GoodReturns
Archive - 2015
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March 2015
31 Mar 2015 Gross' departure hits PIMCO
31 Mar 2015 Cortesi: Many want association merger
31 Mar 2015 Partners Life enhancements
31 Mar 2015 Decline in residential building consents
31 Mar 2015 Investors think Auckland property is overvalued
30 Mar 2015 New business model needed: FSC
30 Mar 2015 Westpac prepares to offer Airpoints with home loans
30 Mar 2015 Westpac cuts and prepares for takeoff
30 Mar 2015 ETFs tipped to help asset allocation
27 Mar 2015 Getting to know...Clayton Coplestone
27 Mar 2015 Property prices impact on S&P’s assessment of NZ banking sector
27 Mar 2015 Property prices impact on S&P’s assessment of NZ banking sector
27 Mar 2015 NZX launches options
26 Mar 2015 Website list removed
26 Mar 2015 Watch out for the newly promoted income protection client
26 Mar 2015 What is the value of CPD?
25 Mar 2015 Four and five year rate cuts
25 Mar 2015 FMA takes AML action
25 Mar 2015 Warning for landlords in huge Harcourts fine
24 Mar 2015 Nikko granted MIS licence
24 Mar 2015 No choice but to get a DIMs licence: Regan
23 Mar 2015 Level 5 course changes: Cost increases
23 Mar 2015 Trauma problematic, Fidelity boss says
23 Mar 2015 Westpac reduces specials
22 Mar 2015 Partners chief actuary retires
20 Mar 2015 Regional Review - West Auckland
20 Mar 2015 Getting to Know...Anthony Edmonds
20 Mar 2015 BNZ GlobalPlus loses airpoints
20 Mar 2015 Salt not maxed out
20 Mar 2015 Auckland’s landlord friendly market situation to continue
19 Mar 2015 BNZ's home loan airpoints scheme grounded
19 Mar 2015 AMP hands equities to Salt
19 Mar 2015 Good times for landlords
19 Mar 2015 Unfair terms rules kick in
19 Mar 2015 Small providers offered DIMS wing
19 Mar 2015 Bankruptcy case may prompt stocktake
19 Mar 2015 Rental market favours landlords
18 Mar 2015 Kepa appoints National Business Development manager
18 Mar 2015 RESIMAC reduces rates
18 Mar 2015 Sovereign: More support for advisers
18 Mar 2015 How small is a small DIMS business?
17 Mar 2015 FMA's Campbell moves on
17 Mar 2015 Responsible lending code revealed
17 Mar 2015 Crowded KiwiSaver market sparks concern
16 Mar 2015 Elevation Fund lowered
16 Mar 2015 Hassan welcomes new director
16 Mar 2015 Quiet start to week, in more ways than one
16 Mar 2015 AML duplication causes concern
13 Mar 2015 Classic end for BNZ
13 Mar 2015 Getting to know...Fred Dodds
13 Mar 2015 What to worry about
13 Mar 2015 Tell MBIE what you think of regulation
12 Mar 2015 Asteron maintains rating
12 Mar 2015 OCR unchanged – but housing market remains hot topic
12 Mar 2015 FMA issues AML warning
12 Mar 2015 What the Reserve Bank said
12 Mar 2015 And the Governor has spoken
12 Mar 2015 Smaller players need to stand out
12 Mar 2015 Programme fosters new advice talent
12 Mar 2015 Pension costs may not be unsustainable: Report
12 Mar 2015 Open letter from John Lenihan and Jane Greensmith
12 Mar 2015 Coromandel holiday home rentals could be “taxed”
11 Mar 2015 Trustees Executors gets new platform
11 Mar 2015 A change in the fixed interest soundtrack
11 Mar 2015 SBS takes stake in financial planning and KiwiSaver business
11 Mar 2015 Sovereign boss gets gong
11 Mar 2015 One little change today
11 Mar 2015 Clients place most value on meeting goals: IOOF
11 Mar 2015 Is increased housing density the answer to Auckland’s supply issue?
10 Mar 2015 Research houses agree on something - a winner
10 Mar 2015 Lowest rate on market aims to win borrowers’ hearts
10 Mar 2015 Complaint about 'ambush marketing'
10 Mar 2015 Claim lawyers, accountants getting unfair deal
10 Mar 2015 New low set by a bank
09 Mar 2015 No surprises expected in OCR this week, but plenty to look for
09 Mar 2015 Bank lending up, but profits down
09 Mar 2015 FMA outlines supervision approach
09 Mar 2015 Clients complain about adviser fees
08 Mar 2015 KiwiSaver gender gap widens
06 Mar 2015 AML warning
06 Mar 2015 BNZ moves three-year rate
06 Mar 2015 Advisers in dark about AML
06 Mar 2015 Call to reveal industry statistics
05 Mar 2015 Reserve Bank targets investors
05 Mar 2015 Reserve Bank comes up with new definition for property investors
05 Mar 2015 There is such a thing as a good performance fee
05 Mar 2015 One bank's having an identity crisis
05 Mar 2015 Industry leader calls for one class of adviser
05 Mar 2015 RBNZ targets investors
05 Mar 2015 Supply pressures drive building boom
04 Mar 2015 More Kiwis have income protection
04 Mar 2015 AMP hands out awards
04 Mar 2015 The ECB’s Gamble
04 Mar 2015 The truth about house prices
04 Mar 2015 Review terms get cautious welcome
04 Mar 2015 Good response to changes: AIA
04 Mar 2015 Newpark hires training manager
04 Mar 2015 Listings ramp up: Barfoot
03 Mar 2015 Game on for financial advisers
03 Mar 2015 FAA review begins
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