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December 2006
18 Dec 2006 News Round Up
18 Dec 2006 AMP swaps two senior managers
17 Dec 2006 News in brief
16 Dec 2006 South Auckland property market surges
15 Dec 2006 SRI pays says local adviser
15 Dec 2006 Data surprise bad news for rates
14 Dec 2006 Spooner off to study
14 Dec 2006 IFA reports a loss in 2006
14 Dec 2006 Property Council supports Taxation Provisions Bill
13 Dec 2006 Finsia'a inaugural 'Government Speaks' Breakfast
13 Dec 2006 New framework unlikely to work: PAA
13 Dec 2006 Auckland house prices picking up
13 Dec 2006 Asian property prices still far below peak levels
12 Dec 2006 NZMBA signs up 1000th member
12 Dec 2006 Allco bids for all of Strategic
12 Dec 2006 Mike Pero confirms mortgages record
12 Dec 2006 Extending the KiwiSaver tax exemption to other registered schemes
12 Dec 2006 Further help for saving as KiwiSaver tax exemption extended
12 Dec 2006 Northplan deal first step for MFS
12 Dec 2006 AIA launches new network
12 Dec 2006 Auld leaves Russell
11 Dec 2006 Residential property increases 9.4%
11 Dec 2006 MFS pays $52 mill for Northplan
10 Dec 2006 Advisers need to focus on rewards
10 Dec 2006 Housing market could still push up OCR
09 Dec 2006 Ray White November results new trading record
08 Dec 2006 Premium Real Estate guilty of misleading and deceptive conduct
08 Dec 2006 PIS professional development day
08 Dec 2006 More regulation coming
08 Dec 2006 Trustees Executors appoints two BDMs
08 Dec 2006 Adviserlink Learning Courses
07 Dec 2006 Monetary Policy Statement
07 Dec 2006 KiwiSaver default providers selected
07 Dec 2006 KiwiSaver default providers Q&As
07 Dec 2006 KiwiSaver default scheme providers announced
07 Dec 2006 Bollard holds rates steady but hawkishness exceeds expectations
07 Dec 2006 PIS professional development day
07 Dec 2006 OCR unchanged at 7.25%
07 Dec 2006 Advisers need to focus on rewards
07 Dec 2006 Substantial subdivision in Te Kauwhata
07 Dec 2006 Firing trustees proves expensive
07 Dec 2006 Landlords amassing war chests in anticipation of softening market
06 Dec 2006 Another record result for property market
06 Dec 2006 PIS professional development day
06 Dec 2006 Head of Responsible Investment for fund
06 Dec 2006 Days numbered for small finance companies?
06 Dec 2006 Unhappiness at tax change decision
06 Dec 2006 Deposit rates news briefs
05 Dec 2006 Adviserlink Learning Courses
05 Dec 2006 New brochure on enforcing Tenancy Tribunal orders
05 Dec 2006 New property law a big step in the right direction
05 Dec 2006 Weathertightness Chief Adjudicator appointed
05 Dec 2006 Market Review: Can the good times roll for yet another year?
05 Dec 2006 PIS professional development day
05 Dec 2006 Mallon resigns from St Laurence
05 Dec 2006 Sovereign writes $6 bill in home loans
05 Dec 2006 Tax changes force fund closure
04 Dec 2006 PIS professional development day
04 Dec 2006 Expection OCR will be left unchanged
04 Dec 2006 News Round Up
04 Dec 2006 Software: Columbus Property Manager 2.0.3
04 Dec 2006 Marlborough: Days of wine...and scarce rentals
01 Dec 2006 Payouts for Provincial and Western Bay
01 Dec 2006 Symposium: Lifting New Zealanders’ Financial Literacy
01 Dec 2006 PIS professional development day
01 Dec 2006 Tower New Zealand in renewal mode
01 Dec 2006 Tyndall gets new MD
November 2006
30 Nov 2006 Adviserlink Learning Courses
30 Nov 2006 PIS professional development day
30 Nov 2006 Tight finish for marathon tax bill
30 Nov 2006 Sovereign continues to dominate life market
29 Nov 2006 Rising Trend in New Housing Consents Continues
29 Nov 2006 Geneva to launch home loans
29 Nov 2006 Super products "dodgy": English
29 Nov 2006 Minting a new manager
28 Nov 2006 Key and super
28 Nov 2006 Kiwisaver Regulations released
27 Nov 2006 News Round Up
24 Nov 2006 Auckland house inspection specialists
24 Nov 2006 Bonds with choice of assets
24 Nov 2006 Balanced approach to borrowing recommended
24 Nov 2006 Advisers warned to think before jumping
23 Nov 2006 KiwiSaver to be quicker than expected: Morgan
23 Nov 2006 Naming default providers delayed
22 Nov 2006 The financial planner and the fraudster
22 Nov 2006 Advisers keep an eye on Suncorp/Promina deal
22 Nov 2006 Fund returns under FDR improve
22 Nov 2006 Commercial property OPEX survey shows rates highest cost
21 Nov 2006 Long wait for rate cut
21 Nov 2006 Deposit rates news briefs
21 Nov 2006 Long wait for rate cut
21 Nov 2006 Thomas and Solly back together
21 Nov 2006 Tax determines where funds based
20 Nov 2006 Significant management changes at Perpetual
20 Nov 2006 News Round Up
17 Nov 2006 WRF structures solid fund with liquid features
17 Nov 2006 Reserve Bank urges asset diversification – again
17 Nov 2006 Bank margins squeezed
17 Nov 2006 MFS acquisition announcements due shortly
17 Nov 2006 S&P rating scores well
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