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Archive - 2010
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February 2010
24 Feb 2010 Morningstar questions Huljich in latest survey
23 Feb 2010 Meaty chunks off the table
23 Feb 2010 Numbers on the up, says Harcourts
23 Feb 2010 Mercer appoints new MD from within ranks
23 Feb 2010 Housing confidence still upbeat
23 Feb 2010 Taskforce recommendations for industry as well as Govt
23 Feb 2010 Geneva considers its future - again
22 Feb 2010 Housing market hits wobbles
22 Feb 2010 CU Baywide starts the week off
22 Feb 2010 Adviserlink appoints general manager
22 Feb 2010 News round-up
20 Feb 2010 Two tax changes property investors could live with
19 Feb 2010 [Weekly Wrap] How does Huljich's pricing strategy work?
19 Feb 2010 Trade Me sees record property browsers
19 Feb 2010 House prices set to fall in cooling market: ANZ
19 Feb 2010 Kiwibank's profit dives 40% but mortgage book surges in Dec Qtr
19 Feb 2010 Southern Cross launches Critical Illness Plan
19 Feb 2010 Taking a moment to pause
19 Feb 2010 In bricks and mortar we (will still) trust
19 Feb 2010 The fall of the floating rate
19 Feb 2010 Huljich corrects KiwiSaver performance numbers
19 Feb 2010 Govt may widen range of debt securities
18 Feb 2010 Marac gets two new directors
18 Feb 2010 AXA NZ insurance earnings fall by a fifth
18 Feb 2010 TNP opens school for advisers
18 Feb 2010 IFA seeks exemption from training requirements
18 Feb 2010 SBS lowers floating rate
18 Feb 2010 Small finance companies likely to be forced out: KPMG
17 Feb 2010 S&P dishes out another three ratings
17 Feb 2010 Actively managed fixed interest way to go: PIMCO
16 Feb 2010 RBNZ’s liquidity measures no problem for SCF: Maier
16 Feb 2010 Direct debit story
16 Feb 2010 Help provided to change banks
16 Feb 2010 12th Annual Contract Performance Management Summit
16 Feb 2010 2010 Recovery?
16 Feb 2010 Pitch to tie advisers to QFEs inevitable say IFA, SIFA
16 Feb 2010 Low number of bad loans make it to mortgagee sale
15 Feb 2010 Bridgecorp directors front up in court
15 Feb 2010 A 2010 recovery?
15 Feb 2010 ASB's surprise move
15 Feb 2010 News round-up
14 Feb 2010 Rates Round Up
12 Feb 2010 Sharon Kent approved as Licensed Operator
12 Feb 2010 Brugh appointed as Macquarie investment adviser
12 Feb 2010 Kiwibank makes everyone take notice
12 Feb 2010 ING Roadshow February 2010
12 Feb 2010 [Weekly Wrap] More movers and shakers
12 Feb 2010 Be still my beating heart
12 Feb 2010 The big question around a possible GST rise to 15%
12 Feb 2010 House sales lowest in two decades
12 Feb 2010 Market Review: February 2010 London Commentary
12 Feb 2010 REINZ residential highlights - January 2010
12 Feb 2010 Botherway quits DNZ board
12 Feb 2010 TSB follows Kiwibank
12 Feb 2010 Failed finance companies net PwC more than $10mill
11 Feb 2010 Strategic Finance mulling the Hanover route as receivership threat loo
11 Feb 2010 Falling house sales may indicate faltering economy
11 Feb 2010 ING Roadshow February 2010
11 Feb 2010 No change today
11 Feb 2010 Industry engagement helping the regulatory process: Mayhew
10 Feb 2010 AMP dominates KiwiSaver performance
10 Feb 2010 South Canterbury Finance faces billion dollar liquidity risk
10 Feb 2010 ING Roadshow February 2010
10 Feb 2010 Where to from here?
10 Feb 2010 Deutsche Bank looks set to take stake in Craigs
10 Feb 2010 HSBC slashes five year rate
09 Feb 2010 New manager snares mandates worth $225m
09 Feb 2010 Key’s silence on depreciation indicates it’s a focus
09 Feb 2010 KiwiSaver Performance Survey
09 Feb 2010 AXA encourages advisers to sell insurance before prices rise
09 Feb 2010 Key kicks for touch on property tax
09 Feb 2010 NZMBA develops new process for brokers
09 Feb 2010 Unemployment figures point to a June OCR hike
09 Feb 2010 New AXA owners have no reason to shake it up: Stewart
09 Feb 2010 Why Kiwibank cut
08 Feb 2010 Kiwibank blazing the trail for floating rates
08 Feb 2010 Kiwibank cut floating
08 Feb 2010 The sooner the guarantee goes the better
08 Feb 2010 News Round Up
08 Feb 2010 Rates Round Up
08 Feb 2010 House values rise last month in 'patchy' market: QV
08 Feb 2010 Residential highlights - January 2010
05 Feb 2010 Tax changes robust enough?
05 Feb 2010 Tyndall looking to add more retail funds
05 Feb 2010 SBS latest to increase rates
04 Feb 2010 Equitable investors shift into debentures
04 Feb 2010 Auckland house prices fall, amidst still declining sales
04 Feb 2010 Proposed tax changes will hurt listed commercial investors
04 Feb 2010 One-year rates, one year on
04 Feb 2010 Open Polytechnic offers financial services training from afar
03 Feb 2010 Reserve Bank fuels deposit war: PwC
03 Feb 2010 Westpac ups one-year rates
03 Feb 2010 SCF says impairments lead to first-half loss
03 Feb 2010 Opinion: Have you ever wondered?
03 Feb 2010 KiwiBank to fill out insurance offering
03 Feb 2010 Super fund invests in catastrophe bonds
03 Feb 2010 RBA leaves cash rate at 3.75%
02 Feb 2010 Bank adviser pleads guilty to $18m fraud charges
02 Feb 2010 Economists debate meaty chunks comment
02 Feb 2010 Reserve Bank considers liquidity controls for non-bank deposit takers
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.
11 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.
13 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