GoodReturns
Archive - 2021
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May 2021
18 May 2021 Climate crisis solution is finance: Shaw
17 May 2021 NZ shares edge up from two-month low
17 May 2021 Southern Cross rebrands hospital network
17 May 2021 Astute hires new BDM
17 May 2021 Slow to adapt and fixed in our ways - the problems with life cover
17 May 2021 ASB launches 1.79% variable rate
17 May 2021 ASB launches 1.79% variable rate for new builds
16 May 2021 [The Wrap] What we learnt from the great KiwiSaver shakeout
15 May 2021 How three sacked KiwiSaver default providers reacted
15 May 2021 Axed KiwiSaver funds haven't done a good job
14 May 2021 NZX50 falls 2.8% this week as inflation rears its head
14 May 2021 Mercer sharpens RI focus
14 May 2021 Bye bye big banks - New KiwiSaver default fund providers celebrate
14 May 2021 KiwiSaver shake up not just about fees
14 May 2021 Fisher Funds - 'not a cut-price fund manager'
14 May 2021 Concerns about new tax ‘dismissed out of hand’
14 May 2021 Property market activity slows, prices up
14 May 2021 Five KiwiSaver providers lose default status; Two new ones added
13 May 2021 Rearing US inflation drives global stock markets lower
13 May 2021 Southern Cross industry update - senior staff movements and product opportunities
13 May 2021 House prices haven’t dropped yet – new records set
13 May 2021 Mindful Money awards entries delight organisers
13 May 2021 First signs of a cooling housing market
13 May 2021 Heartland launches 1.85% mortgage; Home loan hardships rise
13 May 2021 Estate planning course launches
13 May 2021 Single-adviser FAPs need to ‘reinvent the way they give advice’
12 May 2021 Blue-chip stocks knocked by growing inflation concerns
12 May 2021 Milford Disclaimer
12 May 2021 Heartland launches 1.85% mortgage
12 May 2021 Inflation about to hit Main Street
12 May 2021 Mortgage hardships rise
12 May 2021 Accuro invests in new digital tech
12 May 2021 Construction sector overstretched
12 May 2021 Methamphetamine use doesn’t mean eviction
12 May 2021 New homes under threat from overstretched construction sector
11 May 2021 a2 leads market lower for a second day
11 May 2021 Rent controls not the answer
11 May 2021 Efforts to dampen housing market not working yet
11 May 2021 Covid could come back to bite Kiwi insurers
11 May 2021 Top of the South Island pops
11 May 2021 Gold fraudster loses sentence appeal
11 May 2021 ANZ tightens investor servicing
11 May 2021 ANZ tightens servicing for investors; New estate planning course
10 May 2021 [The Wrap] You can feel the change. But is it good?
10 May 2021 Dairy stocks whacked on a2 Milk downgrade
10 May 2021 Kiwi Wealth invests more into private equity
10 May 2021 SBS rate cuts
10 May 2021 Investors pull back
10 May 2021 Fidelity Life creates new role for chief operating officer
10 May 2021 SBS one-year rate down to near market lows
10 May 2021 Advisers advancing towards larger FAPs
10 May 2021 Partners Life introduce nominated representatives
09 May 2021 Shadow commercial space emerges
07 May 2021 NZX50 dips slightly as investors react to Fonterra
07 May 2021 TCFD sounds dreary, but it's important. Here's why
07 May 2021 Reserve Bank's housing market fears
07 May 2021 Firm pinged for AML breaches
07 May 2021 BetaShares jumps the ditch with expansion into New Zealand
06 May 2021 FP Healthcare and a2 Milk weigh NZ shares down
06 May 2021 Reforms to financial market infrastructures (FMIs)
06 May 2021 New CEO councils at the FSC
06 May 2021 Reserve Bank's housing market fears
06 May 2021 Generate bolsters its management team
06 May 2021 Mortgage adviser share grows at ANZ; Co-op and TSB rate changes
06 May 2021 Tower builds partnerships with CSC and Sentro
06 May 2021 The death of the single adviser FAP
06 May 2021 ANZ sees manic lending in first half of year
05 May 2021 F&P Healthcare drags index lower
05 May 2021 No sign of house prices dipping yet
05 May 2021 Rival Wealth takes on the Auckland market
05 May 2021 Landlords taking time to think
05 May 2021 Alvarium buys into Newton Ross and NZ DIMS
05 May 2021 Reserve Bank fires warning over risky mortgage lending
05 May 2021 Home lending drives ANZ profit
05 May 2021 Westpac, BNZ, TSB rate changes; Reserve Bank fires lending warning
05 May 2021 Why PI insurance premiums are rising
05 May 2021 NZ banks in strong shape
04 May 2021 NZX 50 jumps 1% as dairy stocks rally
04 May 2021 Head of Russell Investments NZ calls it a day
04 May 2021 NZX launches carbon-efficient indices
04 May 2021 It's time to get serious about advice
04 May 2021 Wait on interest-only lending and DTIs
04 May 2021 Wait on DTIs and interest-only restrictions
04 May 2021 AMP equities sale on the horizon
03 May 2021 Westpac Bank jumps 5%; NZ shares rise
03 May 2021 Orr and Shaw headline Mindful Money awards and conference
03 May 2021 nib Little Legends $10k Relay gives junior players a healthy funding boost
03 May 2021 Investors – up and down
03 May 2021 Westpac NZ profits up, CEO to retire; Kiwibank and TSB rate cuts
03 May 2021 Westpac NZ profit rebounds; CEO to retire
03 May 2021 Further evidence of booming market
03 May 2021 [GRTV] Ballantyne on how new regs are changing advice and the fall in replacement business
03 May 2021 What the CoFI review means for advisers
April 2021
30 Apr 2021 US economic recovery boosts NZ shares
30 Apr 2021 Sales to drop keeping values rising
30 Apr 2021 RBNZ joins indigenous banking network
30 Apr 2021 Sharing is caring - consumer data rights for the advice sector
30 Apr 2021 First fully licensed adviser: Process ‘easier than I thought’
29 Apr 2021 Z Energy leads NZ shares higher
29 Apr 2021 Reserve Bank publishes cyber resilience guidance
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