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October 2008
01 Oct 2008 Keep up the good work, Finsia tells government
September 2008
30 Sep 2008 Non-bank lenders withdrawing rates due to US markets
30 Sep 2008 Non-bank lenders withdrawing rates due to US markets
30 Sep 2008 Fix for a year, rates heading lower
30 Sep 2008 Building approvals fall to 22-year low
30 Sep 2008 Health insurance needs a revamp
30 Sep 2008 Money dribbles in for OPI investors
29 Sep 2008 Geneva spurns attempt to oust directors
29 Sep 2008 New tenancy checking service launched
29 Sep 2008 Planet appoints national manager
29 Sep 2008 News Round Up
26 Sep 2008 [Weekly Wrap] Now for some FAB fun
26 Sep 2008 IRG buys assets of Ellerie Cornwall
26 Sep 2008 The business of property investing
26 Sep 2008 New face at AXA
26 Sep 2008 Stobo lays out manifesto for savings revolution
25 Sep 2008 Kiwibank cuts two-year rate below 8%
25 Sep 2008 IFA Roadshow
25 Sep 2008 RTA amendments on hold yet again
25 Sep 2008 Kiwibank cuts two-year rate below 8%
24 Sep 2008 Longer term mortgages off the menu now
24 Sep 2008 FAB signed off by Parliament
24 Sep 2008 Call me pink, I certainly ain't feeling blue
24 Sep 2008 IFA Roadshow
24 Sep 2008 Lombard considers de-listing
24 Sep 2008 FAB signed off by Parliament
24 Sep 2008 Sheppard seeks sacking of Geneva directors
24 Sep 2008 Opinion: As old as the hills
23 Sep 2008 IFA Roadshow
23 Sep 2008 Possible compensation for landlords over P
23 Sep 2008 Sheppard seeks sacking of Geneva directors
23 Sep 2008 Apps keep flowing at AIG: Pierce
23 Sep 2008 Investors being softened up for bad news
23 Sep 2008 Strategic Finance censured, fined over sale disclosure
22 Sep 2008 IFA Roadshow
22 Sep 2008 Strategic Finance censured, fined over sale disclosure
22 Sep 2008 Dorchester suspends interest payments on new plan
22 Sep 2008 News Round Up
22 Sep 2008 Trail commissions being withheld
19 Sep 2008 What economists miss
19 Sep 2008 Weekly Wrap: Bail-outs here, there and everywhere
19 Sep 2008 Dorchester delays annual meeting on repayment plan
19 Sep 2008 Keep fixing short and sweet
19 Sep 2008 Keep fixing short and sweet
19 Sep 2008 Broker still opposed to selling KiwiSaver
18 Sep 2008 Krippner leaving AMP Capital
18 Sep 2008 Hanover's shareholders to inject $96 million into business
18 Sep 2008 IFA Roadshow
18 Sep 2008 Hanover's shareholders to inject $96 million into business
18 Sep 2008 Rating updates for AMP and Suncorp
18 Sep 2008 Pinnacle at the peak
18 Sep 2008 AIG gets bail money
18 Sep 2008 Tug of war
18 Sep 2008 [Book] Create Wealth
17 Sep 2008 IFA Roadshow
17 Sep 2008 AIG gets bail money
17 Sep 2008 Southern Cross appoints three
17 Sep 2008 Market falls produce buying opportunities
17 Sep 2008 Sovereign tops adviser survey
16 Sep 2008 IFA Roadshow
16 Sep 2008 AIG in crisis control
16 Sep 2008 Curtin enquiry arse covering
16 Sep 2008 Business as usual in NZ: Pierce
15 Sep 2008 More mortgages now qualify for KiwiSaver
15 Sep 2008 News Round Up
12 Sep 2008 Weekly Wrap: Tick tock, tick tock...
12 Sep 2008 IFA Roadshow
12 Sep 2008 KiwiSaver bolt-ons not holding, GA report shows
12 Sep 2008 Industry bodies say FAB is ok
12 Sep 2008 Tribunal forced to rehear case
11 Sep 2008 Equitable keeps its S&P rating
11 Sep 2008 IFA Roadshow
11 Sep 2008 ASFONZ / Women in Super Breakfast
11 Sep 2008 Strategic halts interest, dividend payments
11 Sep 2008 PAA Roadshow 2008
11 Sep 2008 MPS announcement
11 Sep 2008 Bollard cuts rates more than expected
11 Sep 2008 OCR cut to 7.5%
11 Sep 2008 OCR reduced to 5%
11 Sep 2008 Lombard looking for future
11 Sep 2008 OCR reduced to 7.5%
11 Sep 2008 National to look after investors
11 Sep 2008 Property Investors Show Resilience in Slump: Survey
10 Sep 2008 NZ house sales sink to 26-year low
10 Sep 2008 REINZ residential highlights - August 2008
10 Sep 2008 IFA Roadshow
10 Sep 2008 Insurance & Savings Ombudsman Conference 2008
10 Sep 2008 NZ property investors undeterred, seek new houses
10 Sep 2008 North South not facing receivership
10 Sep 2008 ASFONZ / Women in Super Breakfast
10 Sep 2008 KiwiSaver law changes expensive for employers
10 Sep 2008 Dominion Finance down
10 Sep 2008 Group market owes it to KiwiSaver
10 Sep 2008 Lombard payout cut - again
09 Sep 2008 IFA Roadshow
09 Sep 2008 Market Review: September 2008 London Commentary
09 Sep 2008 Market Review: September 2008 Commentary
09 Sep 2008 New charges laid against Bridgecorp directors
09 Sep 2008 ASFONZ appoints new chair
09 Sep 2008 Adviser legislation enters final stretch
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