GoodReturns
Archive - 2018
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May 2018
21 May 2018 Schemes query disclosure requirement
21 May 2018 Severn: Change focus of incentives
18 May 2018 PM Capital receives award from researcher
18 May 2018 Harbour adds to fixed interest team
18 May 2018 Nikko and Harbour hover up more gongs; Fisher and Savage rewarded
18 May 2018 Brokers' Budget Guide; Is ANZ trying to replace brokers with coaches?
18 May 2018 Landlords left in cold on insulation
18 May 2018 ANZ talks Home Loan Coaches
18 May 2018 KiwiSaver rules for MPs - even if their scheme doesn't exist any more
17 May 2018 Budgeting to build
17 May 2018 Ballantyne: Partners keen for any purchase opportunity
17 May 2018 Budgeting to build
17 May 2018 Soft commission schemes untenable under new regime: FMA
16 May 2018 Soft dollar commissions: What’s the problem?
16 May 2018 Advisers, not consumers benefit from soft commissions: FMA
16 May 2018 Property investing popular with MPs
16 May 2018 Disclosure consultation and commission
16 May 2018 Dale-Jones: Financial advice different to other professions
15 May 2018 Read takes GM role
15 May 2018 Read takes GM role
15 May 2018 AFA population shrinks
15 May 2018 FMA takes FSPR action again
15 May 2018 Gough becomes Head of Kepa Home Loans
15 May 2018 Auckland rent rise shock
15 May 2018 Kepa appoints new home loans boss
15 May 2018 FADC prepares for another case
15 May 2018 Older KiwiSaver members prompted to switch
14 May 2018 RESIMAC unveils self-employed specials
14 May 2018 Kepa ready for regulatory changes
14 May 2018 Milford takes Consumer award
14 May 2018 Sowerby moves on
14 May 2018 SBS cuts; Cairns and Lockie back in the market
14 May 2018 Taking control of his future
14 May 2018 Financial Advice NZ appointment rallies support
14 May 2018 General Finance founders target funding gap with EMortgage
11 May 2018 Kiwi Wealth gets first robo green light
11 May 2018 Sales activity soft but stabilising
11 May 2018 RESIMAC makes cuts on big growth; Reviewing the new-look RBNZ
11 May 2018 RESIMAC cuts rates after 30% volume rise
11 May 2018 Working group signals changes
10 May 2018 First Financial Advice NZ CEO announced
10 May 2018 Applause for OCR call
10 May 2018 OCR Unchanged; What Orr said
10 May 2018 What Orr said in his first OCR announcement [+AUDIO]
10 May 2018 Education clause 'used too expansively'
10 May 2018 Opportunity for independent advisers to shine
09 May 2018 100,000 ANZ customers under-charged interest
09 May 2018 Plus4 extends its presence in Southland
09 May 2018 Speak up on negative gearing changes
09 May 2018 NZ’s two speed market
09 May 2018 The Co-Op bank makes further cuts; Westpac update
09 May 2018 Protect advisers, select committee told
08 May 2018 [OPINION] What is the future for AMP?
08 May 2018 AMP fallout continues
08 May 2018 Investors staying, not going
08 May 2018 New way to do overseas trips
08 May 2018 Complaint laid over 'independence' claim
08 May 2018 Mu: Exciting future for advisers
07 May 2018 Open banking opportunity for mortgage advisers
07 May 2018 New chairman for AMP
07 May 2018 Tiny house big investment
07 May 2018 What's likely to be in this week's OCR announcement
07 May 2018 SiFA: Drop competence standards for nominated reps
04 May 2018 What the FMA said to banks
04 May 2018 All eyes on Orr in lead-up to OCR call
04 May 2018 AMP denies criminal offending
04 May 2018 Advisers: Extra benefits for clients welcome
04 May 2018 BNZ on mortgage advisers; Westpac cuts
04 May 2018 BNZ grows advisers flows but keeps them low
04 May 2018 Keep on top of maintenance issues
04 May 2018 Bank boss backs AFAs and says no to Royal Commission
04 May 2018 Stubbs, Bolton in charity drop
03 May 2018 More choice for Auckland buyers
03 May 2018 The importance of advisers to ANZ
03 May 2018 Advisers account for bigger share of ANZ's home loans
03 May 2018 Heathcote adds a new Key Account Exec
03 May 2018 Call for KiwiSaver tax changes
02 May 2018 NZBA rejects Australia comparisons and pledges reforms
02 May 2018 CWG proposals doom independent advisers: Association
02 May 2018 ANZ's Hisco says no problems in NZ; FMA says prove it
02 May 2018 FMA: Show how you're different
02 May 2018 Values moderation ahead
02 May 2018 Enquiry not needed in NZ: ANZ boss
02 May 2018 [OBITUARY] Farewell for the man with the 'formidable brain'
01 May 2018 Tough quarter for KiwiSaver
01 May 2018 Lightening landlords’ workloads
01 May 2018 Investment horizon: The changing face of the New Zealand credit market
01 May 2018 Consents up but trend slowing
01 May 2018 ANZ posts half year cash profit of $941 mill
01 May 2018 AIA first insurer to offer Airpoints
01 May 2018 One up, one down at ANZ; Plus big profit jump
01 May 2018 Super City listings decline
April 2018
30 Apr 2018 Mortgage borrowing rise to be “short-lived”: Westpac
30 Apr 2018 Trustees Executors appoint new CEO
30 Apr 2018 Lifetime and Camelot join together
30 Apr 2018 ANZ looks to Blockchain as the single source of truth
30 Apr 2018 More heads roll at AMP
30 Apr 2018 A floating rate rises; New mortgage cover
30 Apr 2018 Deals in Christchurch City Centre
30 Apr 2018 New flavour for PIE
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.
8 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.
10 hours 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.
2 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…
2 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".
2 days ago Paul Flood