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June 2012
29 Jun 2012 'It's cheaper' a dangerous phrase for advisers
29 Jun 2012 Ring-fencing 'may be just the beginning'
29 Jun 2012 Building consents continue upward trend
28 Jun 2012 Receivers to get Nathans directors' $885,000 reparations
28 Jun 2012 Adviser book values boosted by sales drought
28 Jun 2012 Bumper quarter for lending
28 Jun 2012 Supreme Court decision ends leaky-home bids
28 Jun 2012 Top auctioneer named
27 Jun 2012 March a bumper quarter for mortgage lending; quake hits SBS's book
27 Jun 2012 NZ Super Fund v Aust funds. Which has done better?
27 Jun 2012 Too much huffing and puffing over house prices
27 Jun 2012 Get set for do-upper boom
27 Jun 2012 Buyers want any colour, so long as it's green
26 Jun 2012 Former OnePath man joins Westpac
26 Jun 2012 New RBNZ governor revealed
26 Jun 2012 Graeme Wheeler to replace Bollard at Reserve Bank's helm
26 Jun 2012 Time for a fix
26 Jun 2012 FMA takes hard line on KiwiSaver advice
26 Jun 2012 Time to stop bubble babble
26 Jun 2012 Reform bill a good move: Association
26 Jun 2012 'Buyers' pack' will help investors
25 Jun 2012 Strong support for compulsory KiwiSaver
25 Jun 2012 IFA calls for controversial rule to be scrapped
25 Jun 2012 Westpac switches position
25 Jun 2012 Rates round-up: June 25
25 Jun 2012 Adviser appointed to chair AdviceFirst
25 Jun 2012 You've gotta know your numbers
25 Jun 2012 News Round Up: June 26
25 Jun 2012 Number of private sales drops slightly: Trade Me
25 Jun 2012 Fix mortgages now: Westpac
24 Jun 2012 Why best products aren’t always best
22 Jun 2012 [Weekly wrap] Educators in the news
22 Jun 2012 Two gone in Tower management reshuffle
22 Jun 2012 Non-pharmac focus part of Accuro’s adviser push
22 Jun 2012 Devon adds portfolio manager
22 Jun 2012 New non-bank lender arrives
22 Jun 2012 Flow of migrating Kiwis eases
22 Jun 2012 Signs point up for property prices: ANZ
21 Jun 2012 Resimac and Loan Market launch NZ joint-venture
21 Jun 2012 What do you thinks is happening in the property market?
21 Jun 2012 Financial literacy tutors lacking financial knowledge
21 Jun 2012 Kiwibank best for first-timers: Report
20 Jun 2012 New bank gets new CEO
20 Jun 2012 Co-operative Bank grows mortgage book, gains new CEO
20 Jun 2012 Olly Newland on house prices
20 Jun 2012 Role of advice missing from savings debate
20 Jun 2012 New director for Triplejump
20 Jun 2012 Bank discounts not a right: Ombudsman
20 Jun 2012 More sales but prices stagnant in provinces
19 Jun 2012 Govt changes blamed for educator's downfall
19 Jun 2012 More signs of rate rises
19 Jun 2012 No surprise property finding favour
19 Jun 2012 Residential investment not best bet: Hawes
18 Jun 2012 Defining your own regulation
18 Jun 2012 News Round Up: June 16
18 Jun 2012 Spicers gets new MD
18 Jun 2012 Increased house sales not just about interest rates
18 Jun 2012 'New' breed of advice anything but
18 Jun 2012 Rates round-up: June 18
18 Jun 2012 Heritage properties face 500% increase in insurance bills
18 Jun 2012 Prices set to rise further: Newland
15 Jun 2012 [Weekly Wrap] Catching the cowboys
15 Jun 2012 What the OCR news means for home loans
15 Jun 2012 The benefits of being a QFE adviser
15 Jun 2012 Auckland rent rises outstrip rest of country
15 Jun 2012 More sales? Don't blame the interest rates: Harcourts
15 Jun 2012 It's a seller's market: Survey
14 Jun 2012 NZ Super Fund yet to reach benchmark
14 Jun 2012 GFNZ (Geneva Finance) narrows annual loss
14 Jun 2012 Pie grows with new appointment
14 Jun 2012 Bollard keeps rates on hold; OCR cut an outside chance
14 Jun 2012 OCR unchanged at 2.5 percent
14 Jun 2012 Reserve Bank's Bollard holds OCR steady
14 Jun 2012 Flat fee advice model ‘rubbish’
14 Jun 2012 What will the Gov do?
14 Jun 2012 Bollard keeps rates on hold; OCR cut an outside chance
14 Jun 2012 More vendors choose auctions: REINZ
13 Jun 2012 Stewart resigns from ACC
13 Jun 2012 Is this a sign of things to come?
13 Jun 2012 No dispute over mortgagee figures: Helm
12 Jun 2012 New analyst appointment at Harbour
12 Jun 2012 Majority of KiwiSavers facing shortfall, irrespective of fund choice
12 Jun 2012 Prices almost as high as they've ever been, experts agree
12 Jun 2012 REINZ May 2012 regional review
12 Jun 2012 100-year-old problem for advisers
12 Jun 2012 Who is forcing mortgagee sales?
12 Jun 2012 Property investment safe bet with so many MPs on side
12 Jun 2012 Buyers get heavy discount at mortgagee sales
11 Jun 2012 SFO charges adviser with $5 million fraud
11 Jun 2012 Interest rate poll results plus survey
11 Jun 2012 News Round Up: June 11
11 Jun 2012 Policy documents must improve
11 Jun 2012 Rates round-up: June 11
11 Jun 2012 OCR to stay low: Poll
10 Jun 2012 Markets still pricing in interest rate cut
09 Jun 2012 Big banks drive mortgagee sales: Terralink
08 Jun 2012 Partners Life adds a CFO
08 Jun 2012 [Weekly Wrap] Fees and resignations
08 Jun 2012 Fund manager fee disparity questioned
08 Jun 2012 What do you think will happen with interest rates?
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