12 Mar 2013 Sales numbers up but pace slowing: REINZ
11 Mar 2013 Banks sued over fees
11 Mar 2013 Withers appointed to ANZ
11 Mar 2013 Free TV latest bank carrot
11 Mar 2013 Niko: Media acting without thinking on Mighty River accusations
11 Mar 2013 OCR tipped to stay on hold but changes loom
11 Mar 2013 OCR tipped to stay on hold but changes loom
11 Mar 2013 TSB takes on KiwiSaver without AFAs
11 Mar 2013 Fund researcher eyeing NZ
11 Mar 2013 REINZ sells headquarters
10 Mar 2013 Sovereign rating affirmed
08 Mar 2013 Hubbard investors get another payout
08 Mar 2013 Lessons for the finance sector
08 Mar 2013 Product News: Sovereign
08 Mar 2013 [Weekly Wrap] The value of advice
08 Mar 2013 Former Hunter Hall managers' new fund
08 Mar 2013 More openess from the RBNZ
08 Mar 2013 Reserve Bank increases communication
08 Mar 2013 Price momentum spreading: QV
07 Mar 2013 ComCom slams Forbarr over Credit Sails
07 Mar 2013 Harbour Monthly Commentary: Finding value in corporate bonds
07 Mar 2013 New tool to sort home loan rates
07 Mar 2013 Rumours swirl about TOWER Life sale
07 Mar 2013 Managed fund boom good for advisers
07 Mar 2013 Clamp down on foreign buyers: Alexander
06 Mar 2013 Fraud case a one-off: AMP
06 Mar 2013 Complaints rise - along with lending volumes
06 Mar 2013 Leitch: FMA looks set to crack down
06 Mar 2013 PM Capital's new man in NZ
06 Mar 2013 No magic formula for fees: IFA
06 Mar 2013 Pathfinder Monthly Commentary: don't hedge currency - ever!
06 Mar 2013 Building activity picking up
05 Mar 2013 Allied sells loan assets
05 Mar 2013 Ombudsman reports home loan lending complaints
05 Mar 2013 What do you think of the RBNZ's new tools?
05 Mar 2013 Ratings tool criticised
05 Mar 2013 Auckland vendors head to market: 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