GoodReturns
Archive - 2019
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April 2019
24 Apr 2019 AIA and Sovereign close online product
24 Apr 2019 Revealed: Auckland hotspots
24 Apr 2019 With CGT gone, housing market expected to pick up
24 Apr 2019 Investor complains about waived fee
23 Apr 2019 Super Fund gets responsibility nod
23 Apr 2019 NZX50 tops 10,000, growing 284% in past decade
23 Apr 2019 Capital requirements a risk to growth: ANZ
23 Apr 2019 Innocent non-disclosure still a problem: IFSO
23 Apr 2019 Part 2: FSLAB & FADC and what it means for us RFAs
23 Apr 2019 Yield inversion not necessarily omen of recession
18 Apr 2019 [The Wrap] Singing to a New Zealand tune
18 Apr 2019 Sharemarket records 1.8% gain in a week
18 Apr 2019 New flames to fan housing market
18 Apr 2019 Trustees Executors appoints new Head of Wealth Business
18 Apr 2019 Advisers: Govt made right call on capital gains tax
17 Apr 2019 Knock, knock, knocking on the magical 10,000 mark
17 Apr 2019 Ditching CGT a win for common sense
17 Apr 2019 CGT reprieve
17 Apr 2019 KiwiSaver insight
17 Apr 2019 Industry shakeout good for mortgage advisers
17 Apr 2019 Swap keys, save sale costs
17 Apr 2019 Financial Advice NZ: Aim for 3000
16 Apr 2019 Exporters drive sharemarket higher
16 Apr 2019 Super City rental market star
16 Apr 2019 [GRTV] Mint's Rebecca Thomas in studio
16 Apr 2019 I hope you can help me fundraise $20,000 to help mend broken hearts
16 Apr 2019 Low mortgage rates vs CGT
16 Apr 2019 Something a little different today
16 Apr 2019 Risk Parity – Models and Myths
16 Apr 2019 Industry shakeout good for advisers
16 Apr 2019 'If you expect advisers to work for peanuts...'
15 Apr 2019 Investor confidence buoyed on US coy earnings; NZX rises
15 Apr 2019 Rising from the ashes
15 Apr 2019 House sales volumes fall and finance is blamed
15 Apr 2019 nib finds ways to target advisers, post Fidelity deal
15 Apr 2019 Insurers call for replacement business rules in code
15 Apr 2019 Code submissions revealed: Industry wanted change
12 Apr 2019 [The Wrap] A crystal ball look at the new world of advice
12 Apr 2019 NZ shares rise; retirement stocks Metlife, Summerset extend recovery
12 Apr 2019 Downward migration trend halts
12 Apr 2019 Cigna plans OnePath changes
12 Apr 2019 Super Fund, AMP exclude weapons
12 Apr 2019 ANZ loses court bid over Ross files
12 Apr 2019 Auckland sales at lowest since 2008
12 Apr 2019 ANZ goes green with healthy home discount
12 Apr 2019 BNZ finds partner for shared ownership scheme
12 Apr 2019 Financial Advice NZ seeks backers for missing piece of the puzzle
11 Apr 2019 NZ shares snap six-day decline as retirement stocks claw back losses
11 Apr 2019 Resimac takes on banks with big cuts
11 Apr 2019 Hawes' scheme launches more funds
11 Apr 2019 Southern Cross launches AI assistant
11 Apr 2019 Capital gains battle heats up
11 Apr 2019 Changing world, changing property market
11 Apr 2019 FADC case shows RFAs face big challenges under new laws
11 Apr 2019 ESG version of S&P 500 launched
11 Apr 2019 FSLAB gets final tick
10 Apr 2019 Yield stocks loose their lustre
10 Apr 2019 NZ banks could face $21bn capital shortfall
10 Apr 2019 Chief investment officer appointed
10 Apr 2019 Cigna expands into South Island
10 Apr 2019 Booster launches new automated budget building tool
10 Apr 2019 NZ banks could face $21bn capital shortfall
10 Apr 2019 Faafoi: Code 'no surprises'
09 Apr 2019 Retirement stocks under pressure on housing fears
09 Apr 2019 The market for adviser businesses
09 Apr 2019 Insurers' requirement to assess suitability may change adviser landscape
09 Apr 2019 Market Outlook: Records broken
09 Apr 2019 Mortgage rate dance continues; As does the BDM shuffle
09 Apr 2019 Westpac, ANZ, TSB ramp up offers
09 Apr 2019 Falling interest rates change investing landscape
08 Apr 2019 Slowing property market weighs on sharemarket
08 Apr 2019 Capital gains battle heats up
08 Apr 2019 Westpac latest to predict May OCR cut
08 Apr 2019 Mortgage Link appoints new BDM
08 Apr 2019 Policy king hit
08 Apr 2019 Rich Lister backs Stubb's KiwiSaver scheme
05 Apr 2019 NZ shares fall; weak Summerset sales weigh on retirement stocks
05 Apr 2019 General Finance seeing strong interest from UDC investors
05 Apr 2019 General Finance seeing strong interest from UDC investors
05 Apr 2019 AIA donates $100,000 for mental health
05 Apr 2019 Capital rules to have minor impact on interest rates: RBNZ
05 Apr 2019 Here's what MPs said about advisers; Avanti recruits from Link; BNZ cuts
05 Apr 2019 Yields creeping upwards
05 Apr 2019 Avanti targets adviser channel with BDM hire
05 Apr 2019 Green light for new financial advice regime
05 Apr 2019 MPs laud roboadvice, client-first push in FSLAB
05 Apr 2019 Clients still need help with basics: IFSO
04 Apr 2019 Defensive stocks end stellar run
04 Apr 2019 Green light for new financial advice regime
04 Apr 2019 Price war heats up with ASB move
04 Apr 2019 Price war heats up with ASB move
04 Apr 2019 Auckland a “buyers market”
04 Apr 2019 COMMENT: Tax deductibility of rental property upgrades
04 Apr 2019 FSLAB set to pass
03 Apr 2019 Telco boss unexpectedly hangs up and market falls
03 Apr 2019 Realism needed in Auckland market
03 Apr 2019 No excuses now...
03 Apr 2019 FSLAB enters the final straight
03 Apr 2019 Brakes on value growth
03 Apr 2019 Advisers to be offered more help constructing portfolios
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