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August 2009
04 Aug 2009 More signs banks easing lending rules
04 Aug 2009 Brown steps down from ombudsman
04 Aug 2009 Taskforce calls for even tougher regulation on financial advisers
04 Aug 2009 Banks driving apartment buyers to the suburbs
03 Aug 2009 Still some hope OCR will be cut again this year
03 Aug 2009 Investing made easy: Knowledge is power
03 Aug 2009 Rates Round Up
03 Aug 2009 Advisers to become personally liable for advice
July 2009
31 Jul 2009 Rates one big game of poker
31 Jul 2009 IFA awards members
31 Jul 2009 Letting services under the spotlight
30 Jul 2009 Rates one big game of poker
30 Jul 2009 Building law being streamlined
30 Jul 2009 Bollard holds OCR at 2.5%
30 Jul 2009 Bollard keeps OCR steady but flags further cuts
30 Jul 2009 OCR unchanged at 2.50%
30 Jul 2009 Cotton talks up adviser business statement
30 Jul 2009 Aussie banks eyeing up wealth management opportunities
29 Jul 2009 Geared KiwiSaver fund offers bigger returns - and risks
29 Jul 2009 Permanent term ends for AIG
29 Jul 2009 Building consents drop in June, due to apartments
29 Jul 2009 IFA Conference 2009
29 Jul 2009 Advisers interested in infrastructure fund
28 Jul 2009 It's time to counter bad press
28 Jul 2009 Uncertainty remains certain
28 Jul 2009 Rates Round Up
28 Jul 2009 Equities the asset class to watch
28 Jul 2009 Home loan rates falling, even with rises
28 Jul 2009 Surge in demand for serviced apartments
27 Jul 2009 Property indicators on the way up
27 Jul 2009 News round-up
26 Jul 2009 Bollard to leave rates unchanged this week
24 Jul 2009 [Weekly Wrap] Industry architects revealed
24 Jul 2009 A guide to UK pension transfers
24 Jul 2009 Financial advisers to blame for over-subscription to frozen ING funds
23 Jul 2009 Alexander still favours three year rates
23 Jul 2009 The health of the home loan market.
23 Jul 2009 Eriksens Superannuation and Investment Conference 2009
23 Jul 2009 Opinion: Asking the right questions
23 Jul 2009 IFA confident adviser regulation won’t be hindered by under-funding
23 Jul 2009 [NEW Product] The NZ Investment Game
22 Jul 2009 Kiwibank cash PIEs top a billion dollars
22 Jul 2009 Consumers have choices over home loans: English
22 Jul 2009 First Step investment trusts wind-down stall as buyers dry up
22 Jul 2009 The 10 people who will decide advisers' future
22 Jul 2009 Marac and Perpetual Trust get a makeover
22 Jul 2009 Rents hit by oversupply of property
21 Jul 2009 Bank bashing the hot new game
21 Jul 2009 Bankers considering enquiry attendence
21 Jul 2009 Code Committee named
21 Jul 2009 Banks look to target ING's 14,000 frozen funds clients
21 Jul 2009 Super fund dumps ING and Smartshares
20 Jul 2009 Economists start to warn of rate rises
20 Jul 2009 Asset Allocation Summit 2009
20 Jul 2009 Rates Round Up
20 Jul 2009 News round-up
20 Jul 2009 New COO for Southern Cross
20 Jul 2009 Veda’s new credit rating product receives mixed response from property investors
17 Jul 2009 In the line of fire
17 Jul 2009 Chinese recovery could be 'biggest disappointment yet'
17 Jul 2009 PAA picks new CEO
17 Jul 2009 Three new players for Perpetual
16 Jul 2009 ING July Roadshow
16 Jul 2009 Forthcoming rise in interest rates could catch out property owners
16 Jul 2009 Trans-Tasman superannuation portability all but signed off
16 Jul 2009 PAA picks new CEO
16 Jul 2009 ASB makes changes to its wealth management strategy
15 Jul 2009 ING July Roadshow
15 Jul 2009 Where to for interest rates?
15 Jul 2009 Strategic Finance loss widens
15 Jul 2009 Regs look too heavy for sole practitioners, SIFA chief says
15 Jul 2009 Asteron product enhancements well-received
15 Jul 2009 Credit crunch hits NZ brokers harder than Aust
15 Jul 2009 Migration keeps property market chugging along
15 Jul 2009 Property Investors see light at the end of the tunnel
14 Jul 2009 ING July Roadshow
14 Jul 2009 Mortgage rate stimulus for housing market easing
14 Jul 2009 White-labelled KiwiSaver schemes under IRD spotlight
14 Jul 2009 Lift in market activity continuing
14 Jul 2009 New sale and purchase agreement on its way
14 Jul 2009 PLAN NZ restructures
13 Jul 2009 Investors make politicians look silly
13 Jul 2009 Nearly all investors accept ING offer
13 Jul 2009 RBNZ releases tougher rules for non-bank sector
13 Jul 2009 Time to move from floating to fixed: Westpac
13 Jul 2009 SCF related-party lending faces severe prune under draft rules
13 Jul 2009 Rural property reaches realistic levels after 'euphoric' high
13 Jul 2009 The National Partnership Roadshow
13 Jul 2009 Political pressure placed on ING
13 Jul 2009 News round-up
13 Jul 2009 Economists unanimous on next OCR move
13 Jul 2009 Rates Round Up
10 Jul 2009 [Weekly Wrap] The changing face of adviserland
10 Jul 2009 Predicting the unpredictable
10 Jul 2009 PSIS eyes return to brokers
10 Jul 2009 ING ends exclusive deal with Strategi
09 Jul 2009 Alexander opts for rate protection
09 Jul 2009 Viaduct wants Govt guarantee back
09 Jul 2009 Median house sale prices edges up, volumes dip
09 Jul 2009 REINZ residential highlights - June 2009
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