GoodReturns
Archive - 2017
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February 2017
09 Feb 2017 OCR hike expectations premature
09 Feb 2017 What the RB governor said
08 Feb 2017 Adviser in court
08 Feb 2017 DTIs cost benefit analysis ordered
08 Feb 2017 Socially responsible investing (SRI) - Part One: the thinking behind SRI
08 Feb 2017 FMA warns on AML, won't name and shame
08 Feb 2017 Ponzi scheme alleged
08 Feb 2017 Uncertainty over future RBNZ policy
08 Feb 2017 Questions over future RBNZ policy
08 Feb 2017 Britannia launches new scheme
08 Feb 2017 Rising rent trend nationwide
07 Feb 2017 Reserve Bank Governor not seeking another term
07 Feb 2017 Reserve Bank Governor not seeking another term
07 Feb 2017 Quiet start to 2017
07 Feb 2017 FMA faced conduct criticism
06 Feb 2017 Consilium Platform grows
03 Feb 2017 Quiet start to 2017 for Super City
03 Feb 2017 China's High Stakes Tennis Match
03 Feb 2017 OCR cut not expected
03 Feb 2017 Westpac's turn
03 Feb 2017 Simplicity's growth fund posts early success
03 Feb 2017 Industry stalwart quits
03 Feb 2017 Investing in holiday hot spots
02 Feb 2017 Flipping not what it used to be
02 Feb 2017 Conduct guide not 'one rule for all'
02 Feb 2017 Holiday investments
02 Feb 2017 Floating higher
02 Feb 2017 What will 'Trumpflation' do for you?
02 Feb 2017 NZ needs clearer fintech strategy
01 Feb 2017 Law firm turns peer-to-peer lender
01 Feb 2017 Plus4 welcomes new adviser
01 Feb 2017 Changing of the hot market guard
01 Feb 2017 House prices hit new records
01 Feb 2017 No relief in demand pressures
01 Feb 2017 Super City bucks trend
01 Feb 2017 Hunter Hall International says it's 'business as usual'
January 2017
31 Jan 2017 No relief in demand pressures
31 Jan 2017 Quiet on the investor lending front
31 Jan 2017 Changes today
30 Jan 2017 Financial Advice NZ forums to tackle details
27 Jan 2017 Demand for planning change
27 Jan 2017 FAA review number two on new Minister's list
27 Jan 2017 Navigating shaky ground
27 Jan 2017 Navigating shaky ground
26 Jan 2017 Partners gets a new chairman
26 Jan 2017 Demand for planning change
26 Jan 2017 Govt deadline for earthquake risk masonry repair
26 Jan 2017 No quick solution to housing boom
26 Jan 2017 Client-first may be too big an ask for biggest players
25 Jan 2017 Lawyer converts lending business
25 Jan 2017 Setting trauma sums insured
25 Jan 2017 Subsidy boosts don’t mean rent hikes
25 Jan 2017 More hikes on the heel of recent ones
24 Jan 2017 OCR hike to come - later
24 Jan 2017 Supply is key to boom end
24 Jan 2017 $50 million fills new PIE Fund
24 Jan 2017 New addition to the Partners team
23 Jan 2017 Fidelity appoints chief customer officer
23 Jan 2017 Fixed income losses painful
23 Jan 2017 A pleasant surprise
23 Jan 2017 Super City affordability slides further
20 Jan 2017 Slow building consent trend concerning
20 Jan 2017 Before you renovate
19 Jan 2017 Slowing consent trend a concern
19 Jan 2017 AMP's Jack Regan reflects on 10 years at the helm
19 Jan 2017 The big one goes
18 Jan 2017 More Auckland apartments needed
18 Jan 2017 The Co-operative Bank ups floating and fixed
18 Jan 2017 The top five professions this year
17 Jan 2017 ANZ rings in new leadership changes
17 Jan 2017 Declining sales, subdued market
17 Jan 2017 Declining sales, subdued market
16 Jan 2017 New general manager for Aegis
16 Jan 2017 Capital rental market booming
16 Jan 2017 Aegis boss moves to Sovereign role
16 Jan 2017 Aegis loses $375 mill to new platform
16 Jan 2017 One little change
16 Jan 2017 Pathfinder to screen its Water Fund for nasties
13 Jan 2017 Westpac increases fixed rates. See changes
13 Jan 2017 Regional market in spotlight
13 Jan 2017 The great Central Bank unwind
13 Jan 2017 What to expect from the housing market in 2017
13 Jan 2017 Taking control of the budget
12 Jan 2017 Regions fire up as Auckland cools
12 Jan 2017 UDC gets downgraded on sale news
12 Jan 2017 Further lending restrictions 'not needed'
12 Jan 2017 UDC gets downgraded on sale news
11 Jan 2017 No more lending restrictions needed
11 Jan 2017 ANZ sells UDC Finance
11 Jan 2017 ANZ sells UDC Finance
11 Jan 2017 ..and today it is BNZ's turn to increase rates
11 Jan 2017 LVRs continue to bite – QV
11 Jan 2017 NZ QROPS offered in Australia
10 Jan 2017 Tread carefully with building products
10 Jan 2017 Kiwibank next to move rates
10 Jan 2017 ASIC loses case against LM Investment managers
09 Jan 2017 ASB moves all fixed rates higher
09 Jan 2017 International planning firm to open Auckland office
09 Jan 2017 Super City prices plateau
06 Jan 2017 ASB and Bank Direct hike all fixed rates
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.
9 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.
11 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