GoodReturns
Archive - 2015
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May 2015
21 May 2015 No surprise Budget leaves focus on Auckland housing market
21 May 2015 Assets of FX trader seized
21 May 2015 $52 million to address Auckland’s housing supply problem
21 May 2015 Budget 2015: Property Related Initiatives
21 May 2015 [BUDGET] New KiwiSaver members miss out on Kick Start
21 May 2015 AIA gets new chief executive
21 May 2015 Crown land to be used for affordable housing
21 May 2015 NZAM adds to exec team
21 May 2015 AML audit rush feared
21 May 2015 KiwiSaver members not on track
21 May 2015 Record migration means need for regional incentives
20 May 2015 Rents continue steady climb up
20 May 2015 NZIG turns to crowdfunding
19 May 2015 FSPR crackdown
19 May 2015 Ministry needs to better understand disputes schemes: FSCL
19 May 2015 Healthy lifestyle property market: REINZ
18 May 2015 Cancer cover suits direct market
18 May 2015 Defence Force seeks AFAs
18 May 2015 Wealth Defender IPO successful
18 May 2015 Multi-pronged attack on Auckland market means OCR cut likely
18 May 2015 NZX names new head of funds management business
18 May 2015 Lots of changes today
18 May 2015 Dodds: Higher requirement inevitable
17 May 2015 New tax measures aimed at speculators, overseas buyers
15 May 2015 Sovereign sells wealth platform
15 May 2015 Cash back or rate cut; What would you take?
15 May 2015 Sovereign breaks with ASB on one-year rates
15 May 2015 The only way is up for the PAA: Severn
14 May 2015 College adds mortgage adviser module
14 May 2015 Overseas buyers: are they an issue?
14 May 2015 Global upturn could knock NZ market
13 May 2015 RBNZ policy meant to chill Auckland market - but will it?
13 May 2015 Claims top $1 billion for another year
13 May 2015 Former Liberty BDM goes it alone
13 May 2015 New investors, tenants likely to bear brunt of RBNZ move
13 May 2015 Adviser pleads guilty
13 May 2015 Why has the Reserve Bank targeted investors?
13 May 2015 Steepening NZ yield curve
13 May 2015 RBNZ hits Auckland property investors
13 May 2015 Auckland landlords face new lending restrictions
13 May 2015 Auckland landlords face new lending restrictions
13 May 2015 Associations must change, IFA bosses say
13 May 2015 Cosignia acquired
12 May 2015 CFA putting investors first
12 May 2015 Property borrowing to get easier with arrival of LendMe
12 May 2015 Decline in NZ’s median price – but not Auckland’s
12 May 2015 Long rates up, short rates to fall?
12 May 2015 Another adviser for Plus4
12 May 2015 More banks call for OCR cuts
12 May 2015 KiwiSaver schemes lose QROPS status
12 May 2015 Private equity – a role for KiwiSaver? (Part 2)
12 May 2015 Rising price expectations, gloomy purchasing sentiment
11 May 2015 Insurance jobs up
11 May 2015 OCR cut forecasts increasing
11 May 2015 Fidelity Life appoints director
11 May 2015 BNZ rolls out new Special
11 May 2015 Old trail income under review
11 May 2015 Risk management a challenge
11 May 2015 Victory for business in change to earthquake rules
08 May 2015 NZF in administration
08 May 2015 PGC seeks $22 million from Bath St Capital
08 May 2015 KiwiSaver drives managed funds lift
08 May 2015 KiwiSavers reminded not to miss out
08 May 2015 Investors urged to consider alternatives
08 May 2015 Appeal for IRD campaign on property taxation
07 May 2015 BNZ banks on brokers
07 May 2015 ASB changes tune on OCR
07 May 2015 ASB now calling for two OCR rate cuts
07 May 2015 PAA votes to abolish holiday home scheme
07 May 2015 AMP supports commission cut
06 May 2015 State houses to go on sale in Tauranga & Invercargill
06 May 2015 First NZ censured, fined
06 May 2015 Brokers help ANZ
06 May 2015 Brokers play bigger role in ANZ home loan sales
06 May 2015 DIMS exemptions welcomed
05 May 2015 Complectus completes purchase
05 May 2015 Auckland price rises: a lesson in supply & demand
05 May 2015 AML relief for advisers
04 May 2015 The Problem with Zero Interest Rates
04 May 2015 Warehouse plans bonds offer
04 May 2015 Chinese banks in NZ likely to mean more choice, more competition
04 May 2015 SBS changes; ASB hikes commission rates
04 May 2015 Give tax break to retirement income products: Stewart
01 May 2015 Over 25% increase in Auckland home values since 2007
01 May 2015 Getting to know... Richard Stubbs
01 May 2015 Stanley steps down
01 May 2015 One low rate replaced by another
01 May 2015 ASB and Sovereign increase upfront commissions
01 May 2015 ISO supports disclosure law
01 May 2015 Milford suspension appropriate: NZSF
01 May 2015 KiwiSaver funds misclassifying risk: Research
April 2015
30 Apr 2015 Mai Chen sells wills business to Perpetual Guardian
30 Apr 2015 Has residential building activity stalled?
30 Apr 2015 What are the odds of a interest rate cut?
30 Apr 2015 SPI directors fined for breaching financial reporting rules
30 Apr 2015 No surprises in Reserve Bank’s OCR decision
30 Apr 2015 RBNZ outlines case for interest rate cut
30 Apr 2015 What the Reserve Bank said
30 Apr 2015 The Co-operative Bank goes under 5%
30 Apr 2015 Rebalancing poses problems
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.
1 day 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.
1 day 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.
3 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…
3 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