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January 2010
05 Jan 2010 Market Review: January 2010 London Commentary
December 2009
31 Dec 2009 Investigation into ING funds still 3 months away
31 Dec 2009 Commercial property investors will foot the bill of proposed land tax
30 Dec 2009 Holiday message
30 Dec 2009 SCF appoints new CEO
28 Dec 2009 Six pull out of govt retail deposit scheme
24 Dec 2009 Commission calls on QFEs to set high standards
23 Dec 2009 Marac to offer non-guaranteed term deposit
23 Dec 2009 Rate changes in the lead up to Christmas
23 Dec 2009 AXA advisers prefer NAB
23 Dec 2009 Property investors pay IRD extra $63m
22 Dec 2009 Meridian looks to issue bonds as well as notes
22 Dec 2009 The verdict on Fidelity Life’s new Platinum Plus
22 Dec 2009 Don't ban commissions: IFA
22 Dec 2009 Opinion: They’ve been misled, so they mislead you
22 Dec 2009 Provincial and coastal markets picked to improve
22 Dec 2009 ANZ property gauges point to decline in house prices
21 Dec 2009 Meltdown could have been worse than it was
21 Dec 2009 Cash PIEs get the official chop
21 Dec 2009 Rates Round Up
21 Dec 2009 News Round Up
21 Dec 2009 Westpac records above average lending growth
21 Dec 2009 Mortgagee sales to stay high for another 12-months
18 Dec 2009 [Weekly Wrap] No relAXAtion just yet
18 Dec 2009 One and two year rates up this week
18 Dec 2009 Half a decade of interest rate movements
18 Dec 2009 Commissions must go: Inquiry told
17 Dec 2009 PGG Wrightson sets up banking syndicate
17 Dec 2009 Investment managers favour equities
17 Dec 2009 Insurance groups opt for AFA standards
17 Dec 2009 AXA accepts NAB's offer
17 Dec 2009 Housing market plateauing
17 Dec 2009 Mercer Investment Series 2009
16 Dec 2009 BNZ, Rabo boost long-term deposit rates
16 Dec 2009 Hanover is dead; Long live the House of Farmers
16 Dec 2009 Hanover investors say yes to Allied
16 Dec 2009 Hanover investors vote to accept Allied Farmers shares
16 Dec 2009 Mercer Investment Series 2009
16 Dec 2009 Financial advisers' independence needs regulation
16 Dec 2009 Tower looks to double adviser numbers in next two years
16 Dec 2009 Tax changes will affect house prices
15 Dec 2009 ING reaches $1 billion mark with KiwiSaver
15 Dec 2009 Lifetime to buy Swains
14 Dec 2009 Investors to get power to put finance companies into receivership
14 Dec 2009 Strategic Finance now unsure of first payment
14 Dec 2009 House prices creep up a little more
14 Dec 2009 REINZ residential highlights - November 2009
14 Dec 2009 News round-up
14 Dec 2009 Investing made easy: Finding alternatives
13 Dec 2009 Rates Round Up
11 Dec 2009 [Weekly Wrap] Pick n' mix
11 Dec 2009 X marks the spot
11 Dec 2009 Having Super Choice
11 Dec 2009 Market Review: December 2009 commentary
11 Dec 2009 Sense of normality returning
11 Dec 2009 The good and the bad
11 Dec 2009 MMG alleges DNZ breached Companies Act, constitution
10 Dec 2009 IFA CEO goes
10 Dec 2009 Bollard turns more hawkish on next rate hike
10 Dec 2009 FULL SPEECH: OCR remains unchanged at 2.5%
10 Dec 2009 OCR update Dec 09
10 Dec 2009 OCR unchanged, pick-up in economy may drive early rate hike
10 Dec 2009 Crossan there to help the financial services sector
09 Dec 2009 BNZ barely profitable in quarter
09 Dec 2009 Questions over loan to former SCF boss McLeod
09 Dec 2009 PIS seals deal with risk group
09 Dec 2009 Shake up sees notes suspended
09 Dec 2009 New president for Society of Actuaries
09 Dec 2009 Practice management: Planning your way to success
09 Dec 2009 Residential real estate balancing out
09 Dec 2009 IFA continues name and shame regime; suspends member
08 Dec 2009 Building consents drop
08 Dec 2009 Market Review: December 2009 London commentary
08 Dec 2009 Capital protection kicks in
08 Dec 2009 Kiwbank's mortgage market share and profits keep growing
07 Dec 2009 Central bank in sweet spot with interest rates
07 Dec 2009 Hanover's Hotchin urges investors to ignore their dislike of him
07 Dec 2009 Life insurance sales soar, as do lapses
07 Dec 2009 News round-up
07 Dec 2009 QV main urban areas commentary: November 2009
07 Dec 2009 Property values stay positive as sellers stay put: QV
06 Dec 2009 Views divided on when OCR will start rising
06 Dec 2009 Rates Round Up
06 Dec 2009 Regional review: Prospecting Rodney
04 Dec 2009 Perpetual flags its concerns over Allied/Hanover deal
04 Dec 2009 Lombard Finance makes first payment to debenture holders
04 Dec 2009 [Weekly Wrap] The gloves are off
04 Dec 2009 Women in Super 2009 Christmas Lunch
04 Dec 2009 Investing made easy: Working backwards
04 Dec 2009 Commissions: “Know me before you judge”
03 Dec 2009 DNZ float scuppered
03 Dec 2009 Allied confident investors will support Hanover deal
03 Dec 2009 Floating - the best place to be
03 Dec 2009 Auckland prices reach almost two-year high
03 Dec 2009 Sell as much level term insurance as you can before tax changes
03 Dec 2009 Southern Cross ups rates
03 Dec 2009 MMG could scupper $140m DNZ float
02 Dec 2009 OCR “virtually certain” to stay at 2.5%
02 Dec 2009 Home loans help NZF grow its assets
02 Dec 2009 IRD potentially misleading over off-the-plan property sales
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