GoodReturns
Archive - 2022
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March 2022
16 Mar 2022 Milford adds new BDM
16 Mar 2022 [Opinion]Two years of COVID – what have we learnt in the property world?
16 Mar 2022 CCCFA reform inches forward; cabinet paper admits to flaws
16 Mar 2022 FSC launches locum agreement guide for financial advisers
15 Mar 2022 Pumping oil prices stall market
15 Mar 2022 New highs set for one and two year rates
15 Mar 2022 Prospa says more funds are needed by SMEs after two tough years
15 Mar 2022 Outsource office admin advisers told
14 Mar 2022 Travel stocks jump on hastened border opening
14 Mar 2022 Residential property sales hit a trough
14 Mar 2022 CCCFA changes don't go far enough; Industry trailblazer dies
14 Mar 2022 Magellan continues to bleed funds
14 Mar 2022 Overcomplicating Advice
14 Mar 2022 [Obituary] Insurance industry trailblazer Chris Coon dies
14 Mar 2022 Changes inside Pie Funds
14 Mar 2022 CCCFA changes need to go further – Bankers Association
14 Mar 2022 Strong economic growth forecast for December quarter – but don't celebrate yet
14 Mar 2022 Strategi Institute gains Tertiary Education Commission Board approval to support on-job training
14 Mar 2022 RBNZ seeks feedback on compulsory inspections and insurance enforcement
13 Mar 2022 Kloogh investors lose most of their money
12 Mar 2022 RBNZ plans to life company on-site inspections
11 Mar 2022 Inflation hacks share prices
11 Mar 2022 What advisers think of the CCCFA changes
11 Mar 2022 FSC creeps further into adviser land
11 Mar 2022 Podcasts for advisers
11 Mar 2022 Mortgage advisers welcome CCCFA reform, but more detail needed
11 Mar 2022 We'll call your clients: Edwards
11 Mar 2022 Recent M&A activity, what is driving it and what it means
11 Mar 2022 Harbour Investment Outlook - Ukraine invasion heightens already elevated volatility
11 Mar 2022 [BREAKING NEWS] CCCFA changes coming
11 Mar 2022 A win for borrowers; CCCFA changes won
11 Mar 2022 Cathie Wood: some answers for jittery Ark investors
10 Mar 2022 NZ shares rally as oil prices retreat
10 Mar 2022 Ownership changes at SuperCity Mortgages
10 Mar 2022 After 50 years, Brian Klee decides to hang up his shingle
09 Mar 2022 NZ shares stabilise as buyers bag bargains
09 Mar 2022 Low-fee Simplicity runs foul of FMA with misleading ad campaign
09 Mar 2022 Banks rack up massive profits
09 Mar 2022 Banking business booms – KPMG survey
09 Mar 2022 Life insurance covers up but claims down through pandemic
08 Mar 2022 Stagflation fear sends NZ shares sliding
08 Mar 2022 Bolton steps back; bank boss steps in; ANZ doubles down on interest rate rises
08 Mar 2022 Bolton steps back; bank boss steps in
08 Mar 2022 Even higher interest rates forecast
08 Mar 2022 KiwiWealth officially for sale
08 Mar 2022 Women disadvantaged by working from home; Brightline test answers
08 Mar 2022 Women disadvantaged by working from home – report
08 Mar 2022 Financing the invasion of Ukraine
07 Mar 2022 TMMO Daily news
07 Mar 2022 NZ shares slide as oil prices spike
07 Mar 2022 Accountants provide simple answer to brightline test
07 Mar 2022 National Party proposals “will please financial advice industry”
05 Mar 2022 The latest on Fidelity's ratings
05 Mar 2022 Milford, Harbour and Bentham pick up gongs
04 Mar 2022 Growth stocks lead NZX 50 lower
04 Mar 2022 Join the Club – Financial wellbeing for Women
04 Mar 2022 Generate KiwiSaver pumps $13.7 mill into social housing
04 Mar 2022 [The Wrap] The war in Ukraine throws responsible investing on its head
04 Mar 2022 Covid knocking advice businesses
04 Mar 2022 Omicron hits the brokerage business
04 Mar 2022 Records to topple for commercial and industrial sales
03 Mar 2022 NZ shares jump on slow rate hikes
03 Mar 2022 Big hitting government funds act on Russian investments
03 Mar 2022 CCCFA hitting the wrong target
03 Mar 2022 Solid borrowers, not the vulnerable, hurt most by CCCFA – report
02 Mar 2022 NZ shares seesaw and investors buy bonds
02 Mar 2022 Goppy's gone
02 Mar 2022 Advice pays
02 Mar 2022 Fishhooks for insurers in draft Insurance Contracts Bill
02 Mar 2022 Record hotel transactions despite tourism and pandemic woes
01 Mar 2022 NZ shares snap back after shock of war
01 Mar 2022 Can you do digital insurance advice with a tiny IT budget?
01 Mar 2022 The value of mortgage advice
01 Mar 2022 Landlords: Don’t forget breach notices
01 Mar 2022 Mortgage advisers make NZ borrowers better off – survey
01 Mar 2022 Deal values Fidelity at $560 million
February 2022
28 Feb 2022 ‘Impressively resilient’ NZX 50 up 0.3%
28 Feb 2022 Heartland Bank offers white-label product
28 Feb 2022 FMA appoints new board members
28 Feb 2022 Financial advisers told to expect people to leave the industry
28 Feb 2022 Heartland Bank enters broker market
26 Feb 2022 Asteron Life extends Best Doctors package to more customers
25 Feb 2022 Mother of all reversals on NZX today
25 Feb 2022 Orr explains how the RBNZ is driving the economy
25 Feb 2022 Strong year for health insurance sector in 2021
25 Feb 2022 Advisers get well-being support
24 Feb 2022 NZ shares plunge as Putin invades Ukraine
24 Feb 2022 The rising OCR and its effect on mortgages
24 Feb 2022 Bold call from CoreLogic
24 Feb 2022 Home mortgages will not rise at the same rate as the OCR – CoreLogic
24 Feb 2022 AIA to engage one billion people globally by 2030
24 Feb 2022 Workplace happiness key to retaining staff amid the ‘Great Resignation’
23 Feb 2022 NZ equities shrug off bond rally and war threat
23 Feb 2022 OCR up: Here's why
23 Feb 2022 OCR up: What the RBNZ said
22 Feb 2022 NZ shares fall as Russia recognises separatist regions
22 Feb 2022 What to expect with interest rates tomorrow
22 Feb 2022 AIA Group establishes InsurTech business
22 Feb 2022 Heartland Bank raises profits
22 Feb 2022 Housing downturn faster than expected - Westpac
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".
4 days ago Paul Flood