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December 2012
18 Dec 2012 From China for Super Fund
18 Dec 2012 Home loan market too hot for Public Trust
18 Dec 2012 $60m settlement in Credit Sails debacle
18 Dec 2012 Extra care needed when purchasing apartments
18 Dec 2012 Free seminars for landlords
18 Dec 2012 Landlords reminded of holiday requirements
17 Dec 2012 Heartland becomes a bank
17 Dec 2012 Charging fees in risk advice
17 Dec 2012 NZ's newest bank
17 Dec 2012 Ross investors claim FMA ‘conflict of interest’
17 Dec 2012 Kiwibank cuts long; ANZ special gone
17 Dec 2012 AIA adds COO
17 Dec 2012 Rates round-up: December 17
17 Dec 2012 Second developer sentenced to home detention
17 Dec 2012 Harcourts reports strong sales lift
14 Dec 2012 OnePath records 500k members
14 Dec 2012 Mortgage fraudster sent to jail
14 Dec 2012 Coplestone goes Batty
14 Dec 2012 [Weekly Wrap] This week has been about clauses not Santa Claus
14 Dec 2012 Call for more prescriptive adviser regulation
14 Dec 2012 Market cooling: BNZ/REINZ survey
14 Dec 2012 Reporting rules simplified: Dunne
13 Dec 2012 NZ Home Loans cracks a record
13 Dec 2012 NZ Home Loans hits $1 bill mark
13 Dec 2012 Fate of exempted AFAs undecided
13 Dec 2012 Australian buyers keen on Kiwi apartments
13 Dec 2012 Hamilton market strengthening: Agency
12 Dec 2012 Avanti Finance fined $15,000
12 Dec 2012 Cullen calls for major KiwiSaver changes
12 Dec 2012 More discussion on fund managers
12 Dec 2012 Ex-adviser jailed for six years for fraud
12 Dec 2012 Earthquake proposals
11 Dec 2012 Madoff whistle blower visiting NZ
11 Dec 2012 Blame flies in AMP adviser dispute
11 Dec 2012 Strongest monthly sales volume in five years
11 Dec 2012 Tools must be deployed with caution
11 Dec 2012 Auckland prices 10% above last peak: QV
10 Dec 2012 Harbour Monthly Commentary: Theme watch in investment markets
10 Dec 2012 Perpetual sale this week
10 Dec 2012 Less comeback for non-adviser Ross referrals
10 Dec 2012 Fixing good value: Westpac
07 Dec 2012 NZ Super Fund scoops award
07 Dec 2012 [Weekly Wrap] More questions about Ross
07 Dec 2012 FSC committee to probe ‘viability’ of adviser distribution
07 Dec 2012 What we learnt about interest rates yesterday
07 Dec 2012 Auckland sellers get close to asking price
07 Dec 2012 Dumb lending caused bubble: RE/Max chief
07 Dec 2012 High-rise apartment buildings in Govt sights
06 Dec 2012 RBNZ talks about new tools
06 Dec 2012 The OCR ain't going anywhere
06 Dec 2012 No OCR cut on horizon
06 Dec 2012 OCR unchanged
06 Dec 2012 Advisers in the gun over Ross investments
06 Dec 2012 Wheeler says appropriate to keep OCR at 2.50%
06 Dec 2012 Ross Asset Management in liquidation
06 Dec 2012 OCR announcement 'good news for borrowers'
05 Dec 2012 How profitable are our banks really?
05 Dec 2012 Ross exempt from ‘most demanding’ AFA standard
05 Dec 2012 New record house price for Auckland
05 Dec 2012 Housing market strengthening: Westpac
04 Dec 2012 The top stock picks for next year
04 Dec 2012 Wheeler denies bank bias
04 Dec 2012 Online KiwiSaver site back again
04 Dec 2012 TOWER Health sale done
04 Dec 2012 More houses needed
04 Dec 2012 Ross liquidation continues
04 Dec 2012 Flawed strategy from commentator
03 Dec 2012 Tyndall Monthly Commentary:Looking beyond the fiscal cliff
03 Dec 2012 The problem with decumulation products
03 Dec 2012 What's your supermarket special to clients?
03 Dec 2012 Not enough new listings: Realestate.co.nz
03 Dec 2012 Aging tipped to hit regional house prices
02 Dec 2012 Ross's disclosure document
November 2012
30 Nov 2012 BT on the hunt for CIO
30 Nov 2012 What will happen to interest rates next week?
30 Nov 2012 Rates held, but growing chance of a cut
30 Nov 2012 Mixed views on dispute scheme merger
30 Nov 2012 [Weekly Wrap] Awards take a hammering
30 Nov 2012 Politicians debate affordability
30 Nov 2012 Building activity picks up pace
30 Nov 2012 RE/MAX announces buyout
29 Nov 2012 Premium increase boosts Tower profit
29 Nov 2012 FSCL talks about Ross Asset Management
29 Nov 2012 ANZ named Bank of the Year
29 Nov 2012 Rangatira's stake in Partners
29 Nov 2012 ANZ looks to grow adviser numbers
29 Nov 2012 BNZ cuts rates and withdraws others; net result an increase
29 Nov 2012 Housing affordability up
28 Nov 2012 Aust govt moves to protect financial advisers
28 Nov 2012 Perpetual - Sold by Christmas
28 Nov 2012 Guardian Trust grows team
28 Nov 2012 Watch out for bad tenants: Poll
27 Nov 2012 Questions over Mike Pero valuation
27 Nov 2012 Frozen fund's unit price fall revealed
27 Nov 2012 Questions over Mike Pero valuation
27 Nov 2012 Another boost to property love affair
27 Nov 2012 Buyers scope out Northland opportunities
26 Nov 2012 Heartland bank decision pushed back
26 Nov 2012 Rates round-up: November 26
26 Nov 2012 A well trodden path to victory
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