GoodReturns
Archive - 2018
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June 2018
15 Jun 2018 Finance company survivor profits
15 Jun 2018 Guilty verdict for mortgage fraud trio
15 Jun 2018 Adviser hits out at commission disclosure proposals
15 Jun 2018 Broader disclosure needed for VIOs: SiFA
15 Jun 2018 Adviser hits out at commission disclosure proposals
14 Jun 2018 Asteron appoints Frecklington replacement
14 Jun 2018 ASB cuts and moves up the table; Kepa has new CEO
14 Jun 2018 Auckland market fall continues
14 Jun 2018 Kepa appoints chief executive
14 Jun 2018 McLachlan: Pie move 'mildly interesting'
13 Jun 2018 Housing affordability down in major cities
13 Jun 2018 Developers keen on KiwiBuild tender
13 Jun 2018 KiwiSaver must change, providers say
13 Jun 2018 Advisers welcome more detailed projections
12 Jun 2018 Advisers inundate CWG with submissions
12 Jun 2018 Auckland supply drive at risk
12 Jun 2018 Working group considers 161 submissions
12 Jun 2018 Solving Japan’s financial problems…and creating some for New Zealand
11 Jun 2018 KiwiSaver boosts first home market: ANZ
11 Jun 2018 Getting to grips with leases
11 Jun 2018 Partners Life unfazed by Mosaic loss
11 Jun 2018 Kiwibank moves rates; Others adjust servicing levels
11 Jun 2018 Questions of Conduct: when does good conduct become financial advice?
11 Jun 2018 PAA gets 'yes' vote, takes next step to wind-up
08 Jun 2018 ASB, Westpac tweak servicing tests
08 Jun 2018 Medical records no silver bullet for disclosure
08 Jun 2018 New Housing “super” Ministry coming
08 Jun 2018 DTIs will be looked at again
08 Jun 2018 KiwiSaver incentives 'don't help those who need it most'
08 Jun 2018 Higher meth test levels for REA
07 Jun 2018 Next phase of RBNZ review likely to assess DTIs
07 Jun 2018 Pie Funds cuts performance fees
07 Jun 2018 PM Capital poaches Platinum portfolio man
07 Jun 2018 Overseas buyer rise due to proposed ban
07 Jun 2018 Tackling meth uncertainty
07 Jun 2018 Why private health insurance is an investment, not a cost
07 Jun 2018 Fidelity Life: Advisers told us products must improve
07 Jun 2018 NZCU Baywide widens lending criteria
07 Jun 2018 NZCU Baywide to offer 95% mortgages
07 Jun 2018 Southern market values star
07 Jun 2018 Consultation fatigue hits advisers
06 Jun 2018 Trustees Executors makes key appointments
06 Jun 2018 Changes for RFAs nothing to worry about
06 Jun 2018 New build financing gap boosts Southern Cross
06 Jun 2018 Signs of life in sales rise
06 Jun 2018 HSBC launches 5th sub 4% home loan offer
06 Jun 2018 HSBC does it again
06 Jun 2018 Is more better, or just confusing?
06 Jun 2018 Vertical integration: Financial advice sector's weak link?
05 Jun 2018 Read joins adviser group
05 Jun 2018 Italy: A bigger threat than Brexit?
05 Jun 2018 Young investor success stories
05 Jun 2018 Simplicity drops investments
05 Jun 2018 PAA rules out legal funds for opposing members
01 Jun 2018 Spotlight on non-bank fees
01 Jun 2018 Supply pressure building
01 Jun 2018 Booster seeds new global bond fund
01 Jun 2018 Watch out for 'green-washing'
May 2018
31 May 2018 New name and look for JMIS
31 May 2018 Proceed with caution on meth
31 May 2018 Update on LVR restrictions; Commission not needed
31 May 2018 Disclose cost of advice, not commission: Financial Advice NZ
30 May 2018 Regulators: no "evidence" to warrant NZ banking commission
30 May 2018 Townhouse consents surge
30 May 2018 ANZ sells OnePath
30 May 2018 LVR easing not on cards
30 May 2018 Ministers meet regulators as banks, insurers asked for information
30 May 2018 PAA attempts holiday homes vote 2.0
29 May 2018 SBS grows lending book, but with less aggression
29 May 2018 Meth relief for landlords
29 May 2018 Rock steady performer
29 May 2018 General Finance to join stock market
29 May 2018 Associations hang back from Financial Advice NZ
28 May 2018 Bleak investor predictions premature
28 May 2018 Property Institute questions government housing policy
28 May 2018 Asbestos duties clarified
28 May 2018 Advisers 'should be next for regulator check'
25 May 2018 Investor mortgages creeping up
25 May 2018 Conservative attitude a bigger problem than fees: McLachlan
24 May 2018 Latest RBNZ figures reveal first time buyer boom
24 May 2018 Insurers next for regulatory scrutiny
24 May 2018 Royal Commission triggers letter to insurers from FMA and RBNZ
24 May 2018 Getting landlord cover right
24 May 2018 Dodds: Regulators 'attack on integrity'
23 May 2018 Jail for dodgy property consultant
23 May 2018 Regulate property managers - REINZ
23 May 2018 Daintree launches NZD option
23 May 2018 Minister 'encourages' providers to change soft commission structures
22 May 2018 Northland adviser launches next-gen chatbot
22 May 2018 Airbnb profits for landlord not tenant
22 May 2018 Law reform process asks: Are commissions bad?
22 May 2018 Soft rebound for price optimism
22 May 2018 Advisers follow Slater to new EDR
21 May 2018 Cressida Capital appoints new BDM
21 May 2018 Regional rents soar
21 May 2018 Migration hits two year low
21 May 2018 Kiwi Wealth launches wholesale offer
21 May 2018 Health insurance gets boost from workplace schemes
21 May 2018 Pinning down value
21 May 2018 Regional rents soar
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".
4 days ago Paul Flood