GoodReturns
Archive - 2016
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April 2016
09 Apr 2016 [VIDEO] Paul Fuller tells mortgage advisers what life's like as an AFA
08 Apr 2016 Harbour expands investment operations team
08 Apr 2016 Perils of dodging due diligence
08 Apr 2016 Verhaart joins GMI
08 Apr 2016 Due diligence: how to avoid disaster
08 Apr 2016 Kiwi accountants not planning to follow Australian lead into financial advice
08 Apr 2016 IFSO on membership drive
07 Apr 2016 Supply boost to have limited market impact
07 Apr 2016 FSC and Workplace Savings get together (sort of)
07 Apr 2016 IFA recognises Jennings' achievements
07 Apr 2016 New adviser group launched
07 Apr 2016 Brighter future for property owners
07 Apr 2016 End of Super City's downward trend?
07 Apr 2016 China's next export: Inflation?
07 Apr 2016 Triplejump franchises set up independent firm
06 Apr 2016 National values up, Auckland values down
06 Apr 2016 NZ Post sells Kiwibank stake
06 Apr 2016 Kepa to offer more focused support, faces new competition in market
06 Apr 2016 When to worry about meth
06 Apr 2016 Milford appoints director
06 Apr 2016 Another building society moves
05 Apr 2016 SIL and MFL stop taking new members
05 Apr 2016 Life after Jennings 'business as usual'
05 Apr 2016 Affordability improvement will be short-lived
05 Apr 2016 Greens' Kiwibank stance criticised
05 Apr 2016 Kepa home loans boss steps down
05 Apr 2016 Limited supply pushes prices up
05 Apr 2016 Squirrel offer open to public
05 Apr 2016 Wu: Don't expect Chinese improvement for some months
04 Apr 2016 Squirrel offer open
04 Apr 2016 Safe as houses
04 Apr 2016 Demand driving regional prices
04 Apr 2016 We have a new one-year rate leader
04 Apr 2016 Cut to boost or hike to slow?
04 Apr 2016 Stretched equities make absolute funds appeal: Managers
04 Apr 2016 China's global importance
01 Apr 2016 Rob Tucker takes on new role
01 Apr 2016 Rob Tucker takes on new role
01 Apr 2016 Advisers help change behaviour, not just sell a product
01 Apr 2016 Reserve Bank's 'fine balance'
01 Apr 2016 Look to the regions
01 Apr 2016 Get smart
01 Apr 2016 Where is the line for 'disrepute', IFA asks
March 2016
31 Mar 2016 New kid on the block
31 Mar 2016 New business to offer online compliance help
31 Mar 2016 Investment planner pleads guilty
31 Mar 2016 Focus on affordability grows
30 Mar 2016 Mistake to overlook due diligence
30 Mar 2016 Construction on the rise
30 Mar 2016 BNZ moves one-year Special lower
30 Mar 2016 Southern Cross launches life insurance
30 Mar 2016 Pie funds' KiwiSaver plans on hold
30 Mar 2016 Wellington South: Positively diverse
29 Mar 2016 New kid on the block
29 Mar 2016 Verhaart leaving AMP Capital
29 Mar 2016 Kiwibank takes aim at two-year term
29 Mar 2016 'Disappointed' PAA boss says advisers support missive
29 Mar 2016 Australasia one single housing market
26 Mar 2016 Squirrel offer may go public
25 Mar 2016 Getting better building information
24 Mar 2016 GFS plans to expand
24 Mar 2016 RBNZ to investigate alleged OCR leak
24 Mar 2016 Reverse mortgage growth moving forward
24 Mar 2016 Fund manager to lose PIE status
24 Mar 2016 Investor lending picks up
24 Mar 2016 Apartment takeover
24 Mar 2016 Advisers criticised for no-show
24 Mar 2016 Quirk leaving Milford role
24 Mar 2016 Young people holding back from buying
24 Mar 2016 Sovereign adviser re-engagement gets off to good start
24 Mar 2016 AMP offers insurance deal to stem flow of customers to bank KiwiSaver schemes
24 Mar 2016 Lifetime boss hopes momentum will grow
24 Mar 2016 Housing supply tax fears eased
23 Mar 2016 New dawn for Springpark
23 Mar 2016 Westpac and Co-Op banks move rates
23 Mar 2016 Advisers slow to file renewals
23 Mar 2016 Cutting through the red tape
22 Mar 2016 Unit rents lead the way
22 Mar 2016 New boss for Aegis
22 Mar 2016 ASB forecasts 1.75% OCR
22 Mar 2016 Harmoney puts brakes on secondary market
22 Mar 2016 Court battle costs broker everything
22 Mar 2016 Property dreams on ice
21 Mar 2016 MBIE to reveal submissions
21 Mar 2016 More OCR cuts to come - ASB
21 Mar 2016 ANZ inches up the league table with fixed rate pricing cuts
21 Mar 2016 BNZ signs up second dealer group
21 Mar 2016 Higher standards for RFAs a must for financial advice 'profession'
21 Mar 2016 Migration defies forecasts
18 Mar 2016 Comparing selected banks
18 Mar 2016 Comparing lenders
18 Mar 2016 PI cover: More cost - any benefit?
17 Mar 2016 Shortlist for state house sales
17 Mar 2016 BNZ finally move
17 Mar 2016 [Updated] JMIS gets most of the Sovereign money
17 Mar 2016 Kepa not keeping regional roles
17 Mar 2016 Registering property to get easier
16 Mar 2016 Mortgage fraudster gets jail time
16 Mar 2016 Playing the man not the ball
16 Mar 2016 No role for politicians in OCR uproar - experts
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