GoodReturns
Archive - 2010
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May 2010
10 May 2010 Asteron makes three appointments to help tackle regulation
10 May 2010 Competition tight for 12-month terms
10 May 2010 Q&A: Sam Stubbs talks KiwiSaver Trends
10 May 2010 Commerce Committee Chair has misgivings about QFE extension
10 May 2010 Property investors procrastinate ahead of Budget: QV
10 May 2010 QV main urban areas commentary: April 2010
10 May 2010 Property round-up
09 May 2010 The news gets worse for Nathans Finance debenture holders
07 May 2010 Waiting for the appointment
07 May 2010 Weekly wrap: Pioneer farwelled
07 May 2010 Business Update 2010: Free FSPR seminars from Companies Office
07 May 2010 [PAA] Education Roadshow
07 May 2010 Role changes at Sovereign
07 May 2010 Sovereign appoints adviser distribution manager
07 May 2010 Mike Pero Mortgages joins FSCL
07 May 2010 Labour growth results in strong consensus for June hike
07 May 2010 Optimism and house prices on the wane
06 May 2010 Prospects of June rate rise increase
06 May 2010 S&P tells South Canterbury how it can improve its rating
06 May 2010 Power plugs holes in financial adviser legislation
06 May 2010 Procrastinate while one has the chance
06 May 2010 Procrastinate while you have the chance
06 May 2010 Bollard: taking the foot off the accelerator
06 May 2010 Open Polytech puts off assessing ‘Standard C’ for now
06 May 2010 [PAA] Education Roadshow
06 May 2010 [PAA] Education Roadshow
06 May 2010 Haak takes up new Sovereign position
06 May 2010 Big shift to floating mortgages as rate hikes draw near
05 May 2010 AMP says conventional life policies being phased out
05 May 2010 Funds flow into boutiques picks up
05 May 2010 Some do and shouldn’t, some should but don’t
05 May 2010 Australia's central bank raises key rate to 4.5%, widening gap with NZ
05 May 2010 ISI fills new communications role
05 May 2010 Auckland house sales dip
05 May 2010 [PAA] Education Roadshow
05 May 2010 IFA fights for CFP rights
04 May 2010 Commerce Commission assesses First Step trusts
04 May 2010 RBA makes sixth rate hike
04 May 2010 Fidelity Life founder Gordon Watson passes away
04 May 2010 Business Update 2010: Free FSPR seminars from Companies Office
04 May 2010 Conditions ripe for rent rises
03 May 2010 No silver lining for Bridgecorp investors
03 May 2010 Floating your home loan is the way to go.
03 May 2010 First dispute resolution scheme approved
03 May 2010 Rates Round Up
03 May 2010 Investors not out of the woods yet
03 May 2010 Procrastinate while one has the chance!
03 May 2010 SCF sweetens rate for current investors
03 May 2010 News round-up
01 May 2010 Does price matter?
April 2010
30 Apr 2010 Sovereign to shield customers from tax increases
30 Apr 2010 The Investment Store loses a BDM and appoints sales support.
30 Apr 2010 Dorchester creates a new role
30 Apr 2010 A sad tale of positive cash flow property
30 Apr 2010 Building consents fall in March
30 Apr 2010 ISI members: the devil is in the detail
29 Apr 2010 Perpetual sends St Laurence to the receivers, slaps down Podmore
29 Apr 2010 Asteron KiwiSaver shuts, recommends Grosvenor
29 Apr 2010 Bollard gives himself "wiggle room" on first rate hike
29 Apr 2010 OCR held plus first mortagage rate change in two weeks
29 Apr 2010 Interest rate hike now in sight
29 Apr 2010 OCR April 2010
29 Apr 2010 Commissions are viable and fair: PAA
29 Apr 2010 Market continues trucking down
28 Apr 2010 Advisers given more time to comply with new regs
28 Apr 2010 St Laurence gives investors ultimatum
28 Apr 2010 Newpark appoints a new BDM familiar with regulation
28 Apr 2010 Guardian Trust appoints new head of product management
28 Apr 2010 Ban on commissions flawed
28 Apr 2010 Agent found guilty over misleading commission costs
27 Apr 2010 AIA appoints Head of Distribution and Marketing
27 Apr 2010 Deposit war shows no sign of abating: KPMG
27 Apr 2010 Where exactly is the middle of 2010?
27 Apr 2010 Power: NZ will not ban commissions
26 Apr 2010 It’s official – commissions to be banned
26 Apr 2010 Mutual Finance changes hands as Bublitz pops up again
26 Apr 2010 Overhaul of Financial Advice
26 Apr 2010 Bollard to hold OCR amid faltering retail spending and housing market
26 Apr 2010 Wrightson tinkers with rates across the board, ASB targets short money
26 Apr 2010 Business Update 2010: Free FSPR seminars from Companies Office
26 Apr 2010 News round-up
26 Apr 2010 Property round-up
25 Apr 2010 Rates round-up
23 Apr 2010 Weekly wrap
23 Apr 2010 Low long term fixed rates down the track
23 Apr 2010 IRD shifts approach on GST applied to land
23 Apr 2010 ISI releases policy replacement guidelines
23 Apr 2010 NAB won't take no for an answer
23 Apr 2010 Newton Ross branches out to Tauranga
23 Apr 2010 Term deposits steep yield curve
23 Apr 2010 Russell announces new head of investor services in New Zealand
23 Apr 2010 Time to fix approaching
23 Apr 2010 Bollard to hold OCR unchanged
23 Apr 2010 Pros and cons of moratoria espoused to select committee
23 Apr 2010 Proof is in the pudding for Liontamer capital-protected funds
22 Apr 2010 South Canterbury reaping '$1 million a week' from distressed assets
22 Apr 2010 Allied Farmers successfully concludes property sales
22 Apr 2010 Glass plans to have NZ’s biggest investment team at Devon Funds
22 Apr 2010 The Investment Store Roadshow
22 Apr 2010 Rents set to rise as demand increases
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.
23 hours 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