GoodReturns
Archive - 2004
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July 2004
14 Jul 2004 Developer sweetens lease deals
14 Jul 2004 Gulf Harbour land sold for $1
14 Jul 2004 Mike Pero increases profit forecast
14 Jul 2004 Overseas expert gives super fund tick
13 Jul 2004 Is the world’s banker about to stumble?
13 Jul 2004 New appointments help super fund get fully invested
13 Jul 2004 Tax man takes a hard look at landlords
13 Jul 2004 Tax depreciation issues paper released
13 Jul 2004 Greedy Labour Punishes Rental Home Owners
13 Jul 2004 House price fall of 5pc tipped for next year
13 Jul 2004 People opt to pay off house rather than save
13 Jul 2004 Rotorua office block on market for $10m
13 Jul 2004 New houses & schools for Papakura
13 Jul 2004 Seven signs of fraud
13 Jul 2004 Moore joins AMP Capital Investors
12 Jul 2004 Adviserlink Fundamentals & Processes
12 Jul 2004 Adviserlink Practice Management
12 Jul 2004 Fixed interest investing
12 Jul 2004 Fairy tales
12 Jul 2004 Tenants paying landlords' phone maintenance bills
12 Jul 2004 Many property investors going industrial
12 Jul 2004 On course
12 Jul 2004 Tax rejig looked at to encourage short term investment
12 Jul 2004 NZ inflation tipped to hit 2.5 per cent
12 Jul 2004 Maori land being cashed up
12 Jul 2004 Seven signs of fraud
12 Jul 2004 Floating rates no place to be
12 Jul 2004 Property problems: Getting to grips with Glasgow lease features
12 Jul 2004 Floating rates no place to be
12 Jul 2004 News Round Up
11 Jul 2004 Give us a a break - agent - Mary Holm
11 Jul 2004 Secure your income for a rainy day
11 Jul 2004 Property glut forcing rents down
11 Jul 2004 Should you choose active or passive share investments?
11 Jul 2004 The Rogernomics revolution 20 years on
11 Jul 2004 Building boon for small business
11 Jul 2004 For real mortgage costs, add to the ads
11 Jul 2004 Tax change would boost technology sector
11 Jul 2004 Mortgage Choice Australia to list
11 Jul 2004 Lack of land 'stifling' Waitara
11 Jul 2004 AMP Office Trust raises $95 milion
11 Jul 2004 The good life – without the work
11 Jul 2004 Australians borrow less to buy homes in May
09 Jul 2004 NZSIP breakfast seminar
09 Jul 2004 Salvus finally makes it to market
09 Jul 2004 Life business helps two giants out of trouble
09 Jul 2004 Mortgage Choice Australia to list
08 Jul 2004 NZ's monster May trade surplus confirmed
08 Jul 2004 Home Ownership All-Consuming
08 Jul 2004 People opt to pay off house rather than save
07 Jul 2004 Retirement Challenges seminar
07 Jul 2004 Stobo appointed to tax role
07 Jul 2004 Split home loans squashed
07 Jul 2004 Little ombudsman can do to help savers switch
07 Jul 2004 House prices falling in Auckland's eastern suburbs
07 Jul 2004 Weighty rule book aims to fix leaky buildings
07 Jul 2004 Split home loans squashed
07 Jul 2004 Council to appeal rural subdivision decision
07 Jul 2004 $60 million spending spree
07 Jul 2004 Auckland property 'taking a breather'
07 Jul 2004 Housing market looks Down Under for clues
07 Jul 2004 Christchurch council offers to test properties on former dump
07 Jul 2004 Westfield debuts as world's biggest retail property group
07 Jul 2004 'Red hot' economy surges onward
07 Jul 2004 Figures Show Easing Of Volume And Prices
07 Jul 2004 Fiona Hermans returns to CIGNA
06 Jul 2004 Not everyone's enjoying a house price boom
06 Jul 2004 New rules on foreign land sales kept secret
06 Jul 2004 Door opens to more migrants
06 Jul 2004 Sentimental Bob back in business
05 Jul 2004 Investor Interview: Tower's Keith Taylor
05 Jul 2004 Adviserlink Investments & Risk Management
05 Jul 2004 House prices to rise ­-- report
05 Jul 2004 Apartment sector growth predicted
05 Jul 2004 Heritage Hotel investors lose out
05 Jul 2004 Like to live it large? Rent a city cupboard
05 Jul 2004 Two year fixed rates best home loan option
05 Jul 2004 Builder shortage leads to overseas recruitment
05 Jul 2004 Rich List Editorial: NZ surfs an economic boom
05 Jul 2004 New Department of Building and Housing
05 Jul 2004 Choice Hotels launches brands in NZ
05 Jul 2004 Two year fixed rates best home loan option
05 Jul 2004 Equitable appointments
04 Jul 2004 News Round Up
04 Jul 2004 Housing boom and bust
04 Jul 2004 Pinning down prices - Mary Holm
04 Jul 2004 Landlords could lose millions in tax changes
04 Jul 2004 The Low Down on Lo–Doc
04 Jul 2004 Fund managers need to answer for a decade of dismal returns
04 Jul 2004 Well-heeled need platforms to make rich list
04 Jul 2004 Kiwi Dollar Looks To Stay Strong
02 Jul 2004 The Low Down on Lo–Doc
02 Jul 2004 Market Review: A half-year report card
02 Jul 2004 Regulators tight-lipped on funds enquiry
01 Jul 2004 Wilson speaks out on regulation
01 Jul 2004 Tax of death and asset distributions to be clarified
01 Jul 2004 Room for professionals in rental market
01 Jul 2004 What to do with your bonds
01 Jul 2004 Salary savers
01 Jul 2004 Affinity fraudsters fleecing millions from groups
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
I agree with the "prevalence-induced" concept. It is definitely not Advisers re-defining what we're seeing or over-reacting to the "maturing" of regulation. The concept Steve put forward suggests that as the problem becomes less frequent, the criteria used to define the problem expands, resulting in lesser problems being treated like greater problems. The root of the regulations we have is based in answering questions nobody asked, addressing problems Advisers did not cause. Such as blaming investment advisers for the losses direct investors took from finance company collapses, or allowing lobbyists to succeed in defining BEOT VIOs' sales processes as "advice". So from the beginning - 2011 onwards - there has been so little prevalence of problematic advisers causing terrible outcomes through faulty advice processes that it does appear that the regulators are defining lesser problems as greater. Paul – the “rules” are not rules. Everyone knows what a forward pass is, and we all know that a whiskey still counts as a stroke. Our regulations are mostly principles supported by vague guidance notes. You have correctly pointed out that there has been a lighter touch at times, and perhaps a sledgehammer at other times. To a FAP owner that looks like inconsistency. With no clear safe zone, just vague principles to abide by, and watching patchy and inconsistent enforcement, FAPs have taken an approach to documentation and processes that are now being criticised by the same people who won’t set a bar. But they will say we’re jumping too dam high. “Size it right” is an insulting suggestion from someone who won’t say what the right size is. Recall people like Brent Sheather and Murray Weatherston openly and rightfully questioning what on earth was the problem these regulators and regulations were meant to solve? Recall also their criticism of the revolving door between the regulator and the regulated. If it feels like they are moving the goal posts it’s because they are starting to approach molehills with climbing gear. The hills are the same size. And they were never that big.
10 hours ago agressively passive
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.
3 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.
3 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.
5 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…
5 days ago Jon-Paul Hale