GoodReturns
Archive - 2008
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December 2008
24 Dec 2008 Charges laid against Bridgecorp and Nathans directors
24 Dec 2008 Westpac's Q4 profit and mortgage market share shrink
23 Dec 2008 2009 Investment predictions discussed
23 Dec 2008 Key investment trends for 2009 predicted
22 Dec 2008 Campbell to head up Guardian Turst
22 Dec 2008 Strategic wins investor approval for moratorium
22 Dec 2008 Bargain bonanza in coastal holiday towns
22 Dec 2008 New rules seemingly shrink BNZ mortgage book
22 Dec 2008 News Round up...
19 Dec 2008 Fonterra plans retail bond offer
19 Dec 2008 Era of the shrewd investor
19 Dec 2008 RIF/DYF report reveals ugly truth
19 Dec 2008 Further cuts on the horizon
18 Dec 2008 More questions to ponder about credit funds
18 Dec 2008 Octaviar agreement to free up cash for OPI
18 Dec 2008 Building a trusted financial sector
17 Dec 2008 Dorchester Finance investors approve plan
17 Dec 2008 Wizard puts away wand
17 Dec 2008 Implemented consulting a flop, departing Russell NZ admits
17 Dec 2008 New Russell NZ boss based in Oz
17 Dec 2008 Opinion: Insurance makes you feel wealthy
17 Dec 2008 Kiwis looking to property again
17 Dec 2008 Officials paint gloomy picture
16 Dec 2008 Advisers demand more from ING
16 Dec 2008 Things looking up for property investors
16 Dec 2008 Tauranga: Bargains in the bay
15 Dec 2008 Market Review: December 2008 Commentary
15 Dec 2008 Market Review: London December 2008 Commentary
15 Dec 2008 Share gets a new chairman
15 Dec 2008 Morningstar disappointed with ING decision
12 Dec 2008 [Weekly Wrap]
12 Dec 2008 Numbers speaking volumes
12 Dec 2008 Tower tweaks trauma conditions and benefits
12 Dec 2008 Wait for categorical advice, PAA chief warns
11 Dec 2008 KiwiSaver-lite gets green light
11 Dec 2008 Tower: Beating back the bear
11 Dec 2008 Median house price edges higher in November: REINZ
11 Dec 2008 Residential Highlights – November 2008
11 Dec 2008 ING births plan nine months after freeze
11 Dec 2008 Time to go down under
10 Dec 2008 Two more ING funds closing
10 Dec 2008 Floating rates that don't sink
10 Dec 2008 Now the hard work for Hanover
10 Dec 2008 PIE fund with a difference
10 Dec 2008 ING seeks to wind up distressed credit funds
10 Dec 2008 PIEs give IRD tummy ache
10 Dec 2008 Pinnancle pushes into adviser market
09 Dec 2008 Hanover shareholders vote in favour of plan
09 Dec 2008 UPDATED: Question time for Hanover big-wigs
09 Dec 2008 Hanover meeting underway
09 Dec 2008 Dyer to advise English on economics
09 Dec 2008 HSBC's mortgage book shrinks but profits jump
09 Dec 2008 Default on rental debt leaving landlords out of pocket
08 Dec 2008 Attempt to stop Hanover meeting fails
08 Dec 2008 Kiwibank welcomes wealth manager
08 Dec 2008 News Round Up
08 Dec 2008 Average house price falls for a second month
08 Dec 2008 Main urban areas commentary: QV
05 Dec 2008 KiwiSaver enters Reserve Bank stats with style
05 Dec 2008 [Weekly Wrap] Talk about falling rates
05 Dec 2008 Babcock wins reprieve, but note-holders pushed back in queue
04 Dec 2008 Auckland property sales fall
04 Dec 2008 Rates down, down, down - market up?
04 Dec 2008 Hanover Roadshow
04 Dec 2008 Bollard slashes interest rates
04 Dec 2008 New legal head for AIG
04 Dec 2008 MPS announcement
04 Dec 2008 OCR reduced to 5%
04 Dec 2008 Communication the key
04 Dec 2008 OCR reduced to 5%
03 Dec 2008 The difference between Hanover and ING
03 Dec 2008 Genesis sets rates
03 Dec 2008 What finance company investors need to consider
03 Dec 2008 SCF opens bond offer
03 Dec 2008 Mortgagee website a hit
03 Dec 2008 Hanover Roadshow
03 Dec 2008 Hanover Roadshow
03 Dec 2008 Genesis Energy launches $225 mill bond offer
03 Dec 2008 ASB, Kiwibank take lion's share of Sept qtr mortgage lending
03 Dec 2008 OCR shock needed to resuscitate risk
03 Dec 2008 Creating Cash Flow
03 Dec 2008 Tenants can now pay rent online
02 Dec 2008 Finance company sector turned on its head
02 Dec 2008 AIG releases product enhancements
02 Dec 2008 Strategic wins trustee support for moratorium
02 Dec 2008 Hanover Roadshow
02 Dec 2008 Hanover Roadshow
02 Dec 2008 Opinion: Think big for risk
02 Dec 2008 Kiwi and Allied to merge
01 Dec 2008 Hanover Roadshow
01 Dec 2008 Dorchester posts $35m loss
01 Dec 2008 Fisher and Morrison launch first fund
01 Dec 2008 News Round Up
01 Dec 2008 Investors looking for property in Manakau
November 2008
30 Nov 2008 Whopper rate cut coming: Economists
30 Nov 2008 ANZ National's bad loan provisions soar
28 Nov 2008 Geneva says BOS reconfirms $35m facility
28 Nov 2008 [Weekly Wrap] Tough decisions are coming
28 Nov 2008 Pouncing on problems
28 Nov 2008 PIS November Development Days
Latest News
Advice adds at least 5% a year, but clients can’t see most of it
Advice adds at least 5% a year, but clients can’t see most of it
4 min read
Adviser use of ETFs likely to continue to grow, Smart says
Adviser use of ETFs likely to continue to grow, Smart says
2 min read
FMA outlines its latest expectations for advisers
FMA outlines its latest expectations for advisers
6 min read
[Weekly Wrap] KiwiSaver in play; but outcome unclear
[Weekly Wrap] KiwiSaver in play; but outcome unclear
2 min read
Latest Comments
FMA outlines its latest expectations for advisers
Paul Flood: The danger is that the 'goalposts' (regarding what is acceptable or unacceptable adviser conduct) may be susceptible to change. Our 'Principles based' legal/regulatory environment lends itself to “prevalence-induced concept change” over time, perhaps not so much in the written laws and Code, as in the interpretation of the prescribed principles.
21 hours ago Steve Wright
FMA outlines its latest expectations for advisers
Just a tip, if you use more than six, six letter words in a sentence you lose most Kiwi's. So avoid client/adviser confusion when writing your post or article if you would like it read and understood. Ironically, my last sentence was not likely read.
23 hours ago Backstage
FMA outlines its latest expectations for advisers
All things said are great aspirational goals for a great financial advice industry, it mirrors what both the legislation and the code requires. However, like most things discussed it talks about what's expected not how it's done. The hardest aspect of financial advice today isn't what it is, it is how it is done. The how only comes from those that have done it, the how is only provided with examples. Guidance documents that spell out what's required along side how it it done. We’re still dealing with the same issues we started with in 2021, figuring out the how. And figuring out the how in every advice business is consuming resources that could easily be shortcut by the FMA demonstrating what they are expecting. It's not about “do it this way” its about this is the sorts of things we’re looking for. In the absence of standards and expectations, guesswork prevails. That represents significant risk to FAPs and the result is onerous overcooked advice processes for multiple advice operations and undercooked she’ll be right for single operators focused on getting the work done. Both approaches have potential for harm and as its been said earlier, leaves advisers open to explain they haven't been speeding with the authorities have pulled them over. The advice industry needs guidance on the how we know the what already.
2 days ago Jon-Paul Hale
Who is responsible for notifying policy changes?
Sticking an oar in, while we have “service” requirements the expectation that an adviser is responsible for discussing said change is relying heavily on assumption. 1. That the client hasn't moved and contact details haven't been updated. It happens more often than many think. 2. It assumes there is a servicing agreement in place to provide service. Remember the requirement is to scope service not provide it. A client deciding to have ad-hoc service on their request is a legally valid position to have. 3. If there is a service agreement that's realistic to what is expected, how long does the adviser push the issue to have the discussion before moving on with everything else they have to do? Again, a point that is not clear in the guidance to date. The challenge of the present rules is the adviser is responsible for ensuring the client understands the advice provided. How do you ensure you're covering this if a client doesn't engage despite genuine attempts to manage it? There's still a lot of “what if’s” in this whole are we’re only going to have clarity on once someone is taken to task about it. But first we need to have clarity on what ongoing service actually is, because right now demonstrated by the direct providers a letter once per year with a please call if you want to discuss is the current minimum…
2 days ago Jon-Paul Hale
FMA outlines its latest expectations for advisers
To correct errors in my previous post: "policies, templates, and controls" should read "policies, processes, systems and controls", and "is more conductive" should read "is more conducive".
3 days ago Paul Flood