GoodReturns
Archive - 2004
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May 2004
27 May 2004 Taupo getting full story for the first time
27 May 2004 Strand apartment bid on hold
26 May 2004 Banks pay real estate agents for home loan referrals
26 May 2004 Absolute Capital appoints new head of hedge fund investments
26 May 2004 Tauranga to get two new hotels
26 May 2004 Banks pay real estate agents for home loan referrals
26 May 2004 BNZ campaign putting pressure on margins
26 May 2004 Two arrested after long-running fraud inquiry
26 May 2004 NZ ripe to mimic Australian house price slump: expert
26 May 2004 Research house disagrees with Consumer
25 May 2004 Govt canning six-year superannuation reviews
25 May 2004 Cullen: Why I won't cut taxes
25 May 2004 AXA completes partial shift to India
25 May 2004 Pero shares down after first day of listing
25 May 2004 Budget preview: What's in it for the savings industry?
24 May 2004 Adviserlink Practice Management
24 May 2004 Super Fund appoints small-cap equity managers
24 May 2004 BNZ campaign putting pressure on margins
23 May 2004 News Round Up
23 May 2004 Diplock gets international appointment
23 May 2004 Greens want ethical option in state saving scheme
23 May 2004 First major survey of property investors released
23 May 2004 Property problems: Lease terms the starting point for any dispute
23 May 2004 Capital Gains Tax - Mary Holm
23 May 2004 AMP NZ Office Trust profit up over 9 months
23 May 2004 Trans Tasman looks to the waterfront
23 May 2004 Kiwi Income Property Trust boosts FY profit
23 May 2004 House prices will fall: report
23 May 2004 Alert on coastal 'creep'
23 May 2004 City's house market 'back to normality'
23 May 2004 No tax joy for the rich
23 May 2004 House sales set another new record
23 May 2004 House price slide predicted
23 May 2004 BNZ not only bank to shun brokers
23 May 2004 Mixed messages from the housing market
23 May 2004 RESIDENTIAL PROPERTY MARKET KEEPS PUNDITS GUESSING
21 May 2004 Arm wrestle for NZ Rural Property Trust manager
21 May 2004 BNZ not only bank to shun brokers
20 May 2004 Sovereign fixes prospectus problem
20 May 2004 Learning about shares: Windfalls that flutter
20 May 2004 Learning about shares: Minding your P's and E's
20 May 2004 Aussie banks dip out to Kiwi operations
20 May 2004 AMP Office rental income ticks upward
20 May 2004 Beach apartment bid
20 May 2004 Housing move welcomed
20 May 2004 $4.6m boost for private coalmine
20 May 2004 BNZ appoint new BDM
20 May 2004 Mixed messages from the housing market
20 May 2004 Tower's Bevin takes aim at Morgan
19 May 2004 Annual conference of the Life Brokers Association
18 May 2004 AMP trek north underway
18 May 2004 BT's new ceo named
18 May 2004 Sovereign urges Govt action on adviser regulation
17 May 2004 Colville Equities roadshow
17 May 2004 ING's McClatchy takes on Australian role
17 May 2004 ING CIO takes on Australian role
17 May 2004 Franklin Templeton international equities presentation
17 May 2004 Plan aims to raise standards for its brokers
17 May 2004 Mortgage Alliance to be dissolved
17 May 2004 Mega plan for city DIY store
17 May 2004 Develop Silverdale, not Orewa
17 May 2004 Familiar characters help oldies manage their money
17 May 2004 Punters' pick of the sharemarket
17 May 2004 Plan aims to raise standards for its brokers
15 May 2004 Subsidence damage zones revised
15 May 2004 Estate developer blames wind
15 May 2004 Gore arsons put bite on insurers
15 May 2004 Economist warns property market about to turn
15 May 2004 Are bonds still a good investment?
15 May 2004 Makeover possible for Aussie owned Christchurch mall
15 May 2004 Back to the '70s
15 May 2004 Property problems: Intent determines taxes on property sale profits
15 May 2004 Former chemist cures property ailments
15 May 2004 Urbus to move towards becoming property developer
15 May 2004 Decision in $500,000 commission row
15 May 2004 Migrants faced runaround over failed project
15 May 2004 Firm let out of law suit
15 May 2004 Punters' pick of the sharemarket
15 May 2004 When diving in doesn't pay dividends - Mary Holm
14 May 2004 Commerce Commission member reappointed
14 May 2004 Colville Equities roadshow
14 May 2004 Colville Equities roadshow
14 May 2004 United Future 'delighted' with super group
14 May 2004 Mortgage Alliance to be dissolved
14 May 2004 Sovereign rushes to fix Securities Act breach
13 May 2004 Keith Newton moves to CIGNA
13 May 2004 ISI welcomes working party
13 May 2004 Colville Equities roadshow
13 May 2004 Colville Equities roadshow
13 May 2004 Super group to create generic savings product
13 May 2004 Cullen reinforces his super fund message
13 May 2004 National would raise super to 75
13 May 2004 Rate rise almost certain after jobless rate hits 16-year low
13 May 2004 Urbus Properties almost doubles profit
13 May 2004 SC house sales break all records
13 May 2004 Push for more Shore park land
13 May 2004 All Australian unit trusts to be caught in law change
12 May 2004 Colville Equities roadshow
12 May 2004 Cullen closes AUT loophole
12 May 2004 Colville Equities roadshow
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.
3 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.
3 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.
5 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…
5 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