GoodReturns
Archive - 2022
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April 2022
11 Apr 2022 Mint rolled into new group; former ANZ boss joins the team
08 Apr 2022 Two small shares add some market drama
08 Apr 2022 Select Wealth Management appoints new BDM
08 Apr 2022 HER grows and faces change
08 Apr 2022 Reverse mortgages set new record
08 Apr 2022 Compulsory onsite inspections: scope of Reserve Bank’s power remains unclear
07 Apr 2022 Southern Cross launches new online tool for confirming procedure cover
07 Apr 2022 More ethical funds land on platform
07 Apr 2022 More credit woes
07 Apr 2022 More credit woes says Centrix
07 Apr 2022 Building consent values skyrocket
07 Apr 2022 Property prices and listings showing resilience
07 Apr 2022 Market transferring in buyers’ favour
07 Apr 2022 Cash will play bigger part in housing market
07 Apr 2022 Is Asteron for sale?
07 Apr 2022 Voluntary savings continue in KiwiSaver – ASB
06 Apr 2022 Air NZ shares and rights slip
06 Apr 2022 CCCFA changes finally revealed; Compliance nightmare
06 Apr 2022 Changes to CCCFA finally revealed
06 Apr 2022 Compliance too much for 44 year veteran; Rates rise: Knock, knock, knocking on 7%
06 Apr 2022 FMA to host forums on COFI implementation
05 Apr 2022 Musk’s Twitter buy boosts local tech stocks; Air NZ takes off
05 Apr 2022 An active investment managers lockdown tool kit
05 Apr 2022 How to design and fund a sucacessful health system: an expert’s view
05 Apr 2022 Kaplan looks to grow services to advisers
04 Apr 2022 NZ shares fall as Air NZ goes ex-rights
04 Apr 2022 Ethical and Impact Investment Awards are back again
04 Apr 2022 Northland Mortgage veteran considers quitting over 'compliance nightmare'
04 Apr 2022 Director Support Programme
04 Apr 2022 Former Mint director joins Public Trust
04 Apr 2022 “Finfluencers” and the law – which could include your social media posts
04 Apr 2022 Health experts predict more collaboration between public and private sectors, and ACC
04 Apr 2022 Changes styming tax deductibility become law
02 Apr 2022 Drug using tenant cops damages awards twice in one year
01 Apr 2022 Russia ends globalisation: Blackrock
01 Apr 2022 Air NZ retains altitude as investor buy into raise
01 Apr 2022 DIY landlords to escape regulations noose
01 Apr 2022 Investors back in the market with bigger mortgages
01 Apr 2022 Complaints against banks soar; Code committee not legal
01 Apr 2022 Bank complaints rise
01 Apr 2022 Rewarding the value hunters
01 Apr 2022 Missing members: concerns raised over legality of code committee
March 2022
31 Mar 2022 NZ shares steady despite Air NZ's descent
31 Mar 2022 Ignite lights on new leadership
31 Mar 2022 AIA boss back
31 Mar 2022 Financial advice industry gets hard word on cyber security
30 Mar 2022 NZ shares rally under shadow of Air NZ capital raising
30 Mar 2022 Resolution Life CEO moves on
30 Mar 2022 Loan volumes fall
30 Mar 2022 Another month of falling loans – Centrix
29 Mar 2022 F&P Healthcare breaks five day market decline
29 Mar 2022 ANZ improves its governance: RBNZ
29 Mar 2022 Two financial planning groups merge
28 Mar 2022 F&P Healthcare continues to weigh on NZX50
28 Mar 2022 Net outflow of migrants could affect mortgage market
28 Mar 2022 How to deal with the regulator in times of tougher enforcement
25 Mar 2022 NZ shares finish week down 1%
25 Mar 2022 MBIE gives timeline for CCCFA reforms
25 Mar 2022 Even in the toughest of markets earnings growth is rewarded
25 Mar 2022 [OPINION] Who will buy KiwiWealth? And why it matters
24 Mar 2022 F&P Healthcare falls for second day
24 Mar 2022 Meet a Young Gun; What's happening with refixes at the big bank?
24 Mar 2022 High valuations and rising interest rates = Volatility
23 Mar 2022 F&P Healthcare sends NZX 50 lower as covid restrictions lift
23 Mar 2022 [Obituary] Michael Garner
23 Mar 2022 Home loan rates are rising: What's the best lending strategy
23 Mar 2022 Earning power should stop huge house price falls
23 Mar 2022 Drugs testing not enough to evict tenant
23 Mar 2022 Incorporate ESG: a legal checklist
23 Mar 2022 Mercer adds head of sustainability
22 Mar 2022 Accuro removes time limit on claims
22 Mar 2022 Shares rise as bond yields surge
22 Mar 2022 Govt's proposed income insurance scheme may hurt insurers
22 Mar 2022 Kiwis need better financial advice, says new FMA boss
22 Mar 2022 ANZ appoints head of RI
21 Mar 2022 Magellan co-founder Hamish Douglass resigns
21 Mar 2022 NZ shares flat as market stabilise
21 Mar 2022 Heartland pledges speedy mortgage processing
21 Mar 2022 Partners Life gets new CFO
20 Mar 2022 AMP Capital to disappear this week
19 Mar 2022 How to work out a good property investment
18 Mar 2022 Pushpay leads NZ shares higher
18 Mar 2022 Highly experience director takes over Milford chair; TEA gets HR man
18 Mar 2022 ASB spent all its cheap RBNZ money; Kan turns one
18 Mar 2022 ASB turns off the tap on new home build
18 Mar 2022 FMA didn't disclose Booster conflict
18 Mar 2022 Sellers hold on to price expectations as FOOP rears its head
18 Mar 2022 Tweaking CCCFA changes won’t rescue housing market from price falls
18 Mar 2022 Don’t worry about prices - buying opportunities improving fast
18 Mar 2022 FMA puts finishing touches on draft conduct guidelines
18 Mar 2022 Kiwi Adviser Network turns one
17 Mar 2022 Markets buoyed by Russia/Ukraine peace talks
17 Mar 2022 Strong economic rebound in December quarter – Stats NZ
17 Mar 2022 CCCFA may be changing, but not quickly; BNZ ups rates
17 Mar 2022 Advisers told full licencing will become more streamlined
17 Mar 2022 Brightline traps remain
16 Mar 2022 NZ shares gain on open border and cheaper oil
16 Mar 2022 Free mental health service continued for three months
16 Mar 2022 Partners Life medical premiums set to go up 12%
16 Mar 2022 Financial Advice veteran retires with warning note on new regulations
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".
4 days ago Paul Flood