GoodReturns
Archive - 2009
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March 2009
26 Mar 2009 Trustees under spotlight over their role
25 Mar 2009 A slow gradual climb
25 Mar 2009 KiwiSaver & Employment Law Seminar
25 Mar 2009 ASFONZ / Women In Super Industry Breakfast
25 Mar 2009 Becker bows out of ING
24 Mar 2009 Tower just gets minimum for bond offer
24 Mar 2009 KiwiSaver & Employment Law Seminar
24 Mar 2009 Vector may sell $150m of five-year bonds
24 Mar 2009 Cash now, cash later: ING converts deal
23 Mar 2009 UDC Roadshows
23 Mar 2009 Finance companies acted like ‘Ponzi schemes,’ registrar says
23 Mar 2009 News Round Up
23 Mar 2009 Thomas steps down from PAA
22 Mar 2009 MortgageWatch: More increases to longer term rates
22 Mar 2009 Rates Round Up
20 Mar 2009 Weekly Wrap: A one trillion dollar week
20 Mar 2009 * Comparing current Bond Offers *
20 Mar 2009 Big three agencies win RB approval
19 Mar 2009 Insolvency changes don’t go far enough
19 Mar 2009 Gould takes Spicers board spot
18 Mar 2009 ASB's profit and mortgage book stall in Dec Qtr
18 Mar 2009 Hanover says market continues to deteriorate
18 Mar 2009 Health insurance policies on the increase
18 Mar 2009 An Update From The Banking Ombudsman
18 Mar 2009 New chair for Hanover group
18 Mar 2009 Online fraudsters targeting landlords
18 Mar 2009 Morningstar rates AMP Capital's fixed interest strategy
17 Mar 2009 Diversified expands by two
17 Mar 2009 First KiwiSaver scheme to go
16 Mar 2009 Economic outlook for 2009 and an update from the Securities Commission
16 Mar 2009 News round-up
16 Mar 2009 Rates round-up
14 Mar 2009 Real mortgagee sale numbers
13 Mar 2009 MortgageWatch: Shorts down, longs up
13 Mar 2009 Weekly Wrap: Not a bad week!
13 Mar 2009 Getting a handle on mortgagee sales
13 Mar 2009 Market Review: March 2009 Commentary
13 Mar 2009 Market Review: London March 2009 Commentary
13 Mar 2009 Sovereign allows term life policies to be suspended
13 Mar 2009 Money follows people
13 Mar 2009 Advisers urged to continue education
12 Mar 2009 Curtin steps down as Com Com deputy
12 Mar 2009 CFA Ethics Workshop
12 Mar 2009 Bollard signals end to steep easing cycle as economy troughs
12 Mar 2009 OCR reduced to 3%
12 Mar 2009 Bollard disappoints some with 50 point OCR cut
12 Mar 2009 OCR reduced to 3%
12 Mar 2009 Ombudsman criticises ANZ advice over ING funds
11 Mar 2009 Tax changes will worsen NZ under-insurance
11 Mar 2009 Home sales, prices revive in February
11 Mar 2009 CFA Ethics Workshop
11 Mar 2009 Residential highlights - February 2009
11 Mar 2009 ANZ's new mortgage lending all but dried up in Dec qtr
11 Mar 2009 Growth still distant dream for AXA Global Investors
11 Mar 2009 Real estate market showing positive signs: Survey
10 Mar 2009 Kiwibank appoints five
10 Mar 2009 Evicted state tenants a concern for landlords
10 Mar 2009 ING/ANZ marriage sound, Bedbrook says
09 Mar 2009 Rates round-up
09 Mar 2009 News round-up
09 Mar 2009 Property values fall 8.9%: QV
09 Mar 2009 Auckland the most positive big city
06 Mar 2009 A real life experience
06 Mar 2009 Weekly Wrap: Winners and the others
06 Mar 2009 Bollard to cut rates again
06 Mar 2009 Opinion: NZ Superannuation Fund
06 Mar 2009 TakING two: How's Plan B stack up?
06 Mar 2009 Adviser award winners announced
06 Mar 2009 IFA turns around deficit
05 Mar 2009 PAA Conference 2009
05 Mar 2009 Auckland house prices rise, confidence edges up
05 Mar 2009 Bollard may not cut as deep as RBA holds interest rates
05 Mar 2009 Super Fund takes from Goldman Sachs
05 Mar 2009 AXA buys Goulds - finally
04 Mar 2009 PIS Professional Lending Services Summit
04 Mar 2009 Regulatory update: How will FSP impact financial service professionals
04 Mar 2009 Opinion: Cheaper in bulk? Not usually
04 Mar 2009 Falls and rises in home loan rates
04 Mar 2009 Brook fired by NZ Super
04 Mar 2009 Falls and rises in home loan rates
04 Mar 2009 Orewa showhome for sale - 7.81% return for 15 months
03 Mar 2009 Marac not facing funding cliff
03 Mar 2009 AMP latest corporate bond offer
03 Mar 2009 Who has got a guarantee?
03 Mar 2009 Morningstar Announces Fund Manager of the Year Winners
03 Mar 2009 AIA to be seperated from AIG
03 Mar 2009 Guardian Trust to make first repayment
03 Mar 2009 Westpac's profit, mortgage market share shrink
03 Mar 2009 Loan Market expands
02 Mar 2009 AMP Capital named number one manager
02 Mar 2009 Deposit guarantee put to the test
02 Mar 2009 Morningstar 2008 Fund Manager of the Year Awards
02 Mar 2009 Companies called to lend a hand
02 Mar 2009 Mint job for Deacon
02 Mar 2009 News round-up
02 Mar 2009 Bawden's aggregation group to re-brand
02 Mar 2009 Rates round-up
02 Mar 2009 Women’s workshop highlights NZ potential
February 2009
28 Feb 2009 Weekly Wrap: ING the currency of the week
27 Feb 2009 Suddenly now is the time to buy property
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