GoodReturns
Archive - 2013
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February 2013
18 Feb 2013 Most Kiwis wary of insurance industry: Study
18 Feb 2013 Edge Mortgages leaves Newpark for another group
18 Feb 2013 Ross Asset Management liquidation committee
18 Feb 2013 $100 million for property development: NZMS
18 Feb 2013 New record price for lifestyle blocks
17 Feb 2013 We were wrong
15 Feb 2013 Giant ANZ bond issue to reset
15 Feb 2013 [Weekly Wrap] A new impost
15 Feb 2013 Capital + Merchant guilty pleas
15 Feb 2013 Home loan payments via internet banking
15 Feb 2013 ANZ: Still work to be done on KiwiSaver
15 Feb 2013 Web won’t kill adviser conferences
15 Feb 2013 Peter Rourke in new role
15 Feb 2013 Kiwibank gets aggressive in the short term
15 Feb 2013 Insurance cover change coming this year
15 Feb 2013 Solid apartments 'sought-after'
14 Feb 2013 ASB identifies potential in insurance sales
14 Feb 2013 Kiwibank's "lowest-ever" rate
14 Feb 2013 Advisers fuming at AML proposal
14 Feb 2013 Survey reflects strong property market
13 Feb 2013 ASB: Focus on insurance sales
13 Feb 2013 Surprises await in application fine print
13 Feb 2013 LVR restrictions picked for Aucklanders
13 Feb 2013 AMP picks Mercer, drops Van Eyk
13 Feb 2013 Aucklanders may be hit with LVR restrictions: Poll
12 Feb 2013 New deputy for RBNZ
12 Feb 2013 Asteron to offer Best Doctors
12 Feb 2013 KiwiSaver gender gap concerns
12 Feb 2013 Southern Cross picks insurance rebound
12 Feb 2013 Asteron gets new underwriters
12 Feb 2013 Property price rise not just about shortage: Westpac
11 Feb 2013 Lender pursues Allied over $500k loan
11 Feb 2013 Harbour Monthly Commentary: The price is right in equities
11 Feb 2013 QV stats hide big discrepancies
11 Feb 2013 Westpac cuts rates
11 Feb 2013 'Natural' to buy wealth products direct
11 Feb 2013 Milford expands team
11 Feb 2013 Has compliance knocked the insurance adviser market?
11 Feb 2013 Smith tackles development charges
08 Feb 2013 Opposition to ‘life stages’ default funds
08 Feb 2013 [Weekly Wrap] Default advice
08 Feb 2013 Yield-chasing raises concern
08 Feb 2013 Green light for rebuild
08 Feb 2013 Rents up but yields down
07 Feb 2013 Growth funds lead
07 Feb 2013 Ross couldn't keep up with withdrawals: Receivers
07 Feb 2013 FATCA 'workable' for NZ super
07 Feb 2013 Strategic breaches likely: FMA
07 Feb 2013 Prices will increase more quickly this year: Alexander
07 Feb 2013 Anyone can buy a house: NZPIF
06 Feb 2013 Bank chases wealth customers
06 Feb 2013 Win for Partners Life
05 Feb 2013 Directors plead guilty
05 Feb 2013 ASB: Tools will be used to delay OCR hike
05 Feb 2013 Dollar may hit US90c
05 Feb 2013 Infratil buying back infrastructure bonds
05 Feb 2013 Free audit insurance a first: Brokerage
05 Feb 2013 Newpark nabs Sovereign man
05 Feb 2013 Poker faces over housing
05 Feb 2013 Barfoot reports strong January sales
05 Feb 2013 No let-up in housing market for years: ASB
04 Feb 2013 Different approach to target Asian market
04 Feb 2013 Pathfinder Commentary: Portfolio protection
04 Feb 2013 Appointment to target Indian community
04 Feb 2013 Tate: Advice more important than scheme
04 Feb 2013 Fund managers call for level playing field
04 Feb 2013 Desperate buyers turn to leaky homes
03 Feb 2013 Listings can't keep pace with interest: Realestate.co.nz
01 Feb 2013 Tyndall Monthly Commentary: Bondholders risk euthanasia
01 Feb 2013 BNZ picks KiwiSaver launch date
01 Feb 2013 From TOWER to NIWA
01 Feb 2013 Govt: No views yet on FAA
01 Feb 2013 Default status up to Govt
01 Feb 2013 Former AFA investigated
01 Feb 2013 Surge in lending growth for Kiwi banks
01 Feb 2013 [Weekly Wrap] To CPD or not to CPD?
01 Feb 2013 Commission ban 'inevitable'
01 Feb 2013 Wheeler calls for regulation reform
01 Feb 2013 Spicers loses National Investment Manager
01 Feb 2013 Fewer Kiwis leaving the country
01 Feb 2013 Apartments proposed for waterfront
January 2013
31 Jan 2013 OCR: What the economists said
31 Jan 2013 Hubbard payouts due in February
31 Jan 2013 Aussie advisers told: Commission disclosure optional
31 Jan 2013 Economists surprised by Wheeler's hawkish tone
31 Jan 2013 50% more advisers this year: Claim
31 Jan 2013 OCR on hold - as predicted
31 Jan 2013 Predictions come true
31 Jan 2013 Newland: Best option? Do nothing
31 Jan 2013 Economists surprised by Wheeler's optimistic tone
30 Jan 2013 What's an actuary worth?
30 Jan 2013 Green Party claims 'misguided'
30 Jan 2013 Fidelity GM of sales quits
30 Jan 2013 Don't get caught in social media web, advisers warned
30 Jan 2013 Director pleads guilty
30 Jan 2013 Leitch: Don't change the rules already
30 Jan 2013 Premium hike fears dismissed
30 Jan 2013 Newpark makes senior appointment
30 Jan 2013 Volatile apartments push consent figures up
29 Jan 2013 KiwiSaver buyouts a challenge for advisers
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.
1 day 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.
1 day 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.
3 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…
3 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