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November 2011
14 Nov 2011 Bollard warns of economic risks to NZ
14 Nov 2011 Little good news in latest Strategic Finance report
14 Nov 2011 Sorting the star from the slum landlords
11 Nov 2011 Contact increases 30-year bond issue to a maximum $250 million
11 Nov 2011 House prices up $9,000 in October
11 Nov 2011 Is fixed the way to go?
11 Nov 2011 The lure of attractive fixed home loan rates
11 Nov 2011 Sued adviser tripped up by paperwork
11 Nov 2011 REINZ Regional Commentaries – October 2011
10 Nov 2011 Registered but unable to give insurance advice
10 Nov 2011 Cookie-cutter ABS’s uncovered by first FMA monitoring
10 Nov 2011 Investors still active in capital, Hutt Valley, muted elsewhere
10 Nov 2011 Buy the Cashfow forecaster CD
09 Nov 2011 Mark Brighouse role no more rumour
09 Nov 2011 HSBC lowers its fixed rates
09 Nov 2011 KiwiSaver fee focus a ‘red herring’
09 Nov 2011 KiwiSaver increasingly retirement saving vehicle of choice
09 Nov 2011 Property prices up nationwide, parts of Auckland above 2007 peak
09 Nov 2011 QV October 2011 - the regions
09 Nov 2011 Investor confidence in rental property at decade low
08 Nov 2011 No implicit Govt guarantee with public KiwiSaver
08 Nov 2011 Perpetual adds two to its Wellington team
08 Nov 2011 Heartland holds excess cash ahead of government guarantee expiry
08 Nov 2011 FPSB appoints new chair, directors
08 Nov 2011 FMA begins offering advisers post-monitoring feedback
08 Nov 2011 SBS pitches for two year business
07 Nov 2011 New adviser and business owner at Mortgage Link
07 Nov 2011 Infratil launches $50m five-year bonds with 8% coupon
07 Nov 2011 Greens KiwiSaver policy nice idea but...
07 Nov 2011 Now the home loan battle begins
06 Nov 2011 Greens say they can lower KiwiSaver fees 40%
04 Nov 2011 KiwiSaver not too big for sharemarket (yet)
04 Nov 2011 Early appointments at AMP/AXA
04 Nov 2011 Caught out and cut
04 Nov 2011 Regulation poses relevancy challenges for professional bodies
04 Nov 2011 Auckland sales down, listings and prices up
03 Nov 2011 Loftus takes on risk management role
03 Nov 2011 RWC finishes; rate war battle commences
03 Nov 2011 Persistency the key in new OnePath remuneration model
03 Nov 2011 FMA preparing guidance for share recommendations
03 Nov 2011 BNZ arrives
03 Nov 2011 October sales rise but enquiries hit by RWC, holidays and Greek tragedy
02 Nov 2011 Harbour Commentary: Holes in the lifeboat
02 Nov 2011 Contact considers $150m subordinated bond issue
02 Nov 2011 Australian-invested funds underperform
02 Nov 2011 [UPDATED] Changes galore; ANZ National move
02 Nov 2011 Show me the (mentoring) money
01 Nov 2011 New insurance products the business for advisers
01 Nov 2011 Tyndall Monthly Commentary
01 Nov 2011 BOS puts advisers’ in hot seat over frozen funds
01 Nov 2011 AIA: Reconsidering remuneration
01 Nov 2011 Bonds safe(ish) despite debt crises
01 Nov 2011 Property Tutors defended in wake of FMA warning
01 Nov 2011 Asking prices hit new high in October
October 2011
31 Oct 2011 ANF receivers repaid less than half the govt guarantee
31 Oct 2011 Westpac takes on Kiwibank with cuts
31 Oct 2011 Comparing rate cuts
31 Oct 2011 Gems from the Principles of Risk Management
31 Oct 2011 Home consents see ‘large decrease’ in September but trend still rising
30 Oct 2011 ISI welcomes Labour's savings policy
28 Oct 2011 Two new brokers for Mortgage Express
28 Oct 2011 New company for Government receivership assets
28 Oct 2011 Hanover investors unlikely to get a say on share dilution
28 Oct 2011 Two year old report underpins Labour's policy
28 Oct 2011 Forget about personality; Labour's policy has balls
28 Oct 2011 Kiwibank slashes all fixed rates; Westpac follows
28 Oct 2011 Property Tutors no income property investment adverts criticised by FMA
27 Oct 2011 Details of Kiwibank's new home loan rates
27 Oct 2011 SCF's good asset realise a third of total book
27 Oct 2011 Labour promises compulsory KiwiSaver
27 Oct 2011 SFO charges four over Dominion Finance lending
27 Oct 2011 Bollard spooks markets
27 Oct 2011 Interest rates on hold for now
27 Oct 2011 NZF promises new products for brokers
27 Oct 2011 OCR held, but for how long?
27 Oct 2011 Advisers urged to avoid ‘mediocre’ managers
27 Oct 2011 Bollard spooks market
26 Oct 2011 New name and bank status for PSIS
26 Oct 2011 Inflation data adds to rate hold view
26 Oct 2011 Christchurch City exodus a shot in arm for suburban landlords
25 Oct 2011 PAA/NZMBA joint board creation in final stages
24 Oct 2011 Deteriorating growth outlook likely to keep rates on hold
24 Oct 2011 News Round Up: October 24
24 Oct 2011 Interest rate cuts not happening: Survey
21 Oct 2011 The $5 million dollar man
21 Oct 2011 TSB offers 'lending special'
20 Oct 2011 National Finance 2000 boss Ludlow jailed for six years
20 Oct 2011 Allied Kiwi buys insurance broker Metro Broker Link
20 Oct 2011 Advisers open to ISI super-group idea
20 Oct 2011 ANZ National prepares rate hike
20 Oct 2011 ANZ National prepares rate hike
19 Oct 2011 SFO launches investigation into advisory firm
19 Oct 2011 Just three adviser complaints at FSCL – so far
19 Oct 2011 Global pressures vs inflation fears
19 Oct 2011 Mid-price rental property in short supply
18 Oct 2011 Planet appoint new GM
18 Oct 2011 English announces KiwiSaver soft-compulsion plans
18 Oct 2011 Macquarie to repay 45.02 cents in the dollar on Fortress notes
18 Oct 2011 Redundancy for PIS founder Bennetts
18 Oct 2011 Advisers offered flexible currency product
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