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November 2012
02 Nov 2012 Tower sells health insurance business to nib
02 Nov 2012 [Weekly Wrap] TOWER sales start
02 Nov 2012 AMP brings infrastructure fund to NZ
02 Nov 2012 OCR low but not forever
02 Nov 2012 Sovereign triumphs
02 Nov 2012 How do you rate your bank?
02 Nov 2012 Alexander: House prices will keep rising
02 Nov 2012 Building consent figures continue to grow
02 Nov 2012 Confidence still improving: Realestate.co.nz
02 Nov 2012 HNZ fixes 212 Christchurch properties
01 Nov 2012 Marlin still hooked to Fisher
01 Nov 2012 Tyndall Monthly Commentary: USA buying now but will pay later
01 Nov 2012 Harbour Monthly Commentary: Second time lucky
01 Nov 2012 Harbour Australasian Equity Income Fund
01 Nov 2012 SIFA aims to reverse membership slump
01 Nov 2012 BNZ not targeting NBNZ customers
01 Nov 2012 BNZ latest to unveil results
01 Nov 2012 House prices will stay firm: Council
October 2012
31 Oct 2012 NZSA backs Marlin windup call
31 Oct 2012 FSC insurance advice claims rejected
31 Oct 2012 Battle for control of funds gets heated
31 Oct 2012 Kiwibank's credit rating cut
31 Oct 2012 Westpac move lacks goodwill
31 Oct 2012 Prospect of Govt meddling in market alarming
31 Oct 2012 Quake-hit homes still selling: REINZ
30 Oct 2012 Kiwibank credit rating cut
30 Oct 2012 New IFA ceo announcement imminent
30 Oct 2012 New AAA chief executive
30 Oct 2012 Planet Group expands
30 Oct 2012 Brokers the new competitors for advisers
30 Oct 2012 Government affordability proposals a mixed bag for investors
29 Oct 2012 Partners Life scoops two Westpac Business Awards
29 Oct 2012 Health insurance flat-lining
29 Oct 2012 Britannia appoints Hattersley to European BDM role
29 Oct 2012 Market taking ‘short-term’ view on resources
29 Oct 2012 Agent website a valuable tool: O'Sullivan
29 Oct 2012 Greens slam Govt affordability package
29 Oct 2012 Free eco-construction advice for developers
28 Oct 2012 Planet production subsidies
26 Oct 2012 Marlin defends Fisher Funds contract
26 Oct 2012 [Weekly Wrap] Room for two?
26 Oct 2012 Advisers to benefit from FATCA deal
26 Oct 2012 Floating rate rise riles customers
26 Oct 2012 Dec 6 will be telling for monetary policy
26 Oct 2012 Tenants compete for quality properties
25 Oct 2012 Brook Report: A drop (of milk) in the bucket
25 Oct 2012 Hint of optimism in OCR announcement
25 Oct 2012 Wheeler leaves OCR unchanged in his first statement
25 Oct 2012 New governor leaves OCR alone
25 Oct 2012 Clients ‘prefer’ fee-for-service advice
25 Oct 2012 Financial law expert hospitalised after freak blast
25 Oct 2012 Hint of optimism in OCR announcement
25 Oct 2012 Lower standards to boost affordability: Alexander
24 Oct 2012 Wheeler's first OCR announcement previewed
24 Oct 2012 KiwiSaver competition heating up
24 Oct 2012 Copycat association for RFAs
24 Oct 2012 New RBNZ governor not likely to wheel out rate cut
24 Oct 2012 Is now the time to buy back into Europe?
24 Oct 2012 Rent arrears: Who should pick up the bill?
24 Oct 2012 Landlords warned to hold off on seismic work
23 Oct 2012 Rates round-up: October 23
23 Oct 2012 Practical approaches to commission management
23 Oct 2012 Two associations look to merge
23 Oct 2012 Credit unions merge and drop fixed rates
23 Oct 2012 Debt collection could become much dearer
19 Oct 2012 Camelot adds adviser
19 Oct 2012 Take ratings with grain of salt: Neilson
19 Oct 2012 How to deal with irrational clients
19 Oct 2012 Lender no longer fixed, but floating along
19 Oct 2012 Auckland holds on to rental premium
19 Oct 2012 Banks loosen lending criteria
18 Oct 2012 [Weekly wrap] FMA sticks to its guns
18 Oct 2012 Housing market caught in vice
18 Oct 2012 Home loan rates may not fall much further
18 Oct 2012 NZ interest rates tipped to fall
18 Oct 2012 Aussie shares good value despite risks
18 Oct 2012 Investors offered rural opportunities
17 Oct 2012 Advice industry split on KiwiSaver rules
17 Oct 2012 Life coach convicted of mortgage fraud
17 Oct 2012 Kiwibank removes lending restrictions
17 Oct 2012 Commercial owners offered green cover
16 Oct 2012 Rate cut conditions improving
16 Oct 2012 Kiwibank removes special cap; BNZ says OCR can be lowered
16 Oct 2012 FMA confirms RFAs can sell KiwiSaver
16 Oct 2012 Newpark BDM joins TNP
16 Oct 2012 Best flats attract best tenants
16 Oct 2012 Bank questions housing market sustainability
15 Oct 2012 Home loan rates could be lower
15 Oct 2012 Rate withdrawn: ANZ's latest views
15 Oct 2012 Rates round-up: October 15
15 Oct 2012 Asia not as volatile as it seems
15 Oct 2012 Agent survey shows little change
15 Oct 2012 Renewal of leases pushes NPT value up
12 Oct 2012 Berry's back at Kiwibank
12 Oct 2012 Kiwibank extends earthquake package
12 Oct 2012 Local favourites fight for Perpetual
12 Oct 2012 Familiar cure for bank hangover
12 Oct 2012 Lifestyle market steady: REINZ
12 Oct 2012 Scarfies name worst flats
11 Oct 2012 [Weekly Wrap] Risk profiling: who's responsible?
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