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November 2020
20 Nov 2020 AMP's move to passive creates opportunities for active managers
20 Nov 2020 Industry calls for Welcome Home Loan changes; BNZ axes branches
20 Nov 2020 Professional indemnity insurance: What advisers need to know
19 Nov 2020 Hawkes Bay adviser joins Milestone
19 Nov 2020 Tourism Holdings leads second fall for NZ shares
19 Nov 2020 Harmoney floats
19 Nov 2020 Industry keen for Welcome Home Loan changes
19 Nov 2020 SHARE and Newpark confirm merger; Countdown to healthy homes
19 Nov 2020 BNZ to shut 38 branches
19 Nov 2020 FMA seeks consultation on proposed guidance for advertising
18 Nov 2020 A2 Milk ends 11-day share market rally
18 Nov 2020 SHARE confirms Newpark acquisition
18 Nov 2020 SHARE confirms Newpark acquisition
18 Nov 2020 Newpark sold to surprise buyer; NZFSG-Kepa merger closes; Big bank broker boss retires
18 Nov 2020 Newpark sold to a surprise buyer
18 Nov 2020 Newpark sold to a surprise buyer
18 Nov 2020 Select Wealth Management launches adviser focused KiwiSaver scheme
18 Nov 2020 NZFSG-Kepa finalise merger
17 Nov 2020 Second vaccine sees investors eye recovery
17 Nov 2020 FMA release full licence application guide
17 Nov 2020 New director appointed to Lifetime board
17 Nov 2020 Liberty Financial plans IPO; How low will mortgage rates go?
17 Nov 2020 Liberty Financial plans stock market float
17 Nov 2020 First quarter claims rise, nib report
17 Nov 2020 Just 14 days until new healthy homes standards kick in
17 Nov 2020 PRI’s updated framework a challenge for responsible investors
16 Nov 2020 Fidelity Life dials up new tech
16 Nov 2020 NZ shares and dollar rise as optimism lingers
16 Nov 2020 How low will one and two-year rates go?
16 Nov 2020 New Loan Market CEO; Will we get negative rates?; ANZ brings back LVRs
16 Nov 2020 Perception of conflict of interest serious as the real thing
16 Nov 2020 Why negative rates might not be needed
15 Nov 2020 [The Wrap] Are banks heading for the advice exit door?
13 Nov 2020 F&P Healthcare drives gain as investors hedged on pandemic
13 Nov 2020 Loan Market names new CEO
13 Nov 2020 ANZ reintroduces investor LVRs
13 Nov 2020 Does liability for advice stop when clients are sold?
13 Nov 2020 ASB slashes rates, brings back investor LVRs; Advisers divided on LVR return
13 Nov 2020 Westpac and Forsyth Barr confirm strategic partnership
12 Nov 2020 Big bank broker boss retires
12 Nov 2020 Shares flat as volatile prices settle
12 Nov 2020 ASB brings back investor LVRs
12 Nov 2020 Financial Advice NZ and FMA partner to launch full licensing application guide
12 Nov 2020 New Zealand death rates low, despite Covid-19
12 Nov 2020 Advisers divided on LVR return
12 Nov 2020 Have the odds of a negative OCR fallen?; Orr defends LVR decision
12 Nov 2020 Does New Zealand really need four dispute resolution schemes?
11 Nov 2020 Dollar soars as investors price out negative cash rate
11 Nov 2020 Orr has no regrets on scrapping LVR limits
11 Nov 2020 Economists react to bank funding programme
11 Nov 2020 OCR decision revealed
11 Nov 2020 Reserve Bank looks to bring back lending restrictions
11 Nov 2020 LVR limits set to return; Bank capital rules delayed; How will RBNZ push down rates?
11 Nov 2020 LVR limits set to return
11 Nov 2020 What is the Reserve Bank's new plan to cut interest rates?
11 Nov 2020 Bank capital rules delayed until 2022
11 Nov 2020 Biden win boosts potential ESG boom
10 Nov 2020 Vaccine hopes prompt rotation into hardest hit covid stocks
10 Nov 2020 Southern Cross/ProCare partnership opens up virtual GP service
10 Nov 2020 Heartland 2.5% floating rate; ASB using DTI test; Pepper promise
10 Nov 2020 Adviser consultancy firms say full licensing provisions bring mandate for change
10 Nov 2020 ASB using debt-to-income ratios
09 Nov 2020 NZX 50 hits record; kiwi dollar at 18-month high
09 Nov 2020 Pepper makes trail pledge
09 Nov 2020 Heartland online floating rate falls to 2.5%
09 Nov 2020 OCR preview survey: what will the Reserve Bank do?
09 Nov 2020 [Obituary] Fred Dodds
09 Nov 2020 Elections, Covid waves come to the fore
09 Nov 2020 OCR to remain on hold: economists
06 Nov 2020 FNZ forced to sell GBST
06 Nov 2020 Synlait leads post election rally
06 Nov 2020 Tribunal divvies up blame in maintenance ruling
06 Nov 2020 [UPDATED] Full licensing rules finally released
06 Nov 2020 TSB undercuts big banks; Cashbacks back
06 Nov 2020 It’s inflation Jim but not as we know it
06 Nov 2020 Cash backs are back
06 Nov 2020 Billion dollar baby
05 Nov 2020 Equities markets rallied despite US election uncertainty
05 Nov 2020 Strong investment in NZ startups despite Covid uncertainty
05 Nov 2020 ASB pulls in branches to help with applications; FMA gets into fintech
05 Nov 2020 COMMENT: The importance of correct structuring
05 Nov 2020 ASB using branches for broker applications
05 Nov 2020 FMA appointments reflect serious move into fintech space
04 Nov 2020 Kiwi falls as US blue wave falters
04 Nov 2020 UniMed announces new chief executive
04 Nov 2020 Billion dollar baby; Businesses finding it tough
04 Nov 2020 Strong market attracting investors
04 Nov 2020 Auckland’s average price now $1million plus
04 Nov 2020 Long Covid case highlights a new challenge for the insurance industry
04 Nov 2020 Businesses doing it tough
04 Nov 2020 FileInvite raises $2.3 million to target US financial services customers
04 Nov 2020 'Advisers take note' RIAA welcome sustainable finance roadmap
03 Nov 2020 Australian rate cut fuels NZ shares
03 Nov 2020 New board member announced at FSCL
03 Nov 2020 ANZ Bonus Bonds scheme now in wind up
03 Nov 2020 FMA unveils tough guidelines on KiwiSaver fees, seeks consultation
03 Nov 2020 Could KiwiBuild home loans be at risk?
02 Nov 2020 US election keeps nervous investors on sidelines
02 Nov 2020 NZX Wealth Technologies aim for growth with new appointment
02 Nov 2020 Industry farewells Faafoi, welcomes new commerce minister
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