GoodReturns
Archive - 2022
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December 2022
30 Dec 2022 NZ shares fall in last trading session of the year
29 Dec 2022 NZ market ignores international headwinds
29 Dec 2022 Fisher get KiwiSaver default status
29 Dec 2022 The latest billion dollar broker
29 Dec 2022 The latest billion dollar broker
27 Dec 2022 Equities 2023 – What’s the bigger risk?
23 Dec 2022 Wall Street selloff casts shadow over NZ market
23 Dec 2022 Artificial Intelligence (AI) about to become mainstream?
22 Dec 2022 NZ shares turn over just $83m as market settles down for Christmas
21 Dec 2022 NZ market steady as kiwi nosedives against Japanese yen
21 Dec 2022 FMA files court proceedings against Tiger Brokers
21 Dec 2022 Sustainability lag risks NZ trade
21 Dec 2022 [Opinion] Conflict of interest queries ironic
21 Dec 2022 Accuro IT infrastructure compromised by cyber attack
21 Dec 2022 Mercer finally gets Macquarie
20 Dec 2022 Sad Santa? Christmas rally looking less and less likely for NZ market
20 Dec 2022 Sad Santa? Christmas rally looking less and less likely for NZ market
20 Dec 2022 Who could take over the Commerce portfolio?
20 Dec 2022 NZX companies rated on carbon and ESG
19 Dec 2022 NZ shares fall on start of Christmas week
19 Dec 2022 Retirement commissioner re appointed for second term
19 Dec 2022 Faint glimmer of hope but train still in the tunnel
19 Dec 2022 Who could take over the Commerce portfolio?
19 Dec 2022 Advisers generate few complaints
19 Dec 2022 AIA adds new BDM
19 Dec 2022 Effectively managing your cyber risk
16 Dec 2022 NZ market flat as Christmas period kicks off
16 Dec 2022 Pull back in construction sector long time coming
16 Dec 2022 Advisers can ride on non-bank coat-tails
16 Dec 2022 Climate disclosure standards are out
16 Dec 2022 Advisers can ride on non-bank coat-tails says broker
16 Dec 2022 Venture capital attracts another KiwiSaver
15 Dec 2022 Market close: Mayor Brown causes market turmoil over airport
15 Dec 2022 Large mortgage fraud case comes to an end
15 Dec 2022 Property market slump deeper than predicted
15 Dec 2022 The rise of the digital investor
14 Dec 2022 NZ market flat as US inflation data surprises
14 Dec 2022 FMA files market manipulation case
14 Dec 2022 Beleaguered housing market takes a fresh leg lower
14 Dec 2022 Non-banks thrive; Liberty gets new BDM
14 Dec 2022 Otago study turns up ESG lemons
14 Dec 2022 Non-bank sector thrives despite uneven playing field – KPMG
13 Dec 2022 New Zealand’s market edges up ahead of US inflation data
13 Dec 2022 Liberty Finance appoints new BDM
13 Dec 2022 Westpac gets new chief economist
13 Dec 2022 Market flips – biggest dive in five years
13 Dec 2022 [BREAKING NEWS] CCCFA Minister departs
13 Dec 2022 Commerce Minister departs
13 Dec 2022 House values down more than $100,000 this year
13 Dec 2022 Privacy Commissioner ponders higher penalties
12 Dec 2022 NZ shares fall ahead of big financial news week
12 Dec 2022 What’s in store for next year
12 Dec 2022 AIA NZ broadens Living Trauma product range for children
12 Dec 2022 AIA NZ offers customers one year’s premium in new campaign
12 Dec 2022 Economy will be slowing but not reaching recession
12 Dec 2022 Economy will be slowing but not reaching recession – forecasts
11 Dec 2022 Partners Life wins best life insurer award
11 Dec 2022 Big KiwiSaver providers go for digital tools for advice
11 Dec 2022 The price people pay for higher mortgage rates
09 Dec 2022 Heavyweight stocks edge NZ's market down
09 Dec 2022 Omega Capital adds experienced property finance specialist
09 Dec 2022 Kiwibank increases commission and rates
09 Dec 2022 Commerce minister tipped to leave parliament
09 Dec 2022 Seven thousand waitlisted for Sharesies KiwiSaver
08 Dec 2022 [Market Close] Fonterra units jump on earnings guidance
08 Dec 2022 Kiwibank raises commission payments for advisers
08 Dec 2022 Morningstar head of research departs
08 Dec 2022 Hastings-based FAP first of its kind to become B Corp
08 Dec 2022 Asteron Life launches pilot programme
08 Dec 2022 Building material rebates dumped just ahead of Comcom report
08 Dec 2022 Tough conditions for investor buying
07 Dec 2022 Market slow, but not in full retreat
07 Dec 2022 Energy companies up as carbon prices drop
07 Dec 2022 Sharesies launches Kiwisaver scheme
07 Dec 2022 FMA aware of ASIC enforcement on Vanguard
06 Dec 2022 [Market Close] RBA hikes by non-surprising 25 basis points
06 Dec 2022 The true value of financial advice
05 Dec 2022 Kiwi hits 10-month high vs Aussie
05 Dec 2022 Florida threat to BlackRock ESG
05 Dec 2022 Kiwi plans on funding retirement
05 Dec 2022 Generate nabs Kiwi Wealth PM
05 Dec 2022 How inflation stole Christmas
03 Dec 2022 Regulations on family violence and assaults at tenancies explained
02 Dec 2022 NZ shares gain 2.5% this week
02 Dec 2022 What's happening with bank home loan rates?
02 Dec 2022 Fisher Funds finally brings Kiwi Wealth on board
02 Dec 2022 Average house price falls nearly $90,000 in past year
02 Dec 2022 New guidelines for being prepared for advisers under CoFI
02 Dec 2022 Go deeper than ESG ratings for the real deal
01 Dec 2022 Vale Dave Wilson
01 Dec 2022 NZ dollar hits three month high
01 Dec 2022 New guide climate change guide for directors
01 Dec 2022 Avanti snares long-term ASB exec
01 Dec 2022 NZ Super Fund moves from RI to sustainable finance
01 Dec 2022 More Kiwis in debt - Centrix
01 Dec 2022 Westpac follows ANZ and puts up rates; Avanti snares top banker
November 2022
30 Nov 2022 Gentrack shares soar for a second day
30 Nov 2022 Investors joining forces on systemic ESG issues
30 Nov 2022 ANZ increases home loan rates
30 Nov 2022 Huge house price pain still to come
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