GoodReturns
Archive - 2016
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May 2016
20 May 2016 Stubbs looking to launch new KiwiSaver offer
20 May 2016 Migration steady, but slowing
20 May 2016 Nikko reports strong retail growth
20 May 2016 Making the letting process easier
20 May 2016 ASB plays the long game
20 May 2016 China more tempting but time not yet right
19 May 2016 FMA: No emails please
19 May 2016 Auckland’s pain is shared - ASB
19 May 2016 AMP makes advice appointments
19 May 2016 ASB appoints new boss for wealth and insurance
19 May 2016 FSC launches income protection information
19 May 2016 Density real key to growth
19 May 2016 Warning: No room for complacency on digital disruption
18 May 2016 Get rid of Auckland’s urban boundary - Labour
18 May 2016 Meth testing standard in the works
18 May 2016 Investor confidence drops
18 May 2016 SBS betters its big bank peers
18 May 2016 Reserve Bank calls for lower commissions
18 May 2016 SuiteBox woos Kiwi advisers
17 May 2016 New CEO for Mortgage Express
17 May 2016 Big lift in KiwiSaver withdrawals
17 May 2016 Expect more lending restrictions soon
17 May 2016 Property Council: Debt to income ratio won't solve shortage
17 May 2016 Autopilot mode helps KiwiSaver members to better returns
17 May 2016 Anti-commission argument not winning: Ballantyne
16 May 2016 Harmoney appoints chair
16 May 2016 Pressure on Council ramps up
16 May 2016 Former bank board member joins GFS
16 May 2016 Turning up the heat
16 May 2016 New norm for two-year specials
16 May 2016 Roboadvice may be a solution to fee pressure
13 May 2016 FMA wins deregistration fight
13 May 2016 Market pressures could prompt commission change: Report
13 May 2016 High rise boom times
13 May 2016 Rates are back below 4%
13 May 2016 Tax changes may hit trans-Tasman transfers
13 May 2016 Some advisers earning more than $750k per year
12 May 2016 Final call in MTF case
12 May 2016 SFO tells clients to question advisers
12 May 2016 Harmoney increases fees for investors
12 May 2016 Defying the winter chill
12 May 2016 LVR measures looming
12 May 2016 Risks in new RBNZ proposal
12 May 2016 Accountants, lawyers to join advisers in AML
11 May 2016 RBNZ having second thoughts
11 May 2016 Halo effect growing - REINZ
11 May 2016 LVR measures on the horizon
11 May 2016 Housing market still RBNZ's headache
11 May 2016 RBNZ still thinking about ways to slow the housing market
11 May 2016 Halo of confidence
11 May 2016 Nick Tuffley's interest rate update
11 May 2016 Support for wholesale change, except from banks
10 May 2016 Super Fund sells down
10 May 2016 Foreign buyer numbers revealed
10 May 2016 Comparing OCR and floating rates no longer relevant
10 May 2016 Calmer waters for Coromandel holiday rentals
10 May 2016 Investors under fire
10 May 2016 Stewart Group joins Plus4
10 May 2016 Terminal illness cover launched
10 May 2016 Pressure goes on adviser fees
09 May 2016 Wellington Airport issues bonds
09 May 2016 Investors under fire
09 May 2016 TSB's new rate; BNZ's broker business revealed
09 May 2016 FSCL members split on court bid
09 May 2016 ANZ committed to wealth
09 May 2016 Triplejump drops staff
07 May 2016 Competition Takes Many Forms
06 May 2016 BNZ reveals how much broker business it has banked
06 May 2016 ASB encourages borrowers to go long
06 May 2016 FSCL mum on court bid funding
06 May 2016 Strategising for a changing population
05 May 2016 Ensure full disclosure - ComCom
05 May 2016 BNZ's profits down
05 May 2016 Healthy Homes Bill progresses
05 May 2016 ANZ holds its rating despite profit fall
05 May 2016 Industry told: Make Kiwis care
04 May 2016 Kepa seeks new members
04 May 2016 Values rising around NZ
04 May 2016 April sees SuperCity at slower pace
04 May 2016 The 'how' and 'why' of negative interest rates
04 May 2016 ANZ talks results; CU Baywide plays three of a kind
04 May 2016 Advisers' pre-emptive strike
04 May 2016 Sovereign changes underwriting process
03 May 2016 ANZ happy with broker remuneration model
03 May 2016 Forget demand – address supply
03 May 2016 ANZ profits drop in half year results
03 May 2016 Obituary - Paul Murphy
03 May 2016 FMA slaps Craigs over AML failures
03 May 2016 ASB: The only way is up
03 May 2016 How much should advisers have known about tax on transfers?
03 May 2016 Onwards and upwards
02 May 2016 Minimum rental standards push reignites
02 May 2016 Westpac hits record result in NZ
02 May 2016 Consumers might favour algorithms over fallible humans
02 May 2016 Top of the South: Sunny side up
01 May 2016 Only sub 4% home loan due to end
April 2016
29 Apr 2016 New building trend easing
29 Apr 2016 OCR cuts imminent
29 Apr 2016 Chief operating officer appointed for NZHL
29 Apr 2016 Plan for Uber of financial advice
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