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October 2009
26 Oct 2009 Market listening for the unexpected
26 Oct 2009 News round-up
23 Oct 2009 [Weekly Wrap] The price of advice
23 Oct 2009 Higher minimum standards possible for advisers
23 Oct 2009 RB gears up to regulate insurance sector
23 Oct 2009 ANZ's ING customers awaiting news on compensation
22 Oct 2009 Borrowers who have not fixed face challeges
22 Oct 2009 South Canterbury Finance will seek govt guarantee extension
22 Oct 2009 TOWER adds roaming underwriter
22 Oct 2009 Potential dousing for a warm market
22 Oct 2009 Property prices poised for challenging times: ANZ
22 Oct 2009 Finsia: legal and compliance issues
22 Oct 2009 The big tick
22 Oct 2009 TSB still nudging
22 Oct 2009 Regulations not a quick fix for Non Banks
21 Oct 2009 Fees have potential to discourage independence
21 Oct 2009 AMP Capital takes a knock from direct property investment
21 Oct 2009 Housing market holds steady
20 Oct 2009 Asset Finance gives up Govt guarantee
20 Oct 2009 SCF registers new prospectus
20 Oct 2009 Life too risky for mortgage brokers
20 Oct 2009 KiwiSaver rally strongest in riskier, long term plays
20 Oct 2009 KiwiSaver rally strongest in riskier, long term plays
20 Oct 2009 Mercer looks for dynamic returns
20 Oct 2009 BNZ's turn to raise its rates
20 Oct 2009 Oxford Finance gets investment grade rating
19 Oct 2009 New role for Coote
19 Oct 2009 Traditional spring market true to form
19 Oct 2009 Rates Round Up
19 Oct 2009 Westpac raises rates twice in one week
19 Oct 2009 News round-up
16 Oct 2009 [Weekly Wrap] Don't blink and miss out
16 Oct 2009 Let's educate as well as regulate
16 Oct 2009 ASB fixed rates hike
16 Oct 2009 KiwiSaver fees top $36 million
16 Oct 2009 Comply with me: new complaints body urges
15 Oct 2009 South Canterbury agrees to repay US investors
15 Oct 2009 More fixed rate rises coming
15 Oct 2009 One-year fixed rates are on the move.
15 Oct 2009 Sovereign fronts up with 230% offer
15 Oct 2009 High profile planners adopt fee-based model
15 Oct 2009 GE Money prepares to enter deposit and credit card markets
14 Oct 2009 PIS/Women in Finance Lunch
14 Oct 2009 New chief for AMP association
14 Oct 2009 Proposed ACC changed aimed at affordability
14 Oct 2009 House prices extend gains in September
14 Oct 2009 REINZ regional highlights - September 2009
14 Oct 2009 PSIS rate hikes still below median.
14 Oct 2009 More adviser consultation coming
14 Oct 2009 Guardian Trust told to improve compliance
14 Oct 2009 It can be tricky finding your ideal tenant - let Housing New Zealand move in instead.
13 Oct 2009 Auckland Airport set to offer $125 million in bonds
13 Oct 2009 National Bank removes wide range of fees
13 Oct 2009 AXA names top adviser
13 Oct 2009 ANZ National make major changes
13 Oct 2009 SBS rules out finance company acquisitions
13 Oct 2009 Minister changes QFE rules
13 Oct 2009 Property managers to register as authorised financial advisers
12 Oct 2009 NZ not likely to next cab off the interest rate hike rank
12 Oct 2009 Fisher Funds 2009 Roadshow
12 Oct 2009 Rates round-up
12 Oct 2009 QV stats
12 Oct 2009 News round-up
12 Oct 2009 Growth continues on all fronts
12 Oct 2009 QV regional snapshot - September 2009
09 Oct 2009 [Weekly Wrap] Rolling stones gather no moss
09 Oct 2009 Investing made easy: State of play
09 Oct 2009 Market Review: October 2009 Commentary
09 Oct 2009 Kiwibank hike long term rates
09 Oct 2009 Market Review: October 2009 London Commentary
09 Oct 2009 Banks sing same tune on disclosure statements
09 Oct 2009 Bond issue to halt the brain robbery
08 Oct 2009 Reserve Bank unlikely to follow RBA hike
08 Oct 2009 Mercer Investment Series 2009
08 Oct 2009 Westpac loses massive tax case
08 Oct 2009 KiwiSaver survey: the full numbers revealed
08 Oct 2009 Fixed income investors need to go long for returns
07 Oct 2009 AMP Capital loses a head
07 Oct 2009 Fixed income investors need to go long for returns
07 Oct 2009 RBA hikes rates
07 Oct 2009 ANZ deal fantastic for ING: Fyfe
07 Oct 2009 Opinion: Where's the insurance innovation?
06 Oct 2009 RBA rate hike won’t damp deposit rate war
06 Oct 2009 Resetting the insurance scene
06 Oct 2009 Sinclair joins Baker on Dorchester board
06 Oct 2009 Mercer Investment Series 2009
06 Oct 2009 Auction rather than fixed price the best strategy
06 Oct 2009 Gold is the answer to financial crisis
06 Oct 2009 Interest rate markets watch Australia today
06 Oct 2009 Dorchester looks to do deal with debenture holders
05 Oct 2009 HSBC's mortgage book shrinks but profits jump
05 Oct 2009 Auckland home listings rise, prices dip in September
05 Oct 2009 Property investors positive about the future
05 Oct 2009 New relationship manager for Public Trust
05 Oct 2009 News round-up
04 Oct 2009 Rates Round Up
04 Oct 2009 Tax Working Group says property investors pay no tax
02 Oct 2009 [Weekly Wrap] Finding the path
02 Oct 2009 The rational bubble
02 Oct 2009 Housing rent likely to rise with capital gains tax
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