GoodReturns
Archive - 2008
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January 2008
31 Jan 2008 C+M debenture holders given bad news
31 Jan 2008 Brook's bearish view
31 Jan 2008 Hanover reports cash reserves of $80 mill
31 Jan 2008 Equitable appoints new CEO
30 Jan 2008 Bonds removed from negative credit watch
30 Jan 2008 Book: The Truth About Positive Cashflow Property
29 Jan 2008 An election for property investors
29 Jan 2008 NZers happy with their retirement planning: survey
29 Jan 2008 Bank TD rates fall
29 Jan 2008 Ringfencing property losses on agenda again
28 Jan 2008 Slow progress for mortgage auction site
28 Jan 2008 News Round Up
25 Jan 2008 Rescue plan frustrated
25 Jan 2008 Just the facts please
25 Jan 2008 Another KiwiSaver fee calculator
25 Jan 2008 ING loses top executive
25 Jan 2008 Employers now want KiwiSaver to be compulsory
24 Jan 2008 Bollard leaves interest rates unchanged
24 Jan 2008 OCR announcement
24 Jan 2008 The Official Cash Rate (OCR) will remain unchanged at 8.25%.
24 Jan 2008 Bank five-year rates fall
24 Jan 2008 Organise and litigate: EUFA tells investors
24 Jan 2008 Reading the OCR tea leaves
24 Jan 2008 OCR remains unchanged at 8.25%.
23 Jan 2008 ASB appoints Senior bdm
23 Jan 2008 Fed slashes rate
23 Jan 2008 Harcourts takes over management of Bluechip properties
22 Jan 2008 Doesn't property look safe
22 Jan 2008 Another eventful day for MFS Australia
21 Jan 2008 EUFA Roadshow
21 Jan 2008 Book: Trusts A Kiwi Sham?
21 Jan 2008 News Round Up
21 Jan 2008 Banks only ones to change rates
20 Jan 2008 Rate rise unlikely this week
20 Jan 2008 Not a lot of good news for borrowers
18 Jan 2008 Ombudsman introduces conciliation
18 Jan 2008 Balanced ethical fund launched
18 Jan 2008 ING expands investment team
17 Jan 2008 MFS dumps name, director and calls for trading halt
16 Jan 2008 Rent yields at highest level since Feb
16 Jan 2008 Property market drop might not only be down to holidays
16 Jan 2008 REINZ Residential Highlights – December 2007
16 Jan 2008 KiwiSaver numbers pass 380,000 in first six months
16 Jan 2008 NZX puts FinanceWatch on ice
16 Jan 2008 NZX puts FinanceWatch on ice
15 Jan 2008 Dramatic changes to home loan rates
15 Jan 2008 Bond payment suspended
15 Jan 2008 Fidelity establishes risk manager role
14 Jan 2008 Book: All You Need To Know ABout Buying & Selling Your Home
14 Jan 2008 Short-term rate changes
14 Jan 2008 News Round Up
14 Jan 2008 QV commentary shows Wellington on top
14 Jan 2008 Property values cool further
11 Jan 2008 NZ Super takes alternative view of alternatives
10 Jan 2008 BNZ mortgage market share actually fell
10 Jan 2008 KiwiSaver to kill off state savings schemes
09 Jan 2008 BNZ's mortgage market share surges
09 Jan 2008 MFS extends options to buy NZ assets
08 Jan 2008 MFS reassures investors
08 Jan 2008 Significant slowdown in Auckland housing market
07 Jan 2008 Auckland house prices rise 12% in 2007
07 Jan 2008 Book: Young & Singles Guide to Property Investment
07 Jan 2008 AIG appoints again
07 Jan 2008 New look January issue – available now
07 Jan 2008 News Round Up
07 Jan 2008 Govt regulating brokers
04 Jan 2008 Wellington: Simply Steady
03 Jan 2008 New head of financial sector for AIG
01 Jan 2008 Trading in MFS shares suspended in NZ
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.
7 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.
9 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