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July 2008
24 Jul 2008 OCR reduced to 8.00%
23 Jul 2008 Answering the big question over Hanover
23 Jul 2008 Hanover hits standstill
23 Jul 2008 Hanover in trouble
23 Jul 2008 Investors like KiwiSaver, fret about government meddling
23 Jul 2008 Regional mortgage managers upbeat despite CMT suspension
23 Jul 2008 A lingering problem
23 Jul 2008 St Laurence Roadshow 2008
23 Jul 2008 IFA Success Forum 2008
23 Jul 2008 Negative forces consolidate
23 Jul 2008 Regional mortgage managers upbeat despite CMT suspension
22 Jul 2008 PIS July Development Days
22 Jul 2008 Canterbury Mortgage halts withdrawals as reserves dwindle
22 Jul 2008 St Laurence Roadshow 2008
22 Jul 2008 Tax changes mean higher premiums
22 Jul 2008 AMP Financial Services moving staff to Auckland
21 Jul 2008 Cymbis Australia misses repayments
21 Jul 2008 Marac closes offer and sets rate
21 Jul 2008 St Laurence Roadshow 2008
21 Jul 2008 Podmore resigns from Dorchester
21 Jul 2008 News Round Up
18 Jul 2008 Weekly Wrap: Advisory Group Pick 'n' Mix
18 Jul 2008 Capital + Merchant debenture holders may get just 8%
18 Jul 2008 Compare PIE fund rates
18 Jul 2008 AIG announces replacement for Brian Young
18 Jul 2008 NZ central bank to cut rates in next 3 months
18 Jul 2008 Home loan approval rates falling sharply
18 Jul 2008 Managers buy back Strategic
17 Jul 2008 Bearish sentiments
17 Jul 2008 Camelot searches for advice holy grail
17 Jul 2008 Confidence in rental property crashes
16 Jul 2008 IFA gets Investment SIG chair
16 Jul 2008 Mortgage applications fall 21% in first half, Veda says
16 Jul 2008 Mortgage applications fall 21% in first half, Veda says
16 Jul 2008 Opinion: Knowing what proportion of risks are covered
16 Jul 2008 Liontamer goes for a knockout
16 Jul 2008 Home loan report: Rollercoaster rates
16 Jul 2008 Home loan report: Rollercoaster rates
15 Jul 2008 World Bank NZ retail offer closes
15 Jul 2008 Insurance advisers agree to share
15 Jul 2008 Queenstown puts it in perspective
15 Jul 2008 Calls to standardise KiwiSaver rejected
15 Jul 2008 Instant Finance says it's OK
14 Jul 2008 ASSET – Network news: Inside 11 of NZ's top advisory firms
14 Jul 2008 St Laurence Roadshow 2008
14 Jul 2008 News Round Up
14 Jul 2008 Almost no house price growth: QV
14 Jul 2008 QV urban areas highlights - June 2008
13 Jul 2008 Tower adds more people
11 Jul 2008 Weekly Wrap: Who will win the regulation marathon?
11 Jul 2008 The end is nigh
11 Jul 2008 What’s on the cards
11 Jul 2008 REINZ residential highlights - June 2008
11 Jul 2008 Insurance boosts mortgage business
11 Jul 2008 Clients Gifts
11 Jul 2008 FIF rules put advisers offside
10 Jul 2008 Insurance Adviser of the Year
10 Jul 2008 Financial Planner of the Year
10 Jul 2008 Kinloch Funds Management Briefing
10 Jul 2008 Join Up, Join Up: The latest adviser regulation twist
10 Jul 2008 New adviser model promoted at last minute
10 Jul 2008 Legendary fund manager passes on
09 Jul 2008 NZMBA top broker announced for 2008
09 Jul 2008 Mass moves to commission-based agencies
09 Jul 2008 Overcoming client indecision and procrastination
09 Jul 2008 Kinloch Funds Management Briefing
09 Jul 2008 Five Star Finance directors prosecuted
09 Jul 2008 Emerging markets property fund launched
08 Jul 2008 Home loan report: Make it short!
08 Jul 2008 Home loan report: Make it short
08 Jul 2008 Silver lining for property managers
08 Jul 2008 Don't dump co-regulation, says ISI
07 Jul 2008 Hamilton: Dabbling in the river city
07 Jul 2008 The Asset Allocation Summit New Zealand 2008
07 Jul 2008 July issue - available now
07 Jul 2008 News Round Up
04 Jul 2008 Weekly Wrap: Educating the younger generation
04 Jul 2008 Keep your PI hat on and keep it Kiwi
04 Jul 2008 11th Annual NZMBA Conference
04 Jul 2008 TOWER Investments appoints Roger Perry
04 Jul 2008 Outside, inside out disclosure
04 Jul 2008 Investment managers bearish
03 Jul 2008 Auckland house prices fall; pain ‘still in pipeline’
03 Jul 2008 Increase in private landlords
03 Jul 2008 Surprise! Funding costs rise again
03 Jul 2008 ASB Gp Inv appoints new head
03 Jul 2008 Surprise! Funding costs rise again
03 Jul 2008 Brook cashed up for grim times
02 Jul 2008 NZ vs OZ: What's better?
02 Jul 2008 Market Review: July 2008 commentary
02 Jul 2008 Market Review: July 2008 London commentary
02 Jul 2008 Opinion: What counts? Head or heart?
02 Jul 2008 FIF confusion reigns
01 Jul 2008 All in one mortgage protection cover launched
01 Jul 2008 Financial literacy strategy launched
01 Jul 2008 Service offering to ease admin burden
01 Jul 2008 Geneva appoints new directors
June 2008
30 Jun 2008 News Round Up
27 Jun 2008 AIG Life Roadshow 2008
27 Jun 2008 AIG Life Roadshow 2008
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