GoodReturns
Archive - 2013
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January 2013
29 Jan 2013 Government questions RFAs' professionalism
29 Jan 2013 Emerging markets offer challenge, opportunity
29 Jan 2013 Tripe: Banks exposed
29 Jan 2013 OCR predictions for this week
29 Jan 2013 OCR to move this year: Economists
29 Jan 2013 Schemes benefit a lucky few
28 Jan 2013 RFA irked by CPD ‘scaremongering’
28 Jan 2013 The bittersweet experience of discovering a claim
28 Jan 2013 Shearer: No $300k houses in Auckland
25 Jan 2013 New job for ex-Tower Health boss
25 Jan 2013 Anderson a leader in insurance space
25 Jan 2013 [Weekly wrap] Conference controversy
25 Jan 2013 Is profit part of CPD?
25 Jan 2013 Greens' scheme slammed
25 Jan 2013 Rising rents next on politicians' agenda
24 Jan 2013 Integration creates insurance-specific CRM
24 Jan 2013 BNZ scheme may bring bank sales issue to a head
24 Jan 2013 IFA conference planning criticised
24 Jan 2013 Housing market heat infectious: ANZ
24 Jan 2013 Green Party calls for stricter tenancy laws
23 Jan 2013 Emerging markets show long-term gain
23 Jan 2013 Market surge sparks bubble warning
23 Jan 2013 Forex broker charged
23 Jan 2013 High-profile courses cancelled
23 Jan 2013 Humiliation for Heatley
22 Jan 2013 Bumper year for KiwiSaver growth funds
22 Jan 2013 Sovereign gets a new CEO
22 Jan 2013 BNZ registers KiwiSaver scheme
22 Jan 2013 Westpac special but no cash back
22 Jan 2013 Regulation prepares advisers for ‘new normal’
22 Jan 2013 Council heralds construction lift
22 Jan 2013 Heatley loses Housing
21 Jan 2013 Crown funds at their limit with NZ shares
21 Jan 2013 Two biggest broker groups to join
21 Jan 2013 The first rates changes of 2013 and a merger
21 Jan 2013 Government predicts house price boom
21 Jan 2013 Capital gains tax support: Poll
18 Jan 2013 ASB pushes out date for OCR increase
18 Jan 2013 Advisers (and Accuro) love animals
18 Jan 2013 Six in a row for Sovereign
18 Jan 2013 Cynicism towards fund research misplaced
18 Jan 2013 [Weekly Wrap] Clarity needed
18 Jan 2013 Cigna boss takes on international role
18 Jan 2013 Looking back 20 years
18 Jan 2013 Mortgage approvals at 2009 levels
18 Jan 2013 CVs no price guide: Newland
18 Jan 2013 Price rises to become sharper: Alexander
17 Jan 2013 TOWER Life sale rumours increase
17 Jan 2013 NZ managers: Hands off the printing presses
17 Jan 2013 FMA considering guidance on low-end advice
17 Jan 2013 Ex-Fisher CIO launches KiwiSaver scheme
17 Jan 2013 Lifestyle sales hit five-year high
16 Jan 2013 Property a productive investment: Newland
16 Jan 2013 HNZ 'referring clients to Salvation Army'
15 Jan 2013 Second AFA loses licence
15 Jan 2013 Muldoon’s legacy still haunting advisers
15 Jan 2013 In the absence of openness, assume the worst
15 Jan 2013 Short-term interest rates looking good
15 Jan 2013 Auctions big news of 2012: REINZ
14 Jan 2013 Small adviser documents ‘realistic’
14 Jan 2013 Newland slams Trade Me stats
14 Jan 2013 Rental listings up, interest down: Trade Me
11 Jan 2013 Harbour Monthly Commentary: Stronger global growth signals
11 Jan 2013 Advisers need to escape regulation bubble
11 Jan 2013 Listings restrain growth: Bayleys
10 Jan 2013 New code of conduct
10 Jan 2013 House prices up as Auckland leads the way
10 Jan 2013 Stock picking beyond most AFAs
10 Jan 2013 200 properties on market since before 2008
09 Jan 2013 A dubious first for David Ross
09 Jan 2013 The AFA without products
09 Jan 2013 Building consents trend up
09 Jan 2013 Meetings on seismic policy
08 Jan 2013 Bank expects action on the housing boom this year
08 Jan 2013 The Brook Income Fund
08 Jan 2013 Brook: Lights dimming on our “bright fibre future”
08 Jan 2013 What advisers want to see in 2013
08 Jan 2013 Listings lag despite price rise: Barfoot
08 Jan 2013 Bach sales a barometer for economy
07 Jan 2013 Tyndall Monthly Commentary: The expectations gap
07 Jan 2013 Third piece of Pie due in April
07 Jan 2013 Big moves unlikely in deposit rates
07 Jan 2013 Insurance advisers warned against cancellation cash grabs
07 Jan 2013 No summer slowdown in real estate market
04 Jan 2013 Coffee cup cure for economy
04 Jan 2013 Dearth of listings in Auckland: Report
04 Jan 2013 Value of KiwiSaver first-home boost revealed
03 Jan 2013 Perpetual on verge of becoming trans-Tasman business
03 Jan 2013 Smaller profit in small homes: Colliers
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