GoodReturns
Archive - 2021
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June 2021
04 Jun 2021 SBS operating surplus jumps, targets reverse mortgage growth
04 Jun 2021 Mindful Money awards reach capacity
04 Jun 2021 Fidelity Life steps up for Canterbury farmers
04 Jun 2021 Lockton to open Auckland office
04 Jun 2021 PI insurance costs soar
04 Jun 2021 PI insurance costs soar
04 Jun 2021 How to finance the climate change transition
03 Jun 2021 NZ shares tread water ahead of US jobs report
03 Jun 2021 Investor demand sees Kernel launch range of sustainable funds
03 Jun 2021 Fresh new look for RBNZ
03 Jun 2021 AIA NZ supports Relief Run for India
03 Jun 2021 Market finally shows signs of cooling
03 Jun 2021 Market moves; new hire at Mortgage Express
03 Jun 2021 Wellington hire for Mortgage Express
02 Jun 2021 Kiwi dollar unwinds RBNZ rally
02 Jun 2021 Guardians of NZ Super add to leadership team
02 Jun 2021 RBNZ balance sheet almost triples in size
02 Jun 2021 Co-Op Bank CEO hits the road
02 Jun 2021 House price growth slows; Co-operative Bank boss to depart
02 Jun 2021 CoreLogic report shows slowing house price inflation
02 Jun 2021 Advisers ‘critical gatekeepers’ for responsible investment: RIAA
01 Jun 2021 NZ shares climb as dairy stocks float amid flooding
01 Jun 2021 Small businesses seek advice
01 Jun 2021 Co-Op Bank CEO hits the road
01 Jun 2021 Support for adviser wellbeing is essential - Tremethick
01 Jun 2021 nib Foundation launches new charity grant scheme
01 Jun 2021 Robo-advice KiwiSaver platform links up with NZFSG
01 Jun 2021 Robo-advice KiwiSaver links up with advisers
01 Jun 2021 Caveat on house building: Supplies and labour shortage
01 Jun 2021 Almost half of NZ's advisers face deregistration
May 2021
31 May 2021 NZ shares break losing streak
31 May 2021 Reserve Bank releases reports into illegal data breach
31 May 2021 Adviser business values hold steady
31 May 2021 Get ready for housing upheaval
31 May 2021 Half of advisers face de-registration; Geoff Allen joins FMT
31 May 2021 Half of advisers face deregistration
31 May 2021 Geoff Allen joins First Mortgage Trust
31 May 2021 Roboadvice scheme calls for financial advisers
28 May 2021 NZX 50 has fallen 8.5% this year
28 May 2021 Pathfinder and ACC invest in All Black's mental health initiative
28 May 2021 Tower Insurance partnership push hits full pace
28 May 2021 Fixing short terms the cheapest option for borrowers
28 May 2021 Fixing short terms the cheapest option for borrowers
28 May 2021 Finalists announced for the first Mindful Money Awards
27 May 2021 Investors knock $1b off F&P Healthcare valuation
27 May 2021 ASA asks for industry input as it reviews financial advertising rules
27 May 2021 Reserve Bank takes High Court action against TSB
27 May 2021 Keeping up - but not with the Kardashians
27 May 2021 OCR projected to rise next year; mortgage lending falls in April
27 May 2021 Mortgage lending falls in April
27 May 2021 Adviser burnout – what to do if it hits you
26 May 2021 Markets react to RBNZ OCR announcement
26 May 2021 OCR reaction: Rates set to rise from 2022
26 May 2021 Latest OCR decision revealed
26 May 2021 Long-term rates an attractive strategy
26 May 2021 Long-term rates an attractive strategy
26 May 2021 Tenancy jurisdiction spat: No comfort from tribunal
26 May 2021 John Kirwan's mental health app gets heavyweight support
25 May 2021 NZ shares fall with F&P Healthcare
25 May 2021 KiwiSaver: Young Kiwis in the wrong fund
25 May 2021 Making money the easy way
25 May 2021 How CoFi bill will affect commission
25 May 2021 CoFI Bill: How will it affect commission?
24 May 2021 Ryman Healthcare drags NZ shares lower
24 May 2021 Auckland rents keep lurching up
24 May 2021 Health and wellness top of mind at AIA adviser summit
24 May 2021 More policing of landlords ‘total waste of money’
24 May 2021 OCR decision: all eyes on inflation comments; SBS rate increases
24 May 2021 OCR Preview Survey: all eyes on inflation comments
22 May 2021 Former van Eyk boss faces four dishonesty charges
21 May 2021 a2 Milk Company comes roaring back
21 May 2021 Melissa Cantell - more than meets the eye
21 May 2021 What the Budget means for housing
21 May 2021 FSPR deadline causes panic
21 May 2021 New venture capital fund bets big on climate recovery
20 May 2021 Labour's big budget boosts sharemarket
20 May 2021 Govt reckons it's tamed the housing market
20 May 2021 FMA appoints general counsel
20 May 2021 Govt reckons it's tamed house price growth
20 May 2021 More money to police property rental laws
20 May 2021 FSPR deadline causes panic
20 May 2021 Roaring industrial market heats up
20 May 2021 MBIE defends KiwiSaver shakeup
19 May 2021 Earnings fail to excite the market
19 May 2021 Dealer group to pay commissions direct to members
19 May 2021 DTIs rise sharply
19 May 2021 DTIs rising sharply
19 May 2021 Let's give TPD a second look
19 May 2021 TAP into everything you need for your FAP
19 May 2021 KiwiSaver: Concern over fee-focused default funds
18 May 2021 NZ shares rise as investors bet on earnings results
18 May 2021 Not-for-profit insurer Accuro celebrates 50 years in business
18 May 2021 APN Property Group asks for approval for buy-out by Dexus
18 May 2021 Australian sustainable fund arrives in NZ
18 May 2021 Top tips for riding out the tax change storm
18 May 2021 SFO fraud charges could be the largest in NZ history
18 May 2021 Twists and turns in housing market
18 May 2021 Prospa loan book soars; Astute hires BDM
18 May 2021 Strong growth in lending continues as Prospa supports SME recovery
18 May 2021 Investors and traders both want good returns but are polar opposites
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