GoodReturns
Archive - 2002
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March 2002
01 Mar 2002 More tinkering around the edges
01 Mar 2002 Letter to Commerce Minister
01 Mar 2002 Securities Commission recommendations for advisers
01 Mar 2002 BNZ's double combo
February 2002
28 Feb 2002 Cullen fudges over super fund
28 Feb 2002 Major tax changes looming
27 Feb 2002 Succession planning: Selling to managers
27 Feb 2002 Mortgages up $422 million in January
27 Feb 2002 Markets hurt AMP's profit
27 Feb 2002 Manager changes get tick
26 Feb 2002 HFA opposes rating health insurers
26 Feb 2002 Tax treatment of super a disgrace
26 Feb 2002 Women in Super
26 Feb 2002 Housing consents rise but trend may have slowed
26 Feb 2002 Commission proposes significant changes
25 Feb 2002 Walker joins AMP
25 Feb 2002 Adviserlink Introduction to Financial Planning
25 Feb 2002 Absolute return allows greater flexibility
25 Feb 2002 News Round Up
22 Feb 2002 Govt to adopt key McLeod review idea
22 Feb 2002 Cullen to level tax playing field
22 Feb 2002 Govt to adopt key McLeod review idea
22 Feb 2002 S&P lowers SX's credit rating
22 Feb 2002 Lombard exits contributory mortgage business
22 Feb 2002 Estate agent to hook into mortgages
22 Feb 2002 Business opposes 65 at 65
21 Feb 2002 New opportunities under act
20 Feb 2002 AJ drops Fiduciary as sole manager
20 Feb 2002 SX must raise premiums
20 Feb 2002 Software package annoys advisers
20 Feb 2002 Two different types of hedge funds
20 Feb 2002 Changes at FundSource
19 Feb 2002 Housing market robust in January
19 Feb 2002 Walker sues AMP for $1m
19 Feb 2002 Poor markets end investors' holiday
18 Feb 2002 News Round Up
18 Feb 2002 FundSource Introduction to Financial Planning
18 Feb 2002 Kiwibank won't use mortgage brokers for now
18 Feb 2002 Tower launches new health contracts
18 Feb 2002 Growth assets strongly favoured
15 Feb 2002 Colonial buys NZ trust
14 Feb 2002 Liberty to launch in NZ after raising $A1 billion
14 Feb 2002 New head of brokers and alliances at AXA
14 Feb 2002 Armstrong Jones - Roadshow
14 Feb 2002 Improving terminal illness cover
14 Feb 2002 Managers careful not to be Enron'd
14 Feb 2002 Absolute return allows greater flexibility
13 Feb 2002 Mortgage rates likely to rise
13 Feb 2002 Armstrong Jones - Roadshow
13 Feb 2002 Mother of all stimulations excites panel
12 Feb 2002 Nats say cull the campaign
11 Feb 2002 FPIA Convention should go with a bang
11 Feb 2002 Valuing property under the new act
11 Feb 2002 Armstrong Jones - Roadshow
11 Feb 2002 Adviserlink Introduction to Financial Planning
11 Feb 2002 New executives for Perpetual Trust
11 Feb 2002 Broadbase Egmont grows
10 Feb 2002 National's U-turn a retrograde step
10 Feb 2002 News Round Up
08 Feb 2002 How to retire young and rich
08 Feb 2002 AMP welcomes commitment to encourage savings
08 Feb 2002 National's policy fine for big earners: Cullen
08 Feb 2002 Act welcomes National's announcement
08 Feb 2002 National to offer tax incentives for long-term savers
08 Feb 2002 ASB takes selective approach to Kiwibank
07 Feb 2002 Flows into OEICs slow
07 Feb 2002 Farrell quits Commission
07 Feb 2002 No rush to match Kiwibank expected
07 Feb 2002 Winter at Morningstar
07 Feb 2002 Flexibility and proven performance the key
07 Feb 2002 Charles J. Swindells - U.S. Ambassador to New Zealand
07 Feb 2002 RSA sizes up the health market
07 Feb 2002 Succession Planning: Networks
07 Feb 2002 RSA sizes up health market
06 Feb 2002 Tucker lays out 2002's hurdles
05 Feb 2002 A strange quarter
05 Feb 2002 One out of three
04 Feb 2002 Who gets what under the new laws
04 Feb 2002 Direct Home Loans sold to PTO
04 Feb 2002 Public Trust appoints manager
03 Feb 2002 News Round Up
01 Feb 2002 Mortgage borrowing rises
01 Feb 2002 Waltus still trying to refinance KPMG
01 Feb 2002 The will as an effective estate planning tool…but not your will
January 2002
31 Jan 2002 Private equity becomes more popular
31 Jan 2002 Letter: Super ball hoofed downfield
31 Jan 2002 Grosvenor nabs BNZ man
30 Jan 2002 SX boss Bowie resigns
30 Jan 2002 Commission outlines role of an adviser
30 Jan 2002 Opinion: Lenders’ profitability a factor
30 Jan 2002 Judges divided on SX decision
29 Jan 2002 Housing consents slowdown
29 Jan 2002 New strategist at BNZ
29 Jan 2002 Get focussed on the year ahead
28 Jan 2002 Economy: NZ economy likely to struggle
28 Jan 2002 Intl shares: Spectacular growth unlikely this year
28 Jan 2002 NZ shares: Upside Down Under?
28 Jan 2002 Bonds: Another Solid Return Expected
28 Jan 2002 Super: Political parties yet to show their superannuation hand
28 Jan 2002 Financial Planning: Competition about to go hyper
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.
2 days 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.
2 days 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.
4 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…
4 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".
5 days ago Paul Flood