GoodReturns
Archive - 2017
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April 2017
13 Apr 2017 Prices, sales up – driven by high end sales
13 Apr 2017 FMA appoints enforcement head
13 Apr 2017 Lower prices mean budget squeeze
13 Apr 2017 Reigns handed over at Westpac – again
13 Apr 2017 Getting to Know: Rod Severn
13 Apr 2017 Thursday news in brief
13 Apr 2017 Platforms vie for adviser FUM
12 Apr 2017 Build more bloody houses - Little
12 Apr 2017 Broker concerns referred to FMA
12 Apr 2017 Interest-only loans under the spotlight
12 Apr 2017 Call for crackdown on tax disclosure requirements
11 Apr 2017 FMA asks: How should KiwiSaver fees be calculated?
11 Apr 2017 Interest-only loans come under the spotlight
11 Apr 2017 Changing times for interest rate setting
11 Apr 2017 Don't look to new grads to boost industry
10 Apr 2017 Hunter Hall Global Value fund trading again
10 Apr 2017 Kiwibank chairman stands down
10 Apr 2017 New CEO for NZX
10 Apr 2017 Final price fixing defendants get $1.5m fine
10 Apr 2017 Rate rises not prompting action
10 Apr 2017 Stop tarring investors with speculator brush
10 Apr 2017 Unlocking the gold in your client base…
10 Apr 2017 Major changes for Reserve Bank?
10 Apr 2017 Landlords on notice - MBIE
10 Apr 2017 Beware a 2019 recession
10 Apr 2017 NZ’s hottest suburbs: highest yield locations exposed
10 Apr 2017 Financial Advice plan to be revealed next month
10 Apr 2017 Shareholders chip in
09 Apr 2017 Accuro launches kids policy
09 Apr 2017 FSC makes appointments
07 Apr 2017 Shortfall to get worse before it gets better
07 Apr 2017 Are Kiwi firms blinded by fintech start-ups?
07 Apr 2017 Surprise, surprise. Rates fall
07 Apr 2017 Getting to Know: David Whyte
06 Apr 2017 Auckland no longer least affordable
06 Apr 2017 New chair and deputy for Accuro
06 Apr 2017 Lending growth will slow – S&P
06 Apr 2017 The mortgage rate creep continues
06 Apr 2017 Ready for Bretirement?
06 Apr 2017 Spotlight on emerging tech and financial markets
06 Apr 2017 Apartment attraction on the rise
06 Apr 2017 Thursday news in brief
06 Apr 2017 Reserve Bank reviews insurance rules
06 Apr 2017 Advisers can work with many entities: MBIE
05 Apr 2017 Auckland market different now – B&T
05 Apr 2017 Shallow LVR effect likely - QV
05 Apr 2017 Advice firms give up on pursuing restraint of trade cases through court
05 Apr 2017 Research shows benefit of advice
05 Apr 2017 Milford Asset Management gets new advice head
04 Apr 2017 AMP Capital launches fund with focus on absolute return
04 Apr 2017 Challenging times for credit unions
04 Apr 2017 Bubble risk for halo regions
04 Apr 2017 Rate hikes continue to trickle through
04 Apr 2017 Mortgage Express, Q Advisor Group signal closer ties
04 Apr 2017 New role for Fidelity man
04 Apr 2017 PAA: Draft bill essentially 'demoting the AFAs'
04 Apr 2017 New Simplicity Investment Funds could save Kiwis $1/2 billion annually in fees
03 Apr 2017 Warminger appeals High Court ruling
03 Apr 2017 Tackle restrictions on development - report
03 Apr 2017 Investors' learned behaviour in need of revision?
03 Apr 2017 The Co-Op Bank now pricing loans on risk
03 Apr 2017 Dunedin experiencing growth
03 Apr 2017 Industry rallies to make its voice heard
03 Apr 2017 ANZ to refuse handwritten applications
01 Apr 2017 Auckland property listings jump up
March 2017
31 Mar 2017 Top 10 value adding renovation tips
31 Mar 2017 HSBC's turn today
31 Mar 2017 Risk based pricing for Co-op Bank personal loans
31 Mar 2017 ASIC review calls for commission overhaul
31 Mar 2017 Getting to Know: Michael Dowling
31 Mar 2017 Flat line in consents continues
30 Mar 2017 Eagerly awaited meth standard delayed
30 Mar 2017 New fire levy rates announced
30 Mar 2017 Thursday news in brief
30 Mar 2017 Synergy launches SRI portfolios
30 Mar 2017 Young women take up advice posts
29 Mar 2017 Market slowdown different this time
29 Mar 2017 Revamp planning system, end crisis
29 Mar 2017 SBS raises floating rate
29 Mar 2017 FARs - where's the accountability?
28 Mar 2017 AIA offers bolt-on cancer drug cover
28 Mar 2017 Investor confidence remains high across most of NZ
28 Mar 2017 Older people priced out of insurance
28 Mar 2017 No submission but Financial Advice NZ 'active' on new rules
27 Mar 2017 NZ Funds drops Wellington investment
27 Mar 2017 OCR predictions; Mortgage adviser survey
27 Mar 2017 Responsible Investing Part Two: implications for everyone in financial markets
27 Mar 2017 More AFAs and Govt eyeing ways to keep them
27 Mar 2017 New cash rules 'no big deal for advisers'
27 Mar 2017 McEwan gets top Massey honour
24 Mar 2017 Want to develop the new code?
24 Mar 2017 AMP offers zero fees
24 Mar 2017 Address Auckland infrastructure issues
24 Mar 2017 AIA appoints Golden Boots as global ambassador
24 Mar 2017 Tenant magnetism: top 10 tips
24 Mar 2017 What keeps mortgage advisers awake at night?
24 Mar 2017 Friday news in brief
24 Mar 2017 PIE Funds reopens soft-closed fund
24 Mar 2017 Getting to Know: Rosemary Hassan
23 Mar 2017 Law change won't redraw boundaries
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