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December 2009
02 Dec 2009 Independent definition a problem for advisers
02 Dec 2009 Opinion: Insurance needs variation
01 Dec 2009 Strategic investors about to get first payment
01 Dec 2009 SCF temporary chief
01 Dec 2009 PLAN NZ sold
01 Dec 2009 AMP refuses to front up on commissions in NZ
November 2009
30 Nov 2009 Dorchester to end its moratorium
30 Nov 2009 HSBC profit jumps despite higher bad debt charges, shrinking mortgage
30 Nov 2009 7 reasons why Allied's deal will succeed
30 Nov 2009 The choice for Hanover investors: Receivership or Allied Farmers?
30 Nov 2009 Allied’s Hanover deal better than receivership
30 Nov 2009 Allied’s Hanover deal better than receivership
30 Nov 2009 Do property investors really have "tax benefits?"
30 Nov 2009 Home-building approvals climb, adding weight to recovery
30 Nov 2009 News Round Up
29 Nov 2009 Rates Round Up
28 Nov 2009 [Book] Don't miss the next property cycle
27 Nov 2009 October reminder that all is not well
27 Nov 2009 TSB's profits and mortgage book grow strongly
27 Nov 2009 [Weekly Wrap] Sights targeted on commissions
27 Nov 2009 Stairway to heaven....yeah right
27 Nov 2009 Medical insurance requests speed up
27 Nov 2009 SHARE: Regulation Success Roadshow
27 Nov 2009 DNZ offer unfair to shareholders: van Schaardenburg
26 Nov 2009 KiwiSaver fee disclosure needs to improve: Mercer
26 Nov 2009 McLeod leaves South Canterbury, but sticks with Hubbard
26 Nov 2009 Women in Super Christmas Drinks
26 Nov 2009 SHARE: Regulation Success Roadshow
26 Nov 2009 SHARE: Regulation Success Roadshow
26 Nov 2009 China not the world's panacea: Magellan
26 Nov 2009 Celebrating tenant-landlord relationships
25 Nov 2009 Rumours of new Hanover bid greatly exaggerated
25 Nov 2009 Hanover's winners, losers and whingers
25 Nov 2009 8th Annual International Financial Reporting Standards Masterclass
25 Nov 2009 12th Annual Local Government Finance Forum
25 Nov 2009 ANZ's mortgage book shrinks, jumps or subsides - take your pick
25 Nov 2009 Magellan Asset Management’s Investment Briefing
25 Nov 2009 Practice management: The financial sailboat
25 Nov 2009 SHARE: Regulation Success Roadshow
25 Nov 2009 SHARE: Regulation Success Roadshow
25 Nov 2009 Fidelity moves to renewal commission model
25 Nov 2009 NZ to track Australia on commissions
24 Nov 2009 Bouquet for St Laurence; Brickbat for Strategic
24 Nov 2009 Magellan Asset Management’s Investment Briefing
24 Nov 2009 SHARE: Regulation Success Roadshow
24 Nov 2009 Mortgagee sales at record high
24 Nov 2009 Commission ban deferred but Ripoll effect to hit NZ
24 Nov 2009 Rates Round Up
24 Nov 2009 Getting monetary policy mix right
24 Nov 2009 Resurgent risk appetite breathes life back into debt market
23 Nov 2009 Signing up children as KiwiSavers is about to get harder.
23 Nov 2009 Magellan Asset Management’s Investment Briefing
23 Nov 2009 Funding brought forward for insulation scheme
23 Nov 2009 News round-up
20 Nov 2009 [Weekly Wrap] How's your moral compass?
20 Nov 2009 TNP: dealers must deliver
20 Nov 2009 ISO to rule on advice disputes
19 Nov 2009 Fisher Funds growth fund tops KiwiSaver survey
19 Nov 2009 CBS Canterbury ‘very happy’ with BB+ credit rating
19 Nov 2009 ASB posts $124m Sept qtr loss but underlying profitability rises
19 Nov 2009 ComCom chasing bigger fish after dodgy Invercargill property scheme
19 Nov 2009 Finsia: Delivery of KiwiSaver
19 Nov 2009 Boston Finance placed in receivership
19 Nov 2009 No advisers on Code Committee. No problem: Cotton
18 Nov 2009 Deposit guarantee scheme gets tweaked
18 Nov 2009 Fisher & Paykel and UDC hike rates
18 Nov 2009 Property indicator continues to exude energy
18 Nov 2009 Opinion: Advice counts - and you have to have a method
18 Nov 2009 Finsia industry update: Lifting New Zealanders’ financial literacy
18 Nov 2009 Allied Farmers offers hand of welcome to Hanover investors
18 Nov 2009 Allied and Hanover confirm deal
18 Nov 2009 TNP Annual Conference 2009
18 Nov 2009 Asteron appoints new senior leadership team
18 Nov 2009 Code Committee outlines ethics required
17 Nov 2009 Former AMP Capital boss becomes a Guardian
17 Nov 2009 Allied Kiwi says insurance sales up 50%
17 Nov 2009 Code Committee sackings unwarranted
17 Nov 2009 How much is your mortgage costing?
17 Nov 2009 Finsia industry update: Lifting New Zealanders’ financial literacy
17 Nov 2009 Hanover posts $102.9m loss, writes off $308.9m
17 Nov 2009 Aussie researcher plants flag in NZ
17 Nov 2009 Property finders likely to cause a few headaches for REAA
16 Nov 2009 ANZ backs RBNZ on rate rises
16 Nov 2009 The Hawk set to swoop on Cynotech
16 Nov 2009 Rates Round Up
16 Nov 2009 Confidence in housing remains high: ASB survey
16 Nov 2009 Harcourts pushes auctions as favoured selling strategy
15 Nov 2009 SIFA 2009 conference
13 Nov 2009 [Weekly Wrap] Believe it or not
13 Nov 2009 House prices hit 10-year high amid declining sales numbers
13 Nov 2009 REINZ residential highlights - October 2009
13 Nov 2009 Q&A: TOWER Parallel Portfolios
13 Nov 2009 Out on their own and looking to clean up the insurance broker industry
13 Nov 2009 Cowboys targeting leaky home owners
13 Nov 2009 Heading for Spicers
12 Nov 2009 Deposit war keeps bank margins under pressure
12 Nov 2009 Cotton explains why Code Committee members pushed
12 Nov 2009 Two Code Committee members resign
12 Nov 2009 Prices to continue upwards for some time yet
12 Nov 2009 The road well travelled
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