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August 2011
23 Aug 2011 Chris MacKay adds another adviser
23 Aug 2011 Stewart takes over reins at ACC
23 Aug 2011 King counters taxing solution to misdiagnosed problem
22 Aug 2011 Dorchester to raise up to $12m in convertible note sale
22 Aug 2011 From AXA to ACC
22 Aug 2011 ANZ's profit growth slowed, mortgage book shrank in June Qtr
22 Aug 2011 News Round Up: August 22
22 Aug 2011 10,000 New Zealanders abandon health cover over last quarter
22 Aug 2011 To move or not to move?
19 Aug 2011 Heartland delivers on profit promise
19 Aug 2011 Former Hanover debenture holders face massive dilution
19 Aug 2011 BNP Paribas appoints new NZ head
19 Aug 2011 Former Hanover debenture holders face massive dilution
19 Aug 2011 Price expectations up, confidence down
18 Aug 2011 The holiday’s over for holiday home tax treatment
18 Aug 2011 Heartland's 2012 profit to be boosted by tax law change
18 Aug 2011 More Christchurch properties red zoned
18 Aug 2011 ISO Case Studies - ASSET Aug 2011
18 Aug 2011 Equitable investors facing a shortfall: receivers
18 Aug 2011 What's the news out there?
18 Aug 2011 Advisers’ limited role in KiwiSaver revealed
18 Aug 2011 City Bay a riser while Devonport sinks
17 Aug 2011 New two-year special
17 Aug 2011 Staying clean of dirty money
16 Aug 2011 Westpac's mortgage book grew strongly in June Qtr
16 Aug 2011 SCF's good bank sold to Japanese investment bank
16 Aug 2011 Budget changes hit KiwiSaver’s appeal
16 Aug 2011 Sentiment towards property and KiwiSaver changing
16 Aug 2011 Tate calls for KiwiSaver advice funding
16 Aug 2011 Rental property seen as second-best investment type
15 Aug 2011 Tax changes prompt some investment property sales, report claims
15 Aug 2011 What advice can you offer your old whole of life clients?
15 Aug 2011 Chris MacKay Financial Planning joins Plus4
15 Aug 2011 Views changing on interest rate moves
15 Aug 2011 Even economists are finding it hard
15 Aug 2011 Advisers rate Sovereign and AXA tops
15 Aug 2011 Fidelity KiwiSaver fund hurt by market volatility
15 Aug 2011 Heartland's banking aspirations knocked
15 Aug 2011 Rent and the regions
12 Aug 2011 Top brokers awarded
12 Aug 2011 $30,000 fine for property finder “sets a clear precedent”
12 Aug 2011 Harbour commentary: NZ powers on while Australia splutters
12 Aug 2011 OnePath appoints new BDM
12 Aug 2011 How to make money in Christchurch
12 Aug 2011 New group founder works with another group
12 Aug 2011 Little for advisers to fear in new Financial Markets Bill
12 Aug 2011 Calling all property investors
11 Aug 2011 Darren Pratley talks about tie up with PAA
11 Aug 2011 Advisers want stability around regulation: Butler
11 Aug 2011 NZMBA on PAA tie up
11 Aug 2011 REINZ July 2011 Report - the regions
11 Aug 2011 Property sales and prices down in July
11 Aug 2011 What do you think is happening with prices and rents?
10 Aug 2011 Fidelity bondholders to receive no further interest payments
10 Aug 2011 Blue Star bondholders approve revised restructuring proposal
10 Aug 2011 FMA announces further leadership appointments; Auckland location
10 Aug 2011 Allied Farmers to write Matarangi loan down to zero
10 Aug 2011 Butler reappointed to Code Committee
10 Aug 2011 All quiet on the complaints front
10 Aug 2011 What a difference a week makes
10 Aug 2011 Auckland July rents down on June, still above year earlier
09 Aug 2011 Changes at research house
09 Aug 2011 Kiwibank joins in the cuts
09 Aug 2011 Fidelity bonds face interest suspension and possible liquidation
09 Aug 2011 Combating mental health claims
09 Aug 2011 No one following ASB - yet
09 Aug 2011 RaboDirect moves into planner space
09 Aug 2011 Playing ball with the IRD during RWC
08 Aug 2011 ASB reverses last week's increases
08 Aug 2011 S&P Downgrade: True to their word
08 Aug 2011 Heartland considers corporate bond issue
08 Aug 2011 Economist argues against early OCR increase
08 Aug 2011 QV July 2011 Report – the regions
08 Aug 2011 Nationwide property values steady, slide continues in Wellington
07 Aug 2011 News Round Up: August 8
07 Aug 2011 The truth about managing retirement income
05 Aug 2011 Anticipating more changes
05 Aug 2011 Mel's Farewell Blog
05 Aug 2011 Closer PAA/NZMBA ties welcomed
05 Aug 2011 Frankly my dear, property investors don’t give a damn
05 Aug 2011 July’s new listings down 15% on year
04 Aug 2011 Government considers KiwiSaver auto-enrolment
04 Aug 2011 It's not a rates story today
04 Aug 2011 A Blue Star no vote likely to result in receivership: CEO
04 Aug 2011 PAA and NZMBA get together
04 Aug 2011 Barfoot & Thompson Auckland listings at decade low
03 Aug 2011 Home loan rates start rising
03 Aug 2011 ASB family increase rates
03 Aug 2011 Sovereign offers advisers’ cross-selling bonus
03 Aug 2011 Home loan rates start to rise
02 Aug 2011 Blue Star bosses bow to bond holder anger
02 Aug 2011 Calls for more responsible investment practices
02 Aug 2011 Heartland provides profit forecast
02 Aug 2011 Westpac moves rates up
01 Aug 2011 Rating agency runs ruler over TOWER
01 Aug 2011 Total bank loans fall in March Qtr but household lending rises: KPMG
01 Aug 2011 South Canterbury Finance receivers sell FSL stake
01 Aug 2011 Where to go when the banks say no
01 Aug 2011 AIA:”The Ratings Game”
01 Aug 2011 AIA sees growth across the board
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