GoodReturns
Archive - 2014
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April 2014
02 Apr 2014 Cigna names new CEO
02 Apr 2014 ANZ opts to fight in two-year space
02 Apr 2014 Two years before savings flow back across Tasman
02 Apr 2014 Strong demand expected for LG tender
02 Apr 2014 Strong demand expected for LG tender
02 Apr 2014 Mortgage fraudster sentenced
02 Apr 2014 Rules drive buyers away
01 Apr 2014 Silver start for KiwiSaver scheme
01 Apr 2014 AMP offers direct life cover online
01 Apr 2014 Bank surprised at extent of lending drop
01 Apr 2014 Chapman gets chair of bank board
01 Apr 2014 New adviser for Plus4
01 Apr 2014 Will the global economy be better this year?
01 Apr 2014 New Christchurch advisers appointed
01 Apr 2014 LVR rules could be relaxed
01 Apr 2014 FMA signs MoU
01 Apr 2014 FMCA is here - time for FAA part two?
01 Apr 2014 Funds fees drop
01 Apr 2014 IMF still not happy about house prices
March 2014
31 Mar 2014 RBNZ could relax LVR rules: Westpac
31 Mar 2014 ASB joins the increases
31 Mar 2014 One month until Code kicks in
31 Mar 2014 How good are your systems?
31 Mar 2014 Apartment returns down: Report
31 Mar 2014 Drop in apartments drags consents down
28 Mar 2014 [WEEKLY WRAP] Getting a handle on AFAs
28 Mar 2014 Higher rates give RBNZ scope to lift LVR rules
28 Mar 2014 Default providers announced
28 Mar 2014 New code approved
28 Mar 2014 More bank offers coming
28 Mar 2014 Fewer complaints about unsolicited offers
28 Mar 2014 Hints LVR rules could go
27 Mar 2014 Low equity lending rises, but one bank expensive
27 Mar 2014 Westpac's top rate nudges close to double digit interest rate
27 Mar 2014 PAA boss: More focus on regional brokers
27 Mar 2014 Yield-seekers should look south: Report
26 Mar 2014 New head of individual wealth protection
26 Mar 2014 Second contributory mortgage broker pleads guilty
26 Mar 2014 Westpac removes and increases rates
26 Mar 2014 High-LVR lending inches up
26 Mar 2014 Return 'may just add work for advisers'
26 Mar 2014 Investors told to seek protection
26 Mar 2014 Apartments more popular
25 Mar 2014 Craigs profit up
25 Mar 2014 Concern DIMS rules may force advisers out
25 Mar 2014 Serviceability weighs on prices: Report
25 Mar 2014 Investors become commercial borrowers
24 Mar 2014 Reserve Bank legal powers tested
24 Mar 2014 FMA changes tack on AFA reporting requirements
24 Mar 2014 RESIMAC adds more options; Kiwibank increases short rates
23 Mar 2014 Portfolio manager at Fisher Funds steps aside
21 Mar 2014 FMA lays charges
21 Mar 2014 Fees still too high: Morningstar
21 Mar 2014 Westpac joins the party
21 Mar 2014 Most DIMS will be class: FMA
21 Mar 2014 AFA monitoring reveals some gaps
21 Mar 2014 KCL price set, Bayleys deal done
20 Mar 2014 Ward joins sharebroker
20 Mar 2014 Report questions FMA model
19 Mar 2014 Best bank rate review
19 Mar 2014 More fixed rate rises
19 Mar 2014 Non-CPD training 'still worthwhile'
19 Mar 2014 Eastern suburbs soaring
18 Mar 2014 Kiwis getting savvier about retirement savings
18 Mar 2014 Ross refund timeframe extended
18 Mar 2014 Rate rises moving to fixed rates
18 Mar 2014 Kiwibank merger details due mid-year
18 Mar 2014 Researcher outlines NZ plans
18 Mar 2014 Census shows more tenants
18 Mar 2014 Rents rise in central suburbs
17 Mar 2014 Not every one has moved yet
17 Mar 2014 Asset allocation by peer review
17 Mar 2014 First-home buyers 'radically scared away'
14 Mar 2014 Household indebtedness increasing
14 Mar 2014 Advisers drifting towards big organisations
14 Mar 2014 Buy not sell in May and go away?
14 Mar 2014 ANZ first out of the blocks
14 Mar 2014 Provinces suffering: Harcourts
13 Mar 2014 Grosvenor plans to back its KiwiSaver scheme into Fidelity Life one
13 Mar 2014 What the economists said
13 Mar 2014 van Eyk adds Practice Manager and former Macquarie adviser
13 Mar 2014 Morgan name dropped
13 Mar 2014 Debt servicing will be an issue: RBNZ
13 Mar 2014 OCR up 25 basis points
13 Mar 2014 The three-year wait is over. OCR up
13 Mar 2014 Conference-hopping not CPD, advisers told
13 Mar 2014 Hiking cycle begins
12 Mar 2014 Buoyant economy, buoyant bond issuance
12 Mar 2014 Housing approvals creep up
12 Mar 2014 FMA drops case against Bridgecorp
12 Mar 2014 Lack of knowledge no surprise to advisers
12 Mar 2014 DIMS a two-step process
12 Mar 2014 Rules affect landlords, too: NZPIF
11 Mar 2014 Nirvana for Sovereign
11 Mar 2014 BNZ removes high rates for low equity loans
11 Mar 2014 Inflation a hurdle for advisers this year
11 Mar 2014 BNZ removes high rates for low equity loans
11 Mar 2014 Bach owners say rental income vital
11 Mar 2014 Further signs of easing: REINZ
10 Mar 2014 Prepare for interest rate lift off
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