GoodReturns
Archive - 2023
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February 2023
27 Feb 2023 NZ market drags lower as Michael Hill sparkles
27 Feb 2023 Retail bouncing back in all main centres
27 Feb 2023 Partners Life new Medical Claims systems update
27 Feb 2023 Advisers pleased with shape of CoFI law
24 Feb 2023 NZ market focused on aged-care stocks
24 Feb 2023 CoFI guidelines: What is fair conduct; adviser training and more
24 Feb 2023 [OPINION] What to do when you are not buying property
24 Feb 2023 NZX completes QuayStreet acquisition
24 Feb 2023 Property prices doubled since 2013
24 Feb 2023 Liberty makes two new appointments
24 Feb 2023 Latest movers and shakers; More on new conduct guidelines
23 Feb 2023 Milford CEO to depart
23 Feb 2023 NZ shares edge up as deluge of results hit market
23 Feb 2023 Kiwibank reaches more advisers; OCR rise response; Time is running out
23 Feb 2023 Kiwibank boosts earnings
23 Feb 2023 Mum and dad investors selling
22 Feb 2023 Bluestone gets a new NZ head
22 Feb 2023 NZ's market flat as Ebos impresses market and Spark disappoints
22 Feb 2023 What economists think of the latest OCR hike
22 Feb 2023 [BREAKING NEWS] The RBNZ makes big OCR call
22 Feb 2023 OCR Announcement: What the Reserve Bank said
22 Feb 2023 AIA's new parental leave policy
22 Feb 2023 Record highs for rents and record drops for house prices
22 Feb 2023 Pathfinder gets into bonds - green and orange
22 Feb 2023 Many advisers tied into strict contracts
22 Feb 2023 What’s the choice?
21 Feb 2023 Market responds to 'reporting season show and tell'
21 Feb 2023 First look at new conduct rules for advisers
21 Feb 2023 First clue on how new conduct rules will impact advisers
21 Feb 2023 The benefits of regular home inspections
20 Feb 2023 The axe falls at Kiwi Wealth
20 Feb 2023 NZ shares fall as Ryman completes capital raise bookbuild
20 Feb 2023 nib puts out half- year results
20 Feb 2023 House resale profits slump markedly
19 Feb 2023 AMP profit falls on declining markets
17 Feb 2023 NZ market flat as My Food Bag shares get slammed
17 Feb 2023 Curveball thrown
17 Feb 2023 Holding back OCR wrong response to cyclone - economists
17 Feb 2023 Q4 triage for last year’s KiwiSaver carnage
16 Feb 2023 Skellerup shares dive while delivering record first-half
16 Feb 2023 Calls to pause OCR hikes; New BDM at FMT
16 Feb 2023 Kiwibank says RBNZ should pause OCR hikes
16 Feb 2023 Thrive and survive in year of challenges
16 Feb 2023 First Mortgage Trust appoints new BDM as they continue to grow in the South Island
16 Feb 2023 FMA finalises document for regulatory returns
15 Feb 2023 ASB's numbers are in; What's happening on Feb 28?
15 Feb 2023 Ryman capital raising surprises market amidst earnings season
15 Feb 2023 ASB pushes up its earnings
15 Feb 2023 AIA adds new Vitality Coach
15 Feb 2023 Consensus reached on slight falls in inflation
15 Feb 2023 InvestNow takes aim at Mindful Money
14 Feb 2023 New player says its gaining ground
14 Feb 2023 Vulcan Steel result drives share price plummet
14 Feb 2023 Did you know about CCCFA relief?
14 Feb 2023 Invoice finance firm adds sales manager
14 Feb 2023 House sales plummet to lowest ever
14 Feb 2023 Small CCCFA relief to relief to storm victims
14 Feb 2023 Private market PIE funds coming
14 Feb 2023 MDRT’s two year focus on growth
14 Feb 2023 Rents higher under property managers
14 Feb 2023 Australian rules an “impediment” to giving financial advice – report
13 Feb 2023 10 top tips to survive 2023 (and prosper)
13 Feb 2023 NZ market falls as earnings season kicks off
13 Feb 2023 How landlords can survive the cost of living crisis
12 Feb 2023 New head of Oz equities at Pie
12 Feb 2023 The global inflation bogeyman slips away
10 Feb 2023 NZ King Salmon shares bounce up almost 10%
10 Feb 2023 Property investor comeback not likely for a while
10 Feb 2023 Tenancy Tribunal slices rent increase
10 Feb 2023 Recommending products without expert research - new Code guidance
09 Feb 2023 Take the cash
09 Feb 2023 NZ market doesn't like Mainfreight's update
09 Feb 2023 Selling more insurance in a economic slowdown
09 Feb 2023 Advisers told to make disclosure easy
09 Feb 2023 Not the time for rent freeze calls
09 Feb 2023 Helping to scale the coming interest rate rate cliff
08 Feb 2023 Freightways edges up on ASX-listing plans
08 Feb 2023 Advisers not smothered in red tape: Minister; Resimac's new fixed rates
08 Feb 2023 Financial services not smothered in red tape: new Minister
08 Feb 2023 Construction costs rise expected in wake of floods
08 Feb 2023 Asteron Life delivers "great result'
08 Feb 2023 Will Election 2023 have an impact on property market activity?
08 Feb 2023 Nikko boss to return to the UK
08 Feb 2023 The sad reality of the local benchmarking scene
07 Feb 2023 Earnings season countdown begins as RBA hikes 25 basis points
07 Feb 2023 Resimac says its new fixed rates offer relief for specialist borrowers
07 Feb 2023 Mint appoints head of distribution
07 Feb 2023 Financial advisers told not to rush on CPD credits
03 Feb 2023 Industry must share the blame for CCCFA failures: Minister
03 Feb 2023 New commerce minister blames industry for CCCFA
03 Feb 2023 NZ shares edge up as market positivity continues
03 Feb 2023 Sharesies restructure announced
03 Feb 2023 From the courtroom to the trading floor
03 Feb 2023 Crystal ball gazing into 2023
02 Feb 2023 Home loan rate pricing gets interesting
02 Feb 2023 Slow 2023 start to residential market
02 Feb 2023 NZ dollar jumps almost one US cent following Fed hike
02 Feb 2023 Insurer offers support for customers
02 Feb 2023 Investors are aware of crucial role in climate change but need help
02 Feb 2023 InvestNow pick ‘n mix a value-add opp 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.
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