GoodReturns
Archive - 2019
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May 2019
29 May 2019 Asset allocation: Modern Portfolio Theory v Behavioural Finance
29 May 2019 LVR restrictions to remain at current level: RBNZ
29 May 2019 Riding out the cycle
29 May 2019 EDRs want advisers to spread word
29 May 2019 Givealittle no competition for insurance
28 May 2019 Heavy trading on NZX today
28 May 2019 No need to worry about interest rates; BNZ in the gun
28 May 2019 A place in the sun
28 May 2019 Golden rates age set to last
28 May 2019 NZers admit they should be saving more
28 May 2019 Advisers: Aegis needs money
27 May 2019 F&P Healthcare falls after record $1 bill revenue
27 May 2019 Commerce Commission investigates BNZ
27 May 2019 Gloomy expectations around Super City
27 May 2019 Kiwibank one year special down to 3.85%
25 May 2019 Applying for a tenancy like applying for a job
24 May 2019 [The Wrap] What future financial advice firms could look like
24 May 2019 Companies punished when earnings expectations missed
24 May 2019 Resimac adds an underwriter
24 May 2019 Investor activity subdued in April
24 May 2019 No extensions for insulation compliance
24 May 2019 Westpac says RBNZ capital proposals would add $6,000 a year to an Auckland mortgage
24 May 2019 Westpac says RBNZ capital proposals would add $6,000 a year to an Auckland mortgage
24 May 2019 Dunedin adviser's offices searched by SFO
24 May 2019 SFO raids office of Dunedin adviser
24 May 2019 [GRTV] We have to prove we are not the bad guys: Ballantyne
24 May 2019 AIA appoints ambassadors for its new product
24 May 2019 Adviser group rebrands and plans to be a FAP
24 May 2019 SFO raids office of Dunedin AFA
24 May 2019 ANZ cans advice service - what next for NZ?
23 May 2019 Fletcher Building continues its good run
23 May 2019 Small banks say new proposals unfair
23 May 2019 Credit check ban unreasonable
23 May 2019 Small banks fire warning on capital requirements
23 May 2019 [GRTV] We have to prove we are not the bad guys: Ballantyne
23 May 2019 COMMENT: Why the new standards are not the answer
23 May 2019 Salt makes two key appointments
23 May 2019 [GRTV] Good conduct and culture drives out the snake oil
23 May 2019 FundSource finally sold - Sort of
22 May 2019 NZ shares edge up; Infratil gains after placement
22 May 2019 LVR restrictions stabilise property market: RBNZ
22 May 2019 [GRTV] Good conduct and culture drives out the snake oil
22 May 2019 What landlords can't ask tenants
22 May 2019 Pepper makes NZ BDM hire
22 May 2019 Advisers put in hours of unpaid work
22 May 2019 Aegis on the block - potentially
22 May 2019 Calastone makes switch to blockchain
21 May 2019 NZ shares fall; ComCom's early fibre views knock Chorus
21 May 2019 Pepper makes NZ BDM hire
21 May 2019 Warning: insulation deadline looming
21 May 2019 Prospa adds to team
21 May 2019 Prospa's rapid growth
21 May 2019 PE of 1
21 May 2019 Leave good client outcomes to advisers: Whyte
21 May 2019 [GRTV] Code gets eight out of 10 from long-time critic
20 May 2019 Banks shares rise on back of Australian election results
20 May 2019 [GRTV] Code gets eight out of 10 from long-time critic
20 May 2019 Wellington City price glow spreads
20 May 2019 Non-bank Pepper teams up with Astute
20 May 2019 Australian election a win for advisers
20 May 2019 Consilium Wrap on track for $4b
20 May 2019 Degree work continues despite Code opting for Level Five
19 May 2019 Fidelity Life team up for award
17 May 2019 Quiet trading on NZX ahead of upcoming earnings; Market finishes higher
17 May 2019 Don’t count on a market upturn
17 May 2019 Reserve Bank forces ANZ to increase risk capital by 60%
17 May 2019 Standards set to cost
17 May 2019 Mortgage Link inks deal with international group
17 May 2019 Insurer, client disagree over what makes an 'earner'
17 May 2019 [GRTV] No back-down from Level Five, Dale-Jones says
16 May 2019 Mortgage Link ties up with real estate firm
16 May 2019 Support for Christchurch call
16 May 2019 NZ shares extend gain in increasingly volatile market; Chorus gains
16 May 2019 Prospa plans IPO
16 May 2019 FMT cuts rates on commercial lending
16 May 2019 [GRTV] No back-down from Level Five, Dale-Jones says
16 May 2019 More bright spots emerge
16 May 2019 FADC hands down its punishment in non-disclosure case
16 May 2019 AIA appoints Vitality coach
15 May 2019 FSC and Workplace Savings NZ merge
15 May 2019 Dunedin insurance broker ordered to pay Asteron $371K
15 May 2019 NZ shares outperform global rally as low rates bolster local outlook
15 May 2019 FMT in $50 million commercial offer
15 May 2019 Bluestone replaces BDM
15 May 2019 Resimac's Jackson on commissions; Bluestone appoints new BDM
15 May 2019 Rental property confidence dims
15 May 2019 Code creates opportunities for quality mark
14 May 2019 NZ shares fall as Infratil flags equity raising for Vodafone deal
14 May 2019 Caution urged on financial safeguards
14 May 2019 Consilium apppoints new Auckland BDM
14 May 2019 Latest house sales data not flash; Westpac reckons market will rebound
14 May 2019 NZ sales on downbound train
14 May 2019 Advisers' need for research a benefit, not a hindrance: Douglas
13 May 2019 Trustpower hits record on special dividend; Tip Top sold
13 May 2019 It’s the law: Healthy Homes standards
13 May 2019 Nikko expands team
13 May 2019 FMA dishes out AML warnings
13 May 2019 Odd priorities – and how some are resolved
13 May 2019 NZFSG gets its on loan product; Adrian Orr explains OCR cut decision
13 May 2019 NZFSG rolls out its own mortgage product
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.
14 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.
16 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".
3 days ago Paul Flood