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July 2006
18 Jul 2006 Finance company shakeout had to occur: Brighouse
17 Jul 2006 NZMBA to question consumer protection
17 Jul 2006 News Round Up
14 Jul 2006 Macquarie Financial Services roadshow
14 Jul 2006 Hanover looks to boost profit 20%
14 Jul 2006 Teaming up to buy property
13 Jul 2006 Why the Discussion Doc worries associations...
13 Jul 2006 ASFONZ / Women in Super Industry Breakfast
13 Jul 2006 Macquarie Financial Services roadshow
13 Jul 2006 Macquarie Financial Services roadshow
13 Jul 2006 Is the resources bubble about to pop?
13 Jul 2006 Health Funds' new board
12 Jul 2006 Lowest rate not necessarily best
12 Jul 2006 IRD confirms KiwiSaver dates
12 Jul 2006 Macquarie Financial Services roadshow
12 Jul 2006 Macquarie Financial Services roadshow
12 Jul 2006 Tower Health looking for partners
12 Jul 2006 Liontamer goes shopping for quality
11 Jul 2006 Bridgecorp gets four stars
11 Jul 2006 Macquarie Financial Services roadshow
11 Jul 2006 Macquarie Financial Services roadshow
11 Jul 2006 Murphy to head ASB's combined fixed interest business
11 Jul 2006 Mixed reaction to discussion document
10 Jul 2006 Macquarie Financial Services roadshow
10 Jul 2006 Macquarie Financial Services roadshow
10 Jul 2006 News Round Up
10 Jul 2006 UDC appoints new head of operations
09 Jul 2006 Views on regulating commissions
09 Jul 2006 Another lender sold
09 Jul 2006 House price growth slows again
09 Jul 2006 Property Market Continues to Slow
07 Jul 2006 St Laurence builds its cash reserves
06 Jul 2006 ASFONZ / Women in Super Industry Breakfast
06 Jul 2006 Keep grey list for funds: Expert
06 Jul 2006 AIA makes key appointments
06 Jul 2006 Deposit rates news briefs
05 Jul 2006 Latest bank marketshare results
05 Jul 2006 No tax relief available
05 Jul 2006 Adviser regulation document released
05 Jul 2006 Auckland property listings in demand
04 Jul 2006 Commission cautions on disclosure changes
04 Jul 2006 Tower announces new chairman
03 Jul 2006 2006 Professional Investment Services NZ conference
03 Jul 2006 Market review: Classic show-down between earnings and interest rates
03 Jul 2006 News Round Up
03 Jul 2006 Let’s Talk KiwiSaver Central Administrator
03 Jul 2006 Instant Finance calls for comprehensive and credible rating system
03 Jul 2006 Aspect Property Manager
01 Jul 2006 Aspect Property Manager
June 2006
30 Jun 2006 More trouble for Western Bay Finance
29 Jun 2006 BT appoints COO for New Zealand
29 Jun 2006 EquityPlus Fund
29 Jun 2006 Time to regulate commissions?
29 Jun 2006 Bondwatch notes Nationwide's upgrade
28 Jun 2006 The Asian miracle – on track, but risks are higher
28 Jun 2006 KiwiSaver prep a moving feast
28 Jun 2006 Economic news points to higher rates
28 Jun 2006 KiwiSaver prep a moving feast
28 Jun 2006 Accident claims long-standing life adviser
27 Jun 2006 Hedge fund skills to drive long-only investments
27 Jun 2006 Tyndall gets new analyst
27 Jun 2006 Economic news points to higher rates
27 Jun 2006 Changes at Tenancy Services for landlords
26 Jun 2006 More finance company research coming
26 Jun 2006 Best own goal
26 Jun 2006 News Round Up
23 Jun 2006 Baldwin to head ASBGI
23 Jun 2006 No rift between ministers on tax: Dunne
22 Jun 2006 Advisory regulation paper close
21 Jun 2006 Success Forum 2006
21 Jun 2006 MFS aims to become substantial player
20 Jun 2006 Deposit rates news briefs
20 Jun 2006 FPIA board meeting
20 Jun 2006 Two lawyers look at Provincial action
20 Jun 2006 Survey finds insurance advisers not ready for regs
20 Jun 2006 Say goodbye to Welcome Home Loans: National
20 Jun 2006 Two lawyers look at Provincial action
19 Jun 2006 News Round Up
19 Jun 2006 Kerr joins Rifleman
19 Jun 2006 Residential property market proved particularly resilient in May
19 Jun 2006 Revised Edition: Save Money on Your Mortgage
18 Jun 2006 Why the silence on Provincial?
16 Jun 2006 Another mortgage trust arrives
15 Jun 2006 Fund awards new mandate
15 Jun 2006 ING mid year roadshow
15 Jun 2006 Worst over for NZ economy
15 Jun 2006 New Zealanders richer than ever
15 Jun 2006 ASB and Kiwibank expand, HSBC goes backwards
14 Jun 2006 Provincial rescue plan failure sensible
14 Jun 2006 ING mid year roadshow
14 Jun 2006 COMPASS Product Launch Presentation
14 Jun 2006 Broadlands appoints new CFO
14 Jun 2006 Tax on life insurance next
14 Jun 2006 Rules catch another manager
13 Jun 2006 ING mid year roadshow
13 Jun 2006 COMPASS Product Launch Presentation
13 Jun 2006 House price inflation abates for fourth straight month
13 Jun 2006 Officials not interested in rating finance companies
13 Jun 2006 Officials not interested in rating finance companies
13 Jun 2006 Higher for longer
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