GoodReturns
Archive - 2022
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February 2022
21 Feb 2022 Jarden building a warchest
21 Feb 2022 a2 Milk shares push NZX 50 higher
21 Feb 2022 Rising interest rates widely predicted
21 Feb 2022 Premium income grows at nib
20 Feb 2022 [Obituary] Peter Neilson
20 Feb 2022 Investors immune so far to credit crunch
20 Feb 2022 First words from new FMA CEO
19 Feb 2022 Landlords still hold the upper hand - just
18 Feb 2022 NZ shares down, Russian threat remains
18 Feb 2022 Borrowers paying off debt quicker
18 Feb 2022 People pay off mortgages earlier – Westpac
18 Feb 2022 The key to being a commercial landlord
17 Feb 2022 NZ shares prosper on strong earnings
17 Feb 2022 Quarter of advisers facing burnout
17 Feb 2022 The results are in for Asteron Life
17 Feb 2022 Clark's CCCFA clues
17 Feb 2022 Quarter of advisers consider quitting due to stress
17 Feb 2022 There has been a revolution in cancer treatment, its ongoing, and its great news.
17 Feb 2022 Not many Kiwis think it’s a good time to buy houses
17 Feb 2022 New head of distribution at Fidelity
16 Feb 2022 NZ shares rise as Fletcher Building hikes forecast
16 Feb 2022 Property managers to be regulated
16 Feb 2022 Will CCCFA changes go far enough?
16 Feb 2022 Broker thinks CCCFA enquiry will bring limited changes
16 Feb 2022 Housing market cooling rapidly
16 Feb 2022 Tricky transition favours stock picking
15 Feb 2022 KiwiSaver members better behaved
15 Feb 2022 NZX 50 dips 10 points; Infratil climbs
15 Feb 2022 Mike Pero mortgages names new CEO
15 Feb 2022 Mike Pero mortgages names new CEO
15 Feb 2022 CCCFA enquiry inches forward
14 Feb 2022 FNZ valued at US$20 billion plus
14 Feb 2022 Investors get access to Nikko's SRI fund
14 Feb 2022 Doing well, doing good: ethical KiwiSaver funds top rankings
14 Feb 2022 Survey supports the need for home equity release
12 Feb 2022 nib getting back to normal
11 Feb 2022 Hot inflation sends NZ shares falling
11 Feb 2022 Bank boss optimistic around CCCFA changes
10 Feb 2022 Earnings starts strong but NZX 50 falls
10 Feb 2022 Bank chief lays out CCCFA changes that are needed
10 Feb 2022 More than $1 billion walks out the door at AMP
10 Feb 2022 Insurers react to proposed NZ Income Insurance scheme
09 Feb 2022 NZ shares step higher ahead of earnings
09 Feb 2022 ASB profit back on track
09 Feb 2022 ASB raises profits in half year
09 Feb 2022 Impact of Covid on household living arrangements
09 Feb 2022 Research house asks if the end is nigh for Magellan
08 Feb 2022 Travel stocks up as Aussie reopens
08 Feb 2022 As residential property returns dwindle commercial property will rise
08 Feb 2022 OECD notes Kiwi bank depositors get protection
08 Feb 2022 What’s all this about a public income insurance scheme?
07 Feb 2022 Partners Life reverts to original criteria for Premium Holidays and Policy Suspensions
07 Feb 2022 Magellan boss Hamish Douglass steps aside
05 Feb 2022 Responsible Investing – not a fleeting fad
04 Feb 2022 NZ tech stocks slide on Meta's mega miss
04 Feb 2022 Landlords to be belted again by Government
04 Feb 2022 Has Consumer got it right on insurance and advisers?
03 Feb 2022 Cigna New Zealand offers up to $30,000 free critical illness
03 Feb 2022 Travel stocks up as NZ border reopens
03 Feb 2022 OECD lends support to DTIs
03 Feb 2022 Inside the FMA
02 Feb 2022 Mainfreight shares hit $90 as market bounces
02 Feb 2022 Why banks can't have standardised forms
02 Feb 2022 Common approach by banks to loans might be nice but hard to achieve off – bank executives
02 Feb 2022 Unemployment falls to 3.2%
02 Feb 2022 Unemployment figures could prompt higher interest rates
02 Feb 2022 OECD says New Zealand does well but difficulties remain
01 Feb 2022 Bargain hunters drive NZ shares higher
01 Feb 2022 CCCFA terms released; Bank bosses summoned to Beehive
01 Feb 2022 Commission creep concerns FMA
01 Feb 2022 Southern Cross celebrates NZ's workforce heroes
January 2022
31 Jan 2022 CCCFA terms released; Bank bosses summoned to Beehive
31 Jan 2022 NZ shares bounce from sell-off
31 Jan 2022 Trade Me property prices reach highest on record
31 Jan 2022 Kiwi Wealth on the block?
31 Jan 2022 [The Wrap] The year of the adviser
30 Jan 2022 Inflation likely to continue - bank economists
30 Jan 2022 AIA appoints high powered board member
28 Jan 2022 NZX 50 index drops below 12,000 points
28 Jan 2022 Southern Cross Healthcare accelerates transformational change
28 Jan 2022 New appointment at RBNZ
28 Jan 2022 Inflation hits 5.9%
27 Jan 2022 Shares fall as inflation heats up
27 Jan 2022 Mike Pero CEO leaves industry
27 Jan 2022 We're borrowing too much: Bagrie
27 Jan 2022 CCCFA bad law but huge growth in credit is the bigger picture
27 Jan 2022 Smartshares first to get investment passport
26 Jan 2022 NZ shares up as Fed meeting looms
26 Jan 2022 CCCFA enquiry might have terms of reference afterall
26 Jan 2022 New lending product coming; From pepper spray to Pepper Money
26 Jan 2022 Financial prudence varies across the country
25 Jan 2022 A2 Milk jumps 6% as market falls
25 Jan 2022 Prospa prospers in NZ and plans new product
25 Jan 2022 Ex British police officer becomes senior manager at Pepper
25 Jan 2022 Nikko sticks with Ark's investment strategy despite hard times
24 Jan 2022 Sharemarket doesn't like NZ's omicron outbreak
24 Jan 2022 No nitpicking from non-bank lender: Inflationary storm coming
24 Jan 2022 Resimac seeks to avoid “nit picking” under CCCFA
24 Jan 2022 Mega landlord claims refuted
24 Jan 2022 Big jump in inflation forecast this week
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.
21 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.
23 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".
3 days ago Paul Flood