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June 2012
08 Jun 2012 Water changes outrage landlords
07 Jun 2012 Westpac says empowering front-line staff fuels mortgage book growth
07 Jun 2012 How much you will pay to fund the FMA
07 Jun 2012 NZ shares fairly expensive: Glass
07 Jun 2012 SBS follows TSB down on two year term
07 Jun 2012 First-home buying never been easier: Broker
06 Jun 2012 IFA boss resigns
06 Jun 2012 IFA boss resigns
06 Jun 2012 Harbour commentary: Deja Vu: Europe on the Brink Again
06 Jun 2012 New CEO appointed for UDC Finance
06 Jun 2012 TSB takes two-year rate down
06 Jun 2012 Barfoot reports busiest May in seven years, record price
06 Jun 2012 Residential slowdown leads building slump
06 Jun 2012 Website puts focus on eco-homes
05 Jun 2012 RFAs warned against ‘dangerous’ KiwiSaver game
05 Jun 2012 Advisers lack ‘persuasive message’ around KiwiSaver
05 Jun 2012 GFNZ to release new prospectus; S&P puts it on negative credit watch
05 Jun 2012 Cheap not necessarily best
05 Jun 2012 Tyndall Monthly Commentary
05 Jun 2012 TSB grows loan book on higher LVR business
05 Jun 2012 Why China’s rise favours NZ over Oz
05 Jun 2012 Westpac and TSB's loan books in the spotlight
05 Jun 2012 Rates round-up: June 5
05 Jun 2012 Buyers queue for quake-hit properties
04 Jun 2012 Koh replaced on IFA board
01 Jun 2012 Westpac's mortgage book resumed aggressive growth in March Qtr
01 Jun 2012 Big role for former NZ manager
01 Jun 2012 Listings surge a winter warmer for property market
01 Jun 2012 [Weekly wrap] Thorny issues for advisers
01 Jun 2012 Sovereign survey to help grow group cover
01 Jun 2012 Boutiques go it alone - but not on distribution
01 Jun 2012 Rate cutting stimulates housing market
01 Jun 2012 Loans for first home buyers cut
01 Jun 2012 Govt plans cuts to accommodation supplement
01 Jun 2012 Apartments back in vogue
May 2012
31 May 2012 Reserve Bank data show mortgage cuts stimulating activity
31 May 2012 Kiwibank's mortgage book grows fast but momentum slips
31 May 2012 One bank up; another not so good
31 May 2012 Why financial advisers should do CPD
31 May 2012 Tenants warned of scams
30 May 2012 NZF Group posts $16.2 m annual loss
30 May 2012 Labour eyes locking KiwiSaver funds in NZ
30 May 2012 Kiwibank claims win with rate campaign
30 May 2012 HSBC mortgage book shrinkage
30 May 2012 The OCR may actually fall this year
30 May 2012 Has FMA picked the wrong target?
30 May 2012 Housing consents suffer from April fall
29 May 2012 An outside chance of an OCR cut this year
29 May 2012 Who knows where rates are heading?
29 May 2012 Cold calling cleared (with a catch)
29 May 2012 No housing bubble: REINZ
28 May 2012 AIA targets over-30s with price cuts
28 May 2012 All systems go for property investors
28 May 2012 ANZ's best quarter since 2007 hard work: Thompson
28 May 2012 Are you a broker?
28 May 2012 Rates round-up: May 28
28 May 2012 First up this week is Westpac
28 May 2012 Blue Star's major shareholder starts debt-to-equity process
28 May 2012 Where will the next Apple will drop
28 May 2012 News Round Up: May 28
28 May 2012 Tax changes not likely to impact holiday house prices
28 May 2012 Which MPs are property investors?
25 May 2012 Tower’s insurance results a mixed bag
25 May 2012 ANZ has best quarter in mortgage market since 2007
25 May 2012 Tower appoints two independent directors
25 May 2012 [Weekly wrap] Apples v apples
25 May 2012 ASB cuts 6 and 18 month rates
25 May 2012 New reporting standards for all funds predicted
25 May 2012 Treasury isn't predicting a large pick up in house prices
24 May 2012 Fisher & Paykel Finance beats profit forecast with 8.9% rise
24 May 2012 KiwiSaver auto-enrolment delay disappointing
24 May 2012 Sovereign appoints new General Operations Manager
24 May 2012 MDRT Minute: Take the First Step
24 May 2012 Last waltz for the one-man-band
24 May 2012 Pausing for breath
24 May 2012 ASB Bank's mortgage book growths for first in 8 quarters
23 May 2012 BNZ's March Qtr new mortgage growth slowest in two years
23 May 2012 Minister tells industry FMA fees will be comfortable
23 May 2012 It's HSBC, BNZ and Co-op bank's turn
22 May 2012 Churn is different to replacement: Partners says
22 May 2012 Further evidence OCR won't rise soon as inflation expectations fall
22 May 2012 Further evidence OCR won't rise soon as inflation expectations fall
22 May 2012 BNZ to redeem $350m of bonds early, offer other investments
22 May 2012 Tyndall hooks up with Goldman Sachs
22 May 2012 More specials
22 May 2012 Low interest rates help term deposits take a tumble
22 May 2012 Love affair with property rekindled
21 May 2012 Auckland house price rise gap narrows on rest of country
21 May 2012 Fisher confirms departure of international managers
21 May 2012 NZF Group: receivers won't let it pay interest on capital notes
21 May 2012 News Round Up: May 21
21 May 2012 Rates round-up: May 21
21 May 2012 Advisers losing favour with KiwiSaver investors
21 May 2012 More home loan rate cuts to come
21 May 2012 Winter the time to list
20 May 2012 ANZ National Bank go lower
18 May 2012 TNP sales school sees 91% industry ‘stickability’
18 May 2012 Rich rewards for borrowers
18 May 2012 Roest jailed for six and a half years
18 May 2012 New funds firm established
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