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September 2021
30 Sep 2021 Crypto out, but new funds in
30 Sep 2021 FMA steps up enforcement of AML breaches
30 Sep 2021 Health insurer offers free counselling sessions
30 Sep 2021 Measuring adviser wellbeing in NZ
29 Sep 2021 NZ shares fall with global rout
29 Sep 2021 Investors target newly built homes
29 Sep 2021 Property tax changes announced; Biggest banks big rate increases; NEW TMM Out now
29 Sep 2021 FMA extends regulatory relief - focus on good conduct
28 Sep 2021 Market Close: F&P Healthcare falls along with Aussie peers
28 Sep 2021 New builds: 20-year exemption from tax changes
28 Sep 2021 [UPDATED] Feedback prompts changes to Asteron's trauma cover
28 Sep 2021 Why work when houses make more money?
28 Sep 2021 KiwiSaver funds soar, non-contributors still a worry
28 Sep 2021 Harbour buys global fixed interest fund
28 Sep 2021 Can infrastructure investments provide protection from rising inflation?
27 Sep 2021 Rising bond yields push shares down
27 Sep 2021 nib foundation joins Clearhead partnership with former All Black
27 Sep 2021 Meth alarms for rentals
27 Sep 2021 Growth in house prices to fall significantly next year
26 Sep 2021 [The Wrap] It's time to check in on advisers' wellbeing
24 Sep 2021 Pacific Edge up 6%; while index dips
24 Sep 2021 [OBITUARY] Highly respected adviser passes on
24 Sep 2021 Tax deductibility rules could be revealed next week
24 Sep 2021 Advisers angered by BNZ pricing move; Westpac NZ appoints new chief executive
24 Sep 2021 Westpac NZ appoints new CEO
24 Sep 2021 Westpac appoints new chief executive
24 Sep 2021 AMLHUB integrates with RealMe to fight money laundering
24 Sep 2021 Rent levels countrywide
24 Sep 2021 Advisers angered by new BNZ pricing conditions
24 Sep 2021 Pathfinder and Newton Ross in NASDAQ listing
23 Sep 2021 Important Information
23 Sep 2021 Fonterra fund leads NZX 50 higher
23 Sep 2021 The future of financial advice - readers have their say
23 Sep 2021 Life cover - the hard sell for Kiwi insurers
23 Sep 2021 Investors continue to shy away from buying more property
23 Sep 2021 Co-op rate increases; Smaller hikes to follow next month; Full licensing latest
23 Sep 2021 JMI Wealth adds two new advisers
23 Sep 2021 October rate increases to follow recent moves
23 Sep 2021 [GRTV] What's driving adviser burnout?
22 Sep 2021 NZ shares up with Evergrande lurking in background
22 Sep 2021 Broker complaint dismissed
22 Sep 2021 David McClatchy joins several boards
22 Sep 2021 Experts ponder compulsory KiwiSaver
22 Sep 2021 NZ Green employs investment analysts
22 Sep 2021 Kiwibank lockdown rate hikes
22 Sep 2021 Kiwibank lockdown rate hikes
21 Sep 2021 NZ shares flat as global markets fear Evergrande crisis
21 Sep 2021 How much more life insurance needs to be sold
21 Sep 2021 Full licencing - what does it look like?
21 Sep 2021 Life insurers up for awards
21 Sep 2021 More changes at the top for Craigs IP
21 Sep 2021 CCCFA an opportunity for advisers; Borrowers abandon one year terms
21 Sep 2021 CCCFA an opportunity for advisers
21 Sep 2021 Borrowers abandon one year rates
21 Sep 2021 Traffic builds on the road to full licensing
20 Sep 2021 NZ shares consolidate from Friday rally
20 Sep 2021 FMG gets a new CEO for Christmas
20 Sep 2021 NZX Wealth Tech signs up boutique advice firm
20 Sep 2021 Westpac and BNZ follow with lockdown rate hikes
20 Sep 2021 Westpac and BNZ follow with lockdown rate hikes
20 Sep 2021 MMC picks up another default KiwiSaver provider
20 Sep 2021 What we know about the new FMA CEO
17 Sep 2021 Passive funds push NZX 50 higher
17 Sep 2021 Craigs IP exec heads to NZX Wealth
17 Sep 2021 Rents remain at all-time highs
17 Sep 2021 Removed to use on NZPI
17 Sep 2021 What office staff expect in a workplace
17 Sep 2021 Hardship clients face credit challenges
17 Sep 2021 Hardship clients face credit issues
17 Sep 2021 Jarden promotes new recruit
17 Sep 2021 FMA licensing workshops popular with Fidelity Life advisers
17 Sep 2021 How many Kiwis has KiwiSaver Saved?
16 Sep 2021 NZ shares down on ‘staggering’ GDP number
16 Sep 2021 BNZ cuts KiwiSaver and managed fund fees
16 Sep 2021 Southern Cross boosts surplus profits; Claims paid tops $1 bill
16 Sep 2021 FSC conference changes announced
16 Sep 2021 Major rate hikes at big four banks; Prospa raises A$200m
16 Sep 2021 Major rate hikes at big four banks
16 Sep 2021 Scam complaints rise sharply
16 Sep 2021 Prospa raises A$200 million for business lending
16 Sep 2021 BNZ latest to cut KiwiSaver fees
16 Sep 2021 First Mortgage Trust appoints BDM
15 Sep 2021 NZ shares slightly lower with US inflation data
15 Sep 2021 Mortgage rates have hit low point; TSB hikes; Nest Home Loans hires
15 Sep 2021 Mortgage rates have troughed: ASB
15 Sep 2021 Tereora drives off from life insurance
15 Sep 2021 New names at Nest Home Loans
15 Sep 2021 New recruit to focus on AML compliance
15 Sep 2021 Best ever returns for NZ Super Fund
14 Sep 2021 F&P Healthcare drags NZX50 down
14 Sep 2021 Big returns for NZ Super Fund
14 Sep 2021 Bulletproof house prices continue to climb
14 Sep 2021 OCR hike likely despite extended lockdown; New Auckland franchise owner for Mike Pero
14 Sep 2021 Key consultations to protect policyholders
14 Sep 2021 New Auckland franchise owner for Mike Pero
14 Sep 2021 ANZ appoints new head of funds management
14 Sep 2021 Cryptocurrencies: MPs hear the good, bad and ugly
13 Sep 2021 Who would have thought: Shares rise despite lockdown extension
13 Sep 2021 OCR hike likely despite lockdown: ANZ
13 Sep 2021 Cigna NZ announces two new deals
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.
2 weeks 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.
2 weeks 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