GoodReturns
Archive - 2023
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May 2023
12 May 2023 ComCom study mulled as trust in banks wanes
12 May 2023 First home buyer sales slump but market share high
12 May 2023 Morningstar MD heading off
11 May 2023 NZ sharemarket see-saws with near 1% fall
11 May 2023 What mortgage advisers need to do in a changed mortgage world
11 May 2023 Advising clients in a changed mortgage world
11 May 2023 DWTS winner becomes AIA Vitality Coach
11 May 2023 Market keeps getting worse as sales collapse
10 May 2023 NZ sharemarket gains nearly 1%, Pushpay bids farewell to NZX
10 May 2023 InvestNow adds another manager to its KiwiSaver scheme
10 May 2023 FMA censures advice firm; Tony Alexander's latest housing market update
10 May 2023 House buyers slow on reading market changes
10 May 2023 Aurora pinged for misleading clients
10 May 2023 A good quarter for KiwiSaver
10 May 2023 Kiwi investment in companies destroying tropical rainforests increases
09 May 2023 Stormy weather dampens uncertain NZ sharemarket
09 May 2023 Westpac in catch-up mode
09 May 2023 More than half Westpac's business is from advisers
09 May 2023 Financial advice with a side of solar
09 May 2023 Working out how long you will live
08 May 2023 Tower earnings downgrade causes sharemarket stir
08 May 2023 Westpac fattens margins as mortgage book grows
08 May 2023 DTIs will make life harder for advisers
08 May 2023 How DTIs will affect mortgage advisers
05 May 2023 NZ sharemarket finishes week down more than 0.5%
05 May 2023 [GRTV] AIA discusses the evolution of change in the industry
05 May 2023 Valuation methods are in the eye of the beholder
05 May 2023 ANZ admits latest profit is big, but defends it
05 May 2023 ANZ posts $1 billion plus profit
05 May 2023 When it comes to equities, there is no hiding from the voting machine
04 May 2023 NZ market bounces back from morning low
04 May 2023 BNZ slowly lifts mortgage broker business
04 May 2023 Where in the Code is this?
04 May 2023 RBNZ gives its take on house prices
04 May 2023 Don’t expect any Government handout for mortgage repayment stress
04 May 2023 How DTIs will affect investors
04 May 2023 Sharesies KiwiSaver to include stocks in a self-select option
03 May 2023 US banking and NZ inflation worries causes sharemarket slump
03 May 2023 Have banks reintroduced sales targets?
03 May 2023 Reports of sales targets prompt FMA letter to banks
03 May 2023 NZ Super Fund CEO announces retirement
03 May 2023 Auckland sales at 22 years low
03 May 2023 NZX wrap platform looking to add four more firms
03 May 2023 Home loan arrears rising
03 May 2023 Insurance advisers should expect above trends claims increases
02 May 2023 NZ's sharemarket up while Australia's takes a dive
02 May 2023 Snail’s pace for new listings
02 May 2023 Simplicity expands with new funds and allocation changes
02 May 2023 How much money paid to banks in interest revealed; ANZ cuts
02 May 2023 Mortgage interest payments rising rapidly
01 May 2023 Quiet start to NZ sharemarket's week, optimism for strong US earnings season
01 May 2023 InvestNow KiwiSaver Scheme: A Simple Solution for Advisers
01 May 2023 LVR tweaks substantive for owner-occupier
01 May 2023 Work from home lifts rents in outer suburbs
01 May 2023 LVR tweaks substantive for owner-occupiers
01 May 2023 Paul Bevin joins board of boutique fund
01 May 2023 Adviser roadshow for nib new life and living product
April 2023
30 Apr 2023 New and cheaper PI insurance hits the market
28 Apr 2023 NZ sharemarket lifts after positive news from the US
28 Apr 2023 House price falls predictions drop
28 Apr 2023 Next OCR hike not needed, economist says
28 Apr 2023 Droves of landlords want to raise rents
28 Apr 2023 [GRTV] Adviser’s obligations in ethical investing
27 Apr 2023 Auckland airport shares return to previous highs
27 Apr 2023 OCR cuts by November prediction
27 Apr 2023 From worm farms to loans
27 Apr 2023 Adviser returns from 15-year absence to much tougher finance market
27 Apr 2023 Simplicity switches out Vanguard for tax gain
26 Apr 2023 NZ market down following Synlait profit downgrade
26 Apr 2023 Finally....LVR rules to be loosened
26 Apr 2023 Unpopular LVR rules to be loosened
26 Apr 2023 Employers including KiwiSaver as part of pay packets instead of on top
26 Apr 2023 How many advisers have left the industry?
25 Apr 2023 [GRTV] InvestNow past, present and future
24 Apr 2023 Sharemarket starts week on a buoyant note
24 Apr 2023 nib kicks off kids' relay comp
24 Apr 2023 Demand for mortgages continues to decline; good and bad news on the inflation war
24 Apr 2023 Lawyer petitions for probate tweak on KiwiSaver funds
24 Apr 2023 Mental suffering underlined in failed eviction bid
24 Apr 2023 Some good and bad news on the inflation war
24 Apr 2023 The Ides of March
24 Apr 2023 Demand for mortgages continues to decline: RBNZ
24 Apr 2023 How to set rents when inflation is rampant
23 Apr 2023 Passive managers piggy backing off active manager
22 Apr 2023 Gotta get comfortable using capital in retirement
21 Apr 2023 Sharemarket ends week with an upwards tick
21 Apr 2023 Tony Alexander says buy now
21 Apr 2023 Buy now Alexander tells advisers
20 Apr 2023 Interest rate fears dampen NZ sharemarket
20 Apr 2023 Impact fund startup gets shot at ‘Nobel Prize’ of environmentalism
20 Apr 2023 Inflation surprise; but rate cuts unlikely.
20 Apr 2023 Worst of house price drops could be at an end
20 Apr 2023 Bank profits level out – mortgage arrears rise
19 Apr 2023 Sharemarket has another late surge into positive territory
19 Apr 2023 Sharesies savings on the way
19 Apr 2023 Measuring returns – our industry has it wrong
19 Apr 2023 Mortgage payments rearranged as living costs spiral
19 Apr 2023 Mainstreaming impact investment project underway
18 Apr 2023 ASB is predicting the country’s economy will tip deeper into recession
18 Apr 2023 NZ sharemarket tumbles half a percent
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