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February 2013
15 Feb 2013 Solid apartments 'sought-after'
15 Feb 2013 Insurance cover change coming this year
14 Feb 2013 ASB identifies potential in insurance sales
14 Feb 2013 Kiwibank's "lowest-ever" rate
14 Feb 2013 Advisers fuming at AML proposal
14 Feb 2013 Survey reflects strong property market
13 Feb 2013 ASB: Focus on insurance sales
13 Feb 2013 Surprises await in application fine print
13 Feb 2013 LVR restrictions picked for Aucklanders
13 Feb 2013 AMP picks Mercer, drops Van Eyk
13 Feb 2013 Aucklanders may be hit with LVR restrictions: Poll
12 Feb 2013 New deputy for RBNZ
12 Feb 2013 Asteron to offer Best Doctors
12 Feb 2013 Southern Cross picks insurance rebound
12 Feb 2013 KiwiSaver gender gap concerns
12 Feb 2013 Asteron gets new underwriters
12 Feb 2013 Property price rise not just about shortage: Westpac
11 Feb 2013 Lender pursues Allied over $500k loan
11 Feb 2013 Harbour Monthly Commentary: The price is right in equities
11 Feb 2013 QV stats hide big discrepancies
11 Feb 2013 Westpac cuts rates
11 Feb 2013 'Natural' to buy wealth products direct
11 Feb 2013 Has compliance knocked the insurance adviser market?
11 Feb 2013 Milford expands team
11 Feb 2013 Smith tackles development charges
08 Feb 2013 Opposition to ‘life stages’ default funds
08 Feb 2013 [Weekly Wrap] Default advice
08 Feb 2013 Yield-chasing raises concern
08 Feb 2013 Rents up but yields down
08 Feb 2013 Green light for rebuild
07 Feb 2013 Growth funds lead
07 Feb 2013 Ross couldn't keep up with withdrawals: Receivers
07 Feb 2013 FATCA 'workable' for NZ super
07 Feb 2013 Strategic breaches likely: FMA
07 Feb 2013 Anyone can buy a house: NZPIF
07 Feb 2013 Prices will increase more quickly this year: Alexander
06 Feb 2013 Bank chases wealth customers
06 Feb 2013 Win for Partners Life
05 Feb 2013 Directors plead guilty
05 Feb 2013 ASB: Tools will be used to delay OCR hike
05 Feb 2013 Dollar may hit US90c
05 Feb 2013 Infratil buying back infrastructure bonds
05 Feb 2013 Free audit insurance a first: Brokerage
05 Feb 2013 Newpark nabs Sovereign man
05 Feb 2013 No let-up in housing market for years: ASB
05 Feb 2013 Barfoot reports strong January sales
05 Feb 2013 Poker faces over housing
04 Feb 2013 Different approach to target Asian market
04 Feb 2013 Pathfinder Commentary: Portfolio protection
04 Feb 2013 Appointment to target Indian community
04 Feb 2013 Tate: Advice more important than scheme
04 Feb 2013 Fund managers call for level playing field
04 Feb 2013 Desperate buyers turn to leaky homes
03 Feb 2013 Listings can't keep pace with interest: Realestate.co.nz
01 Feb 2013 Tyndall Monthly Commentary: Bondholders risk euthanasia
01 Feb 2013 BNZ picks KiwiSaver launch date
01 Feb 2013 From TOWER to NIWA
01 Feb 2013 Govt: No views yet on FAA
01 Feb 2013 Default status up to Govt
01 Feb 2013 Former AFA investigated
01 Feb 2013 Surge in lending growth for Kiwi banks
01 Feb 2013 [Weekly Wrap] To CPD or not to CPD?
01 Feb 2013 Commission ban 'inevitable'
01 Feb 2013 Wheeler calls for regulation reform
01 Feb 2013 Spicers loses National Investment Manager
01 Feb 2013 Apartments proposed for waterfront
01 Feb 2013 Fewer Kiwis leaving the country
January 2013
31 Jan 2013 OCR: What the economists said
31 Jan 2013 Hubbard payouts due in February
31 Jan 2013 Aussie advisers told: Commission disclosure optional
31 Jan 2013 Economists surprised by Wheeler's hawkish tone
31 Jan 2013 50% more advisers this year: Claim
31 Jan 2013 OCR on hold - as predicted
31 Jan 2013 Predictions come true
31 Jan 2013 Economists surprised by Wheeler's optimistic tone
31 Jan 2013 Newland: Best option? Do nothing
30 Jan 2013 What's an actuary worth?
30 Jan 2013 Green Party claims 'misguided'
30 Jan 2013 Fidelity GM of sales quits
30 Jan 2013 Don't get caught in social media web, advisers warned
30 Jan 2013 Director pleads guilty
30 Jan 2013 Leitch: Don't change the rules already
30 Jan 2013 Premium hike fears dismissed
30 Jan 2013 Newpark makes senior appointment
30 Jan 2013 Volatile apartments push consent figures up
29 Jan 2013 KiwiSaver buyouts a challenge for advisers
29 Jan 2013 Government questions RFAs' professionalism
29 Jan 2013 Emerging markets offer challenge, opportunity
29 Jan 2013 Tripe: Banks exposed
29 Jan 2013 OCR predictions for this week
29 Jan 2013 OCR to move this year: Economists
29 Jan 2013 Schemes benefit a lucky few
28 Jan 2013 RFA irked by CPD ‘scaremongering’
28 Jan 2013 The bittersweet experience of discovering a claim
28 Jan 2013 Shearer: No $300k houses in Auckland
25 Jan 2013 New job for ex-Tower Health boss
25 Jan 2013 Anderson a leader in insurance space
25 Jan 2013 [Weekly wrap] Conference controversy
25 Jan 2013 Is profit part of CPD?
25 Jan 2013 Rising rents next on politicians' agenda
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