GoodReturns
Archive - 2018
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April 2018
04 Apr 2018 Inflation erodes growth and confuses the outlook
04 Apr 2018 Latest house prices; TSB gets sharp; Last call
04 Apr 2018 Regions outshine main centres
03 Apr 2018 New chair for FSCL
03 Apr 2018 nib joins up with FSC
03 Apr 2018 Synergy adds portfolios
03 Apr 2018 [Opinion] Four simple steps to a new code
03 Apr 2018 Wide variation in stress testing thresholds
03 Apr 2018 More property tax changes coming
03 Apr 2018 South Auckland growth imminent
03 Apr 2018 Adviser pays $30k after relationship 'breaks down'
02 Apr 2018 Rabo's fund man follows the money
02 Apr 2018 CWG on a 'witch hunt
02 Apr 2018 Smartshares offers new KiwiSaver fee solution
March 2018
29 Mar 2018 Bank of China gains New Zealand branch license
29 Mar 2018 No more negative gearing
29 Mar 2018 Fisher Funds adds a new portfolio manager
29 Mar 2018 Auckland densification boosts consents
29 Mar 2018 Brightline test extended; Property investors a little more active
29 Mar 2018 Online solutions aid compliance
28 Mar 2018 Gong for KiwiWealth
28 Mar 2018 Churn battle: Ballantyne v Everitt
28 Mar 2018 CGT by stealth
28 Mar 2018 ANZ investments head stepping down
28 Mar 2018 The problem with interest-only; CWG feedback wanted
28 Mar 2018 Ballantyne responds to FMA churn report
28 Mar 2018 Asteron Life gives advisers SME boost
28 Mar 2018 Rethink letting fees ban
28 Mar 2018 Education providers: Proposals a backwards step
28 Mar 2018 Advisers: Fee move will make little difference
27 Mar 2018 Facebook removed from ethical ETF
27 Mar 2018 LVR changes impact on lending
27 Mar 2018 Private equity, not govt mandates, KiwiSaver's future: Managers
27 Mar 2018 Advisers face interest-only lending restrictions
26 Mar 2018 KPMG: Small banks growing loan books at quicker rate
26 Mar 2018 [Opinion] Serious concerns over Code Working Group behaviour
26 Mar 2018 No need to fear RBNZ’s new PTA
26 Mar 2018 Rents soar in the Super City
26 Mar 2018 Is active investment management the solution to navigating technological disruption?
26 Mar 2018 Pluses and minuses from Kiwibank
26 Mar 2018 Commercial outlook 2018
26 Mar 2018 [GRTV] Feel the fear and do it anyway
26 Mar 2018 AMP announces changes at top
26 Mar 2018 Roboadvice changes open door to new KiwiSaver player
23 Mar 2018 Adviser sentenced for Ponzi
23 Mar 2018 Auckland unattractive to investors - ANZ
23 Mar 2018 'Not all advisers churning'
22 Mar 2018 Letting fees to go
22 Mar 2018 FMA: We're putting life advisers on notice
22 Mar 2018 Spirit of caution in OCR call
22 Mar 2018 Russell Investments: Change needed, and now
22 Mar 2018 What the RBNZ governor said today
22 Mar 2018 Why OCR left unchanged; BNZ slashes fees
22 Mar 2018 Insurers: Disclosure rules should help clients
21 Mar 2018 BNZ slashes mortgage fees
21 Mar 2018 Finding the value of a financial planning business
21 Mar 2018 Chief executive to stand aside
21 Mar 2018 Affordable housing in Auckland now doable
21 Mar 2018 NZ Super Fund appointee joins Fidelity Life Board
21 Mar 2018 Drop off in migration flows
21 Mar 2018 NZ annuities market will grow: Challenger
21 Mar 2018 BNZ moves; Mortgage adviser survey
21 Mar 2018 Values soar but options remain
21 Mar 2018 Code proposals show product provider influence: Tate
20 Mar 2018 UDC IPO considered
20 Mar 2018 Brighter price outlook - Colliers
20 Mar 2018 Sound corporate governance is good, but management alignment is better
20 Mar 2018 Question: Can you define what you do?
20 Mar 2018 No room for stock-pickers: Vanguard
19 Mar 2018 Westpac expects government policy to "cool" housing market and GDP
19 Mar 2018 Southern Cross joins the movement to help Kiwis Choose Wisely
19 Mar 2018 Auckland’s hottest suburbs
19 Mar 2018 It's OCR week. What will happen?
19 Mar 2018 Gail Costa returns to NZ role
19 Mar 2018 Sorted for retirement
19 Mar 2018 Tax breaks needed to boost savings: Milford
16 Mar 2018 Fidelity Life powers up income protection
16 Mar 2018 Iwi ink health insurance deal with nib
16 Mar 2018 Broker pleads guilty
16 Mar 2018 OCR call takes backseat
16 Mar 2018 Rental property lure for first home buyers
16 Mar 2018 NZ Funds CEO stepping down
15 Mar 2018 Shake-up coming for RFA insurance advisers
14 Mar 2018 NZCU Baywide revamps banking system
14 Mar 2018 ANZ signs responsible investment pledge
14 Mar 2018 Acting RBNZ Governor reignites DTI ratio debate
14 Mar 2018 Prices, sales bounce up - REINZ
14 Mar 2018 Acting RBNZ Governor reignites DTI ratio debate
14 Mar 2018 Flight to big providers 'possible unintended consequence'
13 Mar 2018 Momentum Life issued life insurance licence in New Zealand
13 Mar 2018 Taskforce must maintain momentum
13 Mar 2018 Code working group reveals proposals
12 Mar 2018 FMA warns on AML
12 Mar 2018 Kiwibank cuts Special only
12 Mar 2018 To buy or to build?
12 Mar 2018 Appeal Court sides with FSCL
09 Mar 2018 Shock awaits for tax avoiders
09 Mar 2018 Kiwibank changes its OCR forecast
09 Mar 2018 Trustees Executors moves to Consilium platform
09 Mar 2018 Pathfinder eyes carbon risk
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.
22 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.
1 day 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.
3 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…
3 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