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August 2012
30 Aug 2012 Heartland to give residential lending the flick
30 Aug 2012 Heartland leaves home loans to the banks
30 Aug 2012 TNP hooks up with Aussie firm
30 Aug 2012 Salvation Army weighs in on affordability
29 Aug 2012 Quake shakes up SBS book
29 Aug 2012 Insurance advisers face non-Pharmac poser
29 Aug 2012 Commission ban no big deal
29 Aug 2012 SBS mortgage book shrinks again
29 Aug 2012 Construction work picks up pace
29 Aug 2012 Westpac offers online house hunting tool
28 Aug 2012 Making sense of ASB's strategy
28 Aug 2012 Perpetual challenges FMA raids
28 Aug 2012 Not installers' right to limit access
28 Aug 2012 Take care with water charges: MoBIE
27 Aug 2012 Investor surprised by lack of adviser lawsuits
27 Aug 2012 Different home loan strategies
27 Aug 2012 GFNZ has new funding line and to complete repayment to former Geneva debentureholders
27 Aug 2012 Loan will be repaid: SPI
27 Aug 2012 ASB & Co cut rates
27 Aug 2012 Insurance warning for investors
27 Aug 2012 Syndicated sale of bank building sells out
26 Aug 2012 Rates round-up: August 26
24 Aug 2012 Price of Morgan's KiwiSaver business revealed
24 Aug 2012 TSB's 15 month rate
24 Aug 2012 [Weekly wrap] Morgan's KiwiSaver pocket money
24 Aug 2012 FMA monitoring not just for AFAs
24 Aug 2012 Prices will keep rising: Economist
23 Aug 2012 Kiwibank's life insurance aspirations
23 Aug 2012 Fisher & Paykel Finance lifts profit 6.9% in four months ended July
23 Aug 2012 S&P slashes GFNZ credit rating to "currently highly vulnerable"
23 Aug 2012 Syndicate wind-up plan opposed
23 Aug 2012 Ground rent debate subdues prices
22 Aug 2012 BNZ and Kiwibank tell their stories
22 Aug 2012 SFO to appeal Capital + Merchant verdict
22 Aug 2012 BNZ's mortgage book growth losing momentum, profit jumps
22 Aug 2012 Kiwibank's mortgage growth momentum slows; need $200m in fresh capital
22 Aug 2012 Workplace financial advice a ‘loss leader’
22 Aug 2012 AMP's new business levels hammered
22 Aug 2012 Westie property market springs into life
22 Aug 2012 Apps changing house hunt
21 Aug 2012 Businesses and households expect subdued inflation
21 Aug 2012 CPD courses come under scrutiny
21 Aug 2012 ANZ sets home loan record
21 Aug 2012 Over-valued houses mean nothing for prices: Alexander
21 Aug 2012 All this draught is daft
20 Aug 2012 New life business bounces back
20 Aug 2012 Tyndall appoints new analyst
20 Aug 2012 ANZ sets record for home loans
20 Aug 2012 Rates round-up: August 20
20 Aug 2012 Minister surprised by lack of draw-down products
20 Aug 2012 Housing market to remain sketchy: ANZ
20 Aug 2012 Affordability efforts need to broaden focus: ANZ
20 Aug 2012 Low-doc lending finding favour again
17 Aug 2012 RIIA executive director to step down
17 Aug 2012 ANZ and National banks move rates
17 Aug 2012 Feeling busy?
17 Aug 2012 [Weekly wrap] Measuring up advice standards
17 Aug 2012 The high life for five-star Partners and Fidelity
17 Aug 2012 Government flunks own advice standards
17 Aug 2012 Pegasus Town in liquidation
17 Aug 2012 Property market consolidating: ANZ
16 Aug 2012 Partners Life joins the Financial Services Council
16 Aug 2012 AMP's premium income up
16 Aug 2012 Rodney Hartles responds to judgment
16 Aug 2012 ASB's branded home loans grow
16 Aug 2012 Problems with pension transfer tax proposal
16 Aug 2012 Savings confidence drops despite KiwiSaver growth
16 Aug 2012 ASB comments on home loans
16 Aug 2012 Mortgage enquiries up 50 per cent
16 Aug 2012 Regional Review: Porirua pulse
15 Aug 2012 Blue Star to keep bondholders in the dark after doing their dough
15 Aug 2012 Dorchester noteholders approve early discounted buyback
15 Aug 2012 The risks of pro bono work
15 Aug 2012 Calling all property investors
15 Aug 2012 Number of Auckland industrial vacancies drops
15 Aug 2012 No property boom yet: Realestate.co.nz
15 Aug 2012 Acquisition tipped to push transtasman collaboration
14 Aug 2012 Lifestyle lures Aussie adviser across the Tasman
14 Aug 2012 Former Barclays man to head up Public Trust
14 Aug 2012 Kiwibank challenged; One little change
14 Aug 2012 Kiwibank's home loan guarantee challenged
14 Aug 2012 Guest blog: Time to sort water issues once and for all
14 Aug 2012 Housing confidence steady, but higher prices tipped: ASB
14 Aug 2012 Lifestyle blocks finding favour
13 Aug 2012 Insurers failing to innovate
13 Aug 2012 Olympics end; Special goes
13 Aug 2012 The adviser as translator
13 Aug 2012 Rates round-up: August 13
13 Aug 2012 IRG sells Tauranga advice business
13 Aug 2012 Auckland holds on to rent and price premium: MoBIE
13 Aug 2012 'No case to answer' in Queenstown complaint
12 Aug 2012 Block houses open to view
10 Aug 2012 ASB takes lead in two-year space
10 Aug 2012 [Weekly wrap] A new precedent
10 Aug 2012 Kiwibank KiwiSaver to operate under GMI brand
10 Aug 2012 Court rules adviser personally liable and increases award
10 Aug 2012 Rest of country will catch up to Auckland: Westpac
09 Aug 2012 New chair for Code Committee
09 Aug 2012 Blue Chip investors win Supreme Court victory
09 Aug 2012 Kerry Buddle pleads guilty to non-broking related charges
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