GoodReturns
Archive - 2016
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June 2016
14 Jun 2016 Scam email targets finance sector
14 Jun 2016 SBS appoints former ASB exec as its new CEO
14 Jun 2016 More KiwiSaver options wanted
14 Jun 2016 Blaming landlords not the answer
14 Jun 2016 AMP appoints co-head of New Zealand fixed income
14 Jun 2016 Banks tighten belt on foreign borrowing
14 Jun 2016 Clarification offered on Financial Advice NZ questions
14 Jun 2016 Ross liquidators contact more investors
13 Jun 2016 ASB joins other main banks in limiting foreign borrowing
13 Jun 2016 ASB joins banks restricting foreign buyers
13 Jun 2016 Property hunter
13 Jun 2016 BNZ just pips Westpac with new Special
13 Jun 2016 FMA must reveal more of Warminger case
13 Jun 2016 A focus on sustainable growth and quality
13 Jun 2016 NZX sees ETF popularity grow
10 Jun 2016 Former Southern Cross boss dies
10 Jun 2016 Bay of Plenty new growth star
10 Jun 2016 RBNZ says LVR restrictions worked; but not how people expected
10 Jun 2016 Details of Financial Advice NZ yet to be worked out
10 Jun 2016 Rotorua property auction delivers varying results
10 Jun 2016 BNZ, Westpac, ANZ restrict foreign lending
09 Jun 2016 More investor lending restrictions looming
09 Jun 2016 PAA and IFA reveal plans to launch new, unified organisation
09 Jun 2016 LVR restrictions stopped $20 bill of lending
09 Jun 2016 More on OCR announcement plus Live Webcast
09 Jun 2016 Financial stability reason for unchanged OCR
09 Jun 2016 Risk poor policy analysis could affect commission decisions
09 Jun 2016 OCR stays at 2.25% - What the bank said today
09 Jun 2016 Official Cash Rate left unchanged
09 Jun 2016 PAA and IFA reveal plans to launch new, unified organisation
09 Jun 2016 New option offered to pension transferers
09 Jun 2016 Without a voice
08 Jun 2016 Investor opportunities exist in Chch
08 Jun 2016 'Drastic' lending changes to challenge investors
08 Jun 2016 Trades concentrated with top five brokers
07 Jun 2016 ANZ's lending changes surprise mortgage advisers
07 Jun 2016 Boosting Auckland returns with AirBnB
07 Jun 2016 Cashing in on interest rates
07 Jun 2016 Mortgage Supply lassos brokers out West
07 Jun 2016 Investors want more engagement
07 Jun 2016 A view of Brexit, from London
06 Jun 2016 Financial services people recognised in Queens Birthday awards
03 Jun 2016 Brokers real success story for The Co-operative Bank
03 Jun 2016 OCR holding - Economists
03 Jun 2016 [EXCLUSIVE] Banks capture most new AFAs
03 Jun 2016 OCR calls favour hold
03 Jun 2016 Auckland prices static
02 Jun 2016 Councils must open up land to match growth
02 Jun 2016 Don't believe all the hype about property flipping
02 Jun 2016 Frequent flipping a myth
02 Jun 2016 Adviser helps train up new AFAs
02 Jun 2016 Rental insulation requirements are now law
01 Jun 2016 Credit Union Baywide receives good news
01 Jun 2016 Investors driving value growth - QV
01 Jun 2016 Waikato market surprises
01 Jun 2016 No rush to cut OCR
01 Jun 2016 Changes at Westpac
01 Jun 2016 $1.9 mill start for PAA Legacy Trust
May 2016
31 May 2016 Auckland under pressure
31 May 2016 Consents drop amid supply furor
31 May 2016 Less urgency to cut OCR but bias remains
31 May 2016 The problem with the ideal
31 May 2016 HSBC: OCR holding till August
31 May 2016 Nice 5th birthday present for Partners Life
31 May 2016 The Partner's story rolls on with a new multi-million investment
30 May 2016 New Watercare option for Auckland landlords
30 May 2016 OCR on hold till August - HSBC
30 May 2016 Kiwibank's 3.99% gone
30 May 2016 Brexit, stage left
30 May 2016 Fee guidance doesn't answer all questions
30 May 2016 Rich pickings in NZ's fruit bowl
27 May 2016 Budget unlikely to change Reserve Bank views
27 May 2016 Investors dominating housing market
27 May 2016 Code changes likely by year's end
27 May 2016 Too cool for comfort?
26 May 2016 More needed to address supply issues
26 May 2016 Budget 2016: what it has to say on property
26 May 2016 TSB tweaks
26 May 2016 FMA: Changing regulatory landscape hard for some
26 May 2016 Investors’ mortgage lending share up
26 May 2016 Investors dominating market
26 May 2016 SHA fast-tracking to be protected
25 May 2016 First NZ buys wealth firm
25 May 2016 Optioning commercial alternatives
25 May 2016 The Co-Op Bank makes changes
25 May 2016 Tax changes suggested to hit richer pensioners
24 May 2016 Tactical guessing game
24 May 2016 Demand pushes Auckland rents up
24 May 2016 Investors brace for higher interest rates
24 May 2016 Property investment loans to cost more
24 May 2016 Crown land supply plan moves forward
24 May 2016 Managing investment risk
24 May 2016 FMA: Advice at retirement 'crucial'
23 May 2016 June cut speculation
23 May 2016 Inflation concerns could mean June cut
23 May 2016 What do you cut when something has to give?
23 May 2016 Maximising development returns
23 May 2016 Lack of advisers a '10- to 30-year problem'
22 May 2016 Fraudulent former adviser fails in court bid
20 May 2016 Hefty penalty for real estate price fixing
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