: End this ridiculous war on selling
Financial advisers are about to become collateral damage in the latest round of successive governments' war against our right to think for ourselves.
In continuing the centuries-old tradition of populist appeal against salespeople, the government has come up with section 71 of the Financial Markets Conduct Bill, which as currently written would make it very difficult for financial advisers to do their job of prospecting for new clients.
However, it makes perfect sense if you, like most New Zealand politicians, believe people are too stupid to make their own decisions and therefore need to have their choices kept to a minimum...MORE»
: KiwiSaver rot runs deeper than defaultsWednesday, April 11th, 7:00AM
The flawed KiwiSaver default provider system is symptomatic of wider problems with the scheme that need to be addressed if it is to achieve its objectives. MORE» |
Phil: Did the ISI/FSC miss an opportunity?Sunday, March 25th, 9:38PM
There's a game of musical chairs, with a diminshing number of chairs going on amongst the various lobby groups at the moment, MORE» |
Phil: What to make of the Kiwibank deal
Rumours had been circulating for a while that Gareth Morgan’s KiwiSaver business was on the market. Today we learnt that Kiwibank was the successful buyer of this business plus the other funds management and advice offerings from GMI.
MORE»Russell: Selling through employers
I always thought selling insurance to people through their employers was the flimsiest of propositions - why would anyone talk to you about insurance in the work café, with their mates hanging around for the ‘convenience' of paying for the same thing they can buy in the plush, private, offices of the bank for the same price?
MORE»Goldie: FATCAT. Opps I mean FATCA
I’m sure someone with a sense of humour thought up this acronym. Now some of you may be asking what an earth is FATCA? It is the: “Foreign Account Tax Compliance Act” to be imposed by the United States of America in 2013. What does this mean for little ol’ New Zealanders in the financial industry?
MORE»Phil: Greens KiwiSaver policy nice idea but...
The Green Party released its KiwiSaver policy yesterday which has all the hallmarks of a nice idea but probably not that realistic.
MORE»Phil: Forget about personality; Labour's policy has balls
I’ve said it before and yesterday’s savings policy announcement from Labour demonstrates it again. Labour understands savings issues far more than National. Its package is potentially a circuit breaker for this year’s election and will get people talking.
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