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November 2012
26 Nov 2012 Mike Pero Mortgages value revealed
26 Nov 2012 How much is Mike Pero Mortgages worth now?
26 Nov 2012 North Shore rental properties are city's most expensive
26 Nov 2012 Councillor slams penalty fee "rip-off"
23 Nov 2012 Where will the 2013 IFA conference be held?
23 Nov 2012 Morgan's replacement at GMI named
23 Nov 2012 [Weekly Wrap] Loophole needs closing
23 Nov 2012 Advisers face ‘high hurdle’ with alternatives
23 Nov 2012 Trans-Tasman super portability a reality
23 Nov 2012 Kiwibank adds new special rate
23 Nov 2012 Partners’ fall in medical business ‘lower than anticipated’
23 Nov 2012 REINZ urges caution after ruling
23 Nov 2012 Policy may not be good deal: Hargreaves
22 Nov 2012 Kiwibank launches 6 month special
22 Nov 2012 Ross out of hospital
22 Nov 2012 Banks are advisers’ number one enemy: Yeo
22 Nov 2012 Low rates driving prices: ANZ
21 Nov 2012 Website pours out leads, and closes
21 Nov 2012 Home loan lending helps bank stability
21 Nov 2012 Search engine ‘minefield’ for advisers
21 Nov 2012 [UPDATED] A cut - at last
21 Nov 2012 Restrict foreign buyers: Greens
20 Nov 2012 Maori savings initiative
20 Nov 2012 Private equity delivers
20 Nov 2012 Ross exposes hole in financial adviser law
20 Nov 2012 Chch quakes boost awareness of buying cover
20 Nov 2012 When does a life policy really expire?
20 Nov 2012 Capital gains tax won't work: ACT
20 Nov 2012 Hint of xenophobia in concern at foreign buyers
19 Nov 2012 SFO investigating Ross Asset Management
19 Nov 2012 Rates round-up: November 19
19 Nov 2012 Bank profits not as big as reported: BNZ
19 Nov 2012 Fund managers spooked by Ross debacle
19 Nov 2012 Kiwis think it's a good time to buy, but not in Auckland
19 Nov 2012 Property Council: More analysis needed
18 Nov 2012 Our profits are misunderstood: Bank
18 Nov 2012 Rental properties and cheaper houses in Labour's sights
18 Nov 2012 Northern lifestyle blocks popular
16 Nov 2012 [Weekly Wrap] Where's the money gone?
16 Nov 2012 No Byrne on the Couch
16 Nov 2012 Laggard advisers told to sharpen up on RI
16 Nov 2012 Restrictions on bank LVRs
16 Nov 2012 Auckland nears housing boom: Alexander
16 Nov 2012 Address affordability now: BNZ
16 Nov 2012 Labour slams Hobsonville move
15 Nov 2012 Massive shortfall of funds at Ross Asset Management
15 Nov 2012 AMP caught up in adviser dispute
15 Nov 2012 Equities boost KiwiSaver growth funds
15 Nov 2012 Lifestyle market firming: REINZ
15 Nov 2012 LVR restrictions could work: NZPIF
14 Nov 2012 Health insurance discount - with a catch
14 Nov 2012 Residental property again #1
14 Nov 2012 Life-cycle funds no substitute for advice
14 Nov 2012 Advisers asked to help default review
14 Nov 2012 Rental property regains top spot with investors
14 Nov 2012 Trust law under Commission spotlight
14 Nov 2012 Labour calls for capital gains tax
13 Nov 2012 Grant Thornton adds bank adviser to ranks
13 Nov 2012 Banks lending up to 95%
13 Nov 2012 Advisers warned to watch what they write
13 Nov 2012 Govt meddling puts economy at risk
12 Nov 2012 Rates round-up: November 12
12 Nov 2012 AFA qualification bar stays at level 5
12 Nov 2012 Home loan rates go up
12 Nov 2012 Hamilton market heating up: Agency
12 Nov 2012 High LVR loans come with warning
09 Nov 2012 How's your bank?
09 Nov 2012 New IFA CEO named
09 Nov 2012 IFA reveals new CEO
09 Nov 2012 Resimac offers special launch rates
09 Nov 2012 [Weekly Wrap] Ross failure leaves questions
09 Nov 2012 Ticket-clipping organisations under fire
09 Nov 2012 New lender; Westpac gets down with its competitors
09 Nov 2012 Prices creeping up even in sellers' markets: Survey
09 Nov 2012 New record average house price: REINZ
08 Nov 2012 TNP rolls out its own CRM
08 Nov 2012 No commission cuts, says Tower Medical’s new owner
08 Nov 2012 RBNZ backs off LVR limits
08 Nov 2012 LVR limits off the table (for now)
08 Nov 2012 Workplaces the next battleground for advisers
08 Nov 2012 Interest rate predictions divide pundits
08 Nov 2012 Commercial property returns improving
07 Nov 2012 Magellan announces growth in FUM
07 Nov 2012 BNZ's new rates
07 Nov 2012 KiwiSaver guidance could be challenged in court
07 Nov 2012 Housing affordability measures won't work: Newland
06 Nov 2012 Insurance is increasingly important to older clients
06 Nov 2012 Ross in hospital as managers appointed
06 Nov 2012 Westpac CEO on rate rise
06 Nov 2012 New software to weed out dodgy clients
06 Nov 2012 Wellington property owners asked about strengthening costs
06 Nov 2012 Housing affordability plan misses hidden costs
06 Nov 2012 Sale proceeds donated to charity
05 Nov 2012 KiwiSaver contributions increase enacted
05 Nov 2012 FMA investigating asset management firm
05 Nov 2012 AMP platform locked to non-aligned advisers
05 Nov 2012 New record average house price for Auckland: Barfoot
05 Nov 2012 LVR restrictions not enough: ASB
02 Nov 2012 FMA probes boutique manager
02 Nov 2012 Sovereign claims top award
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