GoodReturns
Archive - 2018
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April 2018
30 Apr 2018 Asteron Life launches flexible mortgage insurance
27 Apr 2018 Owner-occupier and investor lending jumps in March
27 Apr 2018 Apartments offer better deals
27 Apr 2018 The Code – issues for advisers (Part Three)
27 Apr 2018 Performance fee questioned
26 Apr 2018 Industrial rents on the rise
26 Apr 2018 From university to FMA
26 Apr 2018 New CEO for Kiwibank
26 Apr 2018 Scope versus advice
26 Apr 2018 An enquiry? Careful what you wish for
24 Apr 2018 Tax policy could heighten rental crisis
24 Apr 2018 Migration trend continues to ease
24 Apr 2018 Advisers invited to join Financial Advice NZ
24 Apr 2018 The Code – Issues for advisers (Part Two)
23 Apr 2018 Mixed sustainability report card for NZ
23 Apr 2018 Advisers need to lift their game to help clients
23 Apr 2018 Making the switch
23 Apr 2018 [Opinion] The future of advice is at risk
23 Apr 2018 Kiwibank slashes rates
22 Apr 2018 nib adds free travel insurance
20 Apr 2018 LVR a “permanent tool”: RBNZ Governor
20 Apr 2018 Time to tackle asbestos
20 Apr 2018 Heads roll at AMP Australia
20 Apr 2018 Property investors returning; Degrees for mortgage brokers
20 Apr 2018 Degree 'not the answer to industry's problems'
19 Apr 2018 FMA probes performance fees
19 Apr 2018 Property investors “bounce back” in February: ANZ
19 Apr 2018 Tenant damage liability changes unfair
19 Apr 2018 Rate cuts; Old, new face returns to the industry
19 Apr 2018 Faafoi considering complaints
19 Apr 2018 Sovereign makes product changes
18 Apr 2018 Colonial First State set for IPO
18 Apr 2018 LifeDirect taps into Hugo
18 Apr 2018 Mortgage People founders launch online brokerage
18 Apr 2018 Quotemonster branches into advice
18 Apr 2018 [GRTV] The future of insurance commissions
18 Apr 2018 Kepa takes stake in member business
18 Apr 2018 Tenant damage liability: the Select Committee speaks
18 Apr 2018 [Opinion] RFAs missing in action
18 Apr 2018 NZ Funds launches latest fintech tool for advisers
18 Apr 2018 Regan: AMP's conduct unacceptable
17 Apr 2018 FMA ponders PDS in Te Reo
17 Apr 2018 Super City market stagnates
17 Apr 2018 Huxford keen to stay in ANZ role
17 Apr 2018 Time to get climbing?
17 Apr 2018 The Code – issues for advisers (Part One)
16 Apr 2018 What's a Comm Games gold medal (or two) worth?
16 Apr 2018 Rent rise no surprise
16 Apr 2018 Core Finance relaxes lending criteria
16 Apr 2018 Invercargill property magnate
16 Apr 2018 Partners records best year ever
16 Apr 2018 [GRTV] Special Episode: Minister discusses adviser reforms, commission and KiwiSaver
16 Apr 2018 [GRTV] Faafoi responds to CWG criticism
13 Apr 2018 Wealth Technologies challenges for NZX
13 Apr 2018 Auckland shortage to get worse
13 Apr 2018 Goppy returns
13 Apr 2018 Millennials turn to Kiwisaver for home deposits
13 Apr 2018 Accuro disrupted
13 Apr 2018 Two week lull ends
13 Apr 2018 Fees eroding risk premium: Researchers
12 Apr 2018 RBNZ: new PTA an “evolution”
12 Apr 2018 Code proposals 'baloney'
11 Apr 2018 ANZ increases servicing rate for loans
11 Apr 2018 Buyer demand cooling
11 Apr 2018 Time to talk tax
11 Apr 2018 Investors: PDS still too complicated
11 Apr 2018 Fidelity: Incentives regime changing
10 Apr 2018 Make commission details publicly available: MBIE
10 Apr 2018 Make commission details publicly available: MBIE
10 Apr 2018 Opportunities in SuperCity CBD market lull
10 Apr 2018 SME owners lack income protection
10 Apr 2018 Pie Funds plans to extend advice team
10 Apr 2018 Multilingual adviser joins top firm
10 Apr 2018 Electronic loan lodgement inches close
10 Apr 2018 Bank mortgage adviser joins Auckland team
10 Apr 2018 First woman president for NZPIF
10 Apr 2018 NZ Funds: Cheaper might mean less responsible
10 Apr 2018 Warning: Time crunch coming for advice sector
10 Apr 2018 Claims – the case for applying
10 Apr 2018 FMA lacking ability to fine
09 Apr 2018 Tech firm to visit NZ ahead of electronic lodgement launch
09 Apr 2018 New head of group risk for Fidelity Life
09 Apr 2018 Don’t neglect tenant safety
09 Apr 2018 Meth contamination demystified
09 Apr 2018 Milford sees more opportunities in NZ market
06 Apr 2018 The Wrap: Unofficial QSMs; Formal CWG complaint lodged: Will anyone follow AMP?
06 Apr 2018 [Opinion] Let’s embrace the spotlight and talk about trust
06 Apr 2018 NZ customers more "satisfied" with local banks
06 Apr 2018 ANZ: first time buyers are back
06 Apr 2018 New business development manager for Consilium
06 Apr 2018 Mortgage brokers expanding
06 Apr 2018 No complaints about working group
05 Apr 2018 New appointment to lead Pinnacle
05 Apr 2018 SuperCity March sales at 8 year low
05 Apr 2018 AMP: No more overseas trips
05 Apr 2018 City markets take value growth hit
05 Apr 2018 Simplicity wades into Smartshares territory
05 Apr 2018 QSM not getting royal welcome yet
04 Apr 2018 Landlords top property managers for tenants
04 Apr 2018 Financial Advice NZ quality mark outlined
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