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May 2010
10 May 2010 Q&A: Sam Stubbs talks KiwiSaver Trends
10 May 2010 Commerce Committee Chair has misgivings about QFE extension
10 May 2010 Property investors procrastinate ahead of Budget: QV
10 May 2010 QV main urban areas commentary: April 2010
10 May 2010 Property round-up
09 May 2010 The news gets worse for Nathans Finance debenture holders
07 May 2010 Waiting for the appointment
07 May 2010 Weekly wrap: Pioneer farwelled
07 May 2010 Business Update 2010: Free FSPR seminars from Companies Office
07 May 2010 [PAA] Education Roadshow
07 May 2010 Role changes at Sovereign
07 May 2010 Sovereign appoints adviser distribution manager
07 May 2010 Mike Pero Mortgages joins FSCL
07 May 2010 Labour growth results in strong consensus for June hike
07 May 2010 Optimism and house prices on the wane
06 May 2010 Prospects of June rate rise increase
06 May 2010 S&P tells South Canterbury how it can improve its rating
06 May 2010 Power plugs holes in financial adviser legislation
06 May 2010 Procrastinate while one has the chance
06 May 2010 Procrastinate while you have the chance
06 May 2010 Bollard: taking the foot off the accelerator
06 May 2010 Open Polytech puts off assessing ‘Standard C’ for now
06 May 2010 [PAA] Education Roadshow
06 May 2010 [PAA] Education Roadshow
06 May 2010 Haak takes up new Sovereign position
06 May 2010 Big shift to floating mortgages as rate hikes draw near
05 May 2010 AMP says conventional life policies being phased out
05 May 2010 Funds flow into boutiques picks up
05 May 2010 Some do and shouldn’t, some should but don’t
05 May 2010 Australia's central bank raises key rate to 4.5%, widening gap with NZ
05 May 2010 ISI fills new communications role
05 May 2010 Auckland house sales dip
05 May 2010 [PAA] Education Roadshow
05 May 2010 IFA fights for CFP rights
04 May 2010 Commerce Commission assesses First Step trusts
04 May 2010 RBA makes sixth rate hike
04 May 2010 Fidelity Life founder Gordon Watson passes away
04 May 2010 Business Update 2010: Free FSPR seminars from Companies Office
04 May 2010 Conditions ripe for rent rises
03 May 2010 No silver lining for Bridgecorp investors
03 May 2010 Floating your home loan is the way to go.
03 May 2010 First dispute resolution scheme approved
03 May 2010 Rates Round Up
03 May 2010 Investors not out of the woods yet
03 May 2010 Procrastinate while one has the chance!
03 May 2010 SCF sweetens rate for current investors
03 May 2010 News round-up
01 May 2010 Does price matter?
April 2010
30 Apr 2010 Sovereign to shield customers from tax increases
30 Apr 2010 The Investment Store loses a BDM and appoints sales support.
30 Apr 2010 Dorchester creates a new role
30 Apr 2010 A sad tale of positive cash flow property
30 Apr 2010 Building consents fall in March
30 Apr 2010 ISI members: the devil is in the detail
29 Apr 2010 Perpetual sends St Laurence to the receivers, slaps down Podmore
29 Apr 2010 Asteron KiwiSaver shuts, recommends Grosvenor
29 Apr 2010 Bollard gives himself "wiggle room" on first rate hike
29 Apr 2010 OCR held plus first mortagage rate change in two weeks
29 Apr 2010 Interest rate hike now in sight
29 Apr 2010 OCR April 2010
29 Apr 2010 Commissions are viable and fair: PAA
29 Apr 2010 Market continues trucking down
28 Apr 2010 Advisers given more time to comply with new regs
28 Apr 2010 St Laurence gives investors ultimatum
28 Apr 2010 Newpark appoints a new BDM familiar with regulation
28 Apr 2010 Guardian Trust appoints new head of product management
28 Apr 2010 Ban on commissions flawed
28 Apr 2010 Agent found guilty over misleading commission costs
27 Apr 2010 AIA appoints Head of Distribution and Marketing
27 Apr 2010 Deposit war shows no sign of abating: KPMG
27 Apr 2010 Where exactly is the middle of 2010?
27 Apr 2010 Power: NZ will not ban commissions
26 Apr 2010 It’s official – commissions to be banned
26 Apr 2010 Mutual Finance changes hands as Bublitz pops up again
26 Apr 2010 Overhaul of Financial Advice
26 Apr 2010 Bollard to hold OCR amid faltering retail spending and housing market
26 Apr 2010 Wrightson tinkers with rates across the board, ASB targets short money
26 Apr 2010 Business Update 2010: Free FSPR seminars from Companies Office
26 Apr 2010 News round-up
26 Apr 2010 Property round-up
25 Apr 2010 Rates round-up
23 Apr 2010 Weekly wrap
23 Apr 2010 Low long term fixed rates down the track
23 Apr 2010 IRD shifts approach on GST applied to land
23 Apr 2010 ISI releases policy replacement guidelines
23 Apr 2010 NAB won't take no for an answer
23 Apr 2010 Newton Ross branches out to Tauranga
23 Apr 2010 Term deposits steep yield curve
23 Apr 2010 Russell announces new head of investor services in New Zealand
23 Apr 2010 Time to fix approaching
23 Apr 2010 Bollard to hold OCR unchanged
23 Apr 2010 Pros and cons of moratoria espoused to select committee
23 Apr 2010 Proof is in the pudding for Liontamer capital-protected funds
22 Apr 2010 South Canterbury reaping '$1 million a week' from distressed assets
22 Apr 2010 Allied Farmers successfully concludes property sales
22 Apr 2010 Glass plans to have NZ’s biggest investment team at Devon Funds
22 Apr 2010 The Investment Store Roadshow
22 Apr 2010 Rents set to rise as demand increases
21 Apr 2010 Sovereign takes regulation bull by the horns
21 Apr 2010 Sovereign paying for advisers to study
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