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October 2007
16 Oct 2007 Geneva given D rating and proposes moratorium
16 Oct 2007 ANZ decides to keep Origin
16 Oct 2007 More big increases in finance company rates
16 Oct 2007 BT NZ misses the float boat
16 Oct 2007 Deposit rate news briefs
16 Oct 2007 Interest rate relief remains way off
15 Oct 2007 OneSure appoints new BDM
15 Oct 2007 Adviserlink – Practice Management
15 Oct 2007 Adviserlink - Advice Process I: The sales approach
15 Oct 2007 Investor confidence takes a hit
15 Oct 2007 Kiwis still confident about rental property
14 Oct 2007 First KiwiSaver cheques mainly govt money
12 Oct 2007 Weekly Wrap: Blame game heats up
12 Oct 2007 Some LDC investors likely to recoup investment in full - PWC
12 Oct 2007 Legal birds swirling finance companies
12 Oct 2007 Vultures or eagles circling? You decide
11 Oct 2007 Geneva annoyed at S&P's rating action
11 Oct 2007 Adviserlink - Advice Process I: The sales approach
10 Oct 2007 Adviserlink – Financial Plan Construction and Review
10 Oct 2007 Latest REINZ data confirms plummeting sales
10 Oct 2007 PINs payment pulled
10 Oct 2007 Home loan rates harden
10 Oct 2007 Fisher appoints international managers
09 Oct 2007 KiwiSaver enrolments exceed 200,000
09 Oct 2007 Lawyer says Bridgecorp action no 'witch hunt'
09 Oct 2007 Rates up, up, up
09 Oct 2007 3000 first home buyers take up Welcome Home Loans
08 Oct 2007 News Round Up
08 Oct 2007 Lawyer says Bridgecorp action no 'witch hunt'
08 Oct 2007 More evidence of a housing market slowdown
05 Oct 2007 Weekly Wrap: Some good and not-so-good news
05 Oct 2007 What PIE means for New Zealand Investors
05 Oct 2007 Cullen Fund again outperforms
05 Oct 2007 First NZ takes on two as retail funds expand
05 Oct 2007 Clegg and Co latest failure
04 Oct 2007 Return prospects for Five Star investors poor
04 Oct 2007 Auckland property market slow in September
04 Oct 2007 PINs drop interest payment
04 Oct 2007 realestate.com.au gives a toss about renters
04 Oct 2007 Disclosure regs due next month, in force by April 08
03 Oct 2007 Home Loan Report: Further cuts to fixed rates
03 Oct 2007 AdviserLink
03 Oct 2007 Market review: October 2007 commentary
03 Oct 2007 ING appoints two new staff to wholesale investment
03 Oct 2007 UK investment trusts fill new PIE
02 Oct 2007 Adviserlink - Advice Process III: Presenting the Recommendation
02 Oct 2007 St Laurence goes marching in to St John
02 Oct 2007 Tranzact targets ownership in 10 NZ advice firms by mid 2008
02 Oct 2007 TSB, HSBC profits jump but HSBC mortgage book shrinks
02 Oct 2007 Toolbox: STRATA Master
02 Oct 2007 Whakatane: Basking in the sun
01 Oct 2007 Sellers digging in their heels?
01 Oct 2007 News Round Up
01 Oct 2007 IFA fills board vacancy
01 Oct 2007 Life Settlements Wholesale Fund
01 Oct 2007 Second round of cuts for mortgage brokers
01 Oct 2007 WIN a $1000 paint voucher from Resene
September 2007
28 Sep 2007 Weekly Wrap: Things can only get better (or bitter)
28 Sep 2007 Macquarie Private Wealth has three additions
28 Sep 2007 Nats nix tax incentives for health insurance
28 Sep 2007 Nats nix tax incentives for health insurance
27 Sep 2007 Renters’ rage on the rise
27 Sep 2007 Rates continuing to move in the right direction
27 Sep 2007 ASSET - Inflated Upfronts
27 Sep 2007 FundSource loses head, shifts south
26 Sep 2007 New urban limits to influence housing affordability
26 Sep 2007 GSF returns up but tax bites harder
26 Sep 2007 Adviserlink - Personal Risk Management
26 Sep 2007 Sovereign looks to kick-start self-employed cover
26 Sep 2007 PFG trades on but doubts remain
26 Sep 2007 ASB appoints head of distribution
26 Sep 2007 Dalziel unmoved by anti-disclosure petition
25 Sep 2007 Arcus picks global fixed interest as FDR winner
24 Sep 2007 Marac's first ranking secured debenture stock
24 Sep 2007 Adviserlink – NZ Financial Services Industry Essentials
24 Sep 2007 Adviserlink – NZ Financial Services Industry Essentials
24 Sep 2007 The Investment Store appoints sales support executive
24 Sep 2007 QV launches property investor website
24 Sep 2007 News Round Up
22 Sep 2007 Immigration still dropping
21 Sep 2007 INFINZ Finance Companies Conference 2007
21 Sep 2007 Weekly Wrap: What advisers think of finance companies
21 Sep 2007 New town soon to be set in concrete
21 Sep 2007 Tower Health does away with level ratings
21 Sep 2007 Good tyre kicking research required
21 Sep 2007 Advisers shaken but not stirred
20 Sep 2007 New ownership concept in commercial property
20 Sep 2007 Armstrong leaves Salvus board
20 Sep 2007 Fund manager musical chairs
19 Sep 2007 Adviserlink - Advice Process II: The Fact Find Consultation
19 Sep 2007 The eMOCA International Conference 2007
19 Sep 2007 Tentative signs of rate competition
19 Sep 2007 Tower Health does away with level ratings
19 Sep 2007 Work begins on Nelson lakeside development
18 Sep 2007 Fisher closing one fund, opening another
18 Sep 2007 Aussie software firms puts man in NZ
18 Sep 2007 Registered valuers' reports being used fraudulently
17 Sep 2007 Trustees get new power this week
17 Sep 2007 Millbrook West development underway
17 Sep 2007 New competitor for finance company money
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