GoodReturns
Archive - 2018
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February 2018
12 Feb 2018 How to run an effective approved provider list in 5 steps
09 Feb 2018 ETF gets big boost
09 Feb 2018 Prison sentence for mortgage fraudster
09 Feb 2018 Trustees Executors shareholders bought out
09 Feb 2018 Vested outsourcing - How outsourcing is meant to be
09 Feb 2018 SuperCity values on the rise
09 Feb 2018 BNZ puts out competitive one-year rate
09 Feb 2018 Market wobble highlights value of advice
08 Feb 2018 Share appoints advisers
08 Feb 2018 Low interest rates set to continue
08 Feb 2018 What the Reserve Bank said today
08 Feb 2018 OCR unchanged: The Reserve Bank has spoken
08 Feb 2018 Adviser numbers could drop 50%: Moore
08 Feb 2018 CFP numbers grow
07 Feb 2018 MPM appoints new sales manager
07 Feb 2018 Magellan buys a fund manager
07 Feb 2018 Westpac shaves one-year rate
07 Feb 2018 Financial Advice NZ clarifies priorities
07 Feb 2018 Markets wobble - what next?
07 Feb 2018 Reassessing Capital rental squeeze
05 Feb 2018 Will the OCR move this week? Check out what economists think
05 Feb 2018 Slow start for Auckland
05 Feb 2018 Hot in Queenstown
05 Feb 2018 Advisers have role to boost confidence
02 Feb 2018 OCR holding pattern to continue
02 Feb 2018 Slow, halting growth path for consents
02 Feb 2018 Getting to Know: Trevor Slater
02 Feb 2018 Migration tide continues to turn
02 Feb 2018 Rethinking retirement assumptions
01 Feb 2018 F&P stops deposits
01 Feb 2018 AMP changes outlook
01 Feb 2018 No go for rent controls
01 Feb 2018 BNZ changes adviser commission model
01 Feb 2018 Cooler days for former hot spots
01 Feb 2018 Time's up for admin fees: Morningstar
01 Feb 2018 BNZ move puts pressure on other banks
January 2018
31 Jan 2018 Rental squeeze to intensify
31 Jan 2018 Investor loans low; AI arrives for a mortgage adviser
31 Jan 2018 OCR increase pushed out
31 Jan 2018 FMA has eye on conflicted conduct
31 Jan 2018 Insurance bosses poorly prepared for change: Naylor
30 Jan 2018 Advisers to get development guidance
30 Jan 2018 New low for investor mortgage share
30 Jan 2018 Client-first rule softened - why?
29 Jan 2018 Making the right call
26 Jan 2018 Sovereign appoints tech boss
26 Jan 2018 Falling affordability the norm
26 Jan 2018 Ups and downs from ASB today
26 Jan 2018 New Zealand values most stretched in world
25 Jan 2018 Auckland property gains halved in two years
25 Jan 2018 The Co-operative Bank trims one-year rates
25 Jan 2018 Advisers told: Don't ignore crypto
24 Jan 2018 Loss making sales on the rise
24 Jan 2018 Options emerge for licence-averse advisers
23 Jan 2018 Guilty plea from mortgage fraudster
23 Jan 2018 What advisers want from Financial Advice NZ
23 Jan 2018 The 10 best ways to compete with the big end of town
23 Jan 2018 Big questions for 2018
23 Jan 2018 [Obituary] Mark Frecklington
23 Jan 2018 Exemption grows under FSLAB
22 Jan 2018 Roboadvice on horizon
22 Jan 2018 Supply answer to affordability problem
22 Jan 2018 The first rate change for the year
22 Jan 2018 Make $$$$ from extra space
22 Jan 2018 'Business as usual' despite correction fears
19 Jan 2018 Getting to Know: Mary Potter
19 Jan 2018 NZ average on disclosure
19 Jan 2018 Insurers: Robo won't replace advisers
19 Jan 2018 Investor confidence slumps
19 Jan 2018 KiwiSaver 'shouldn't be only scheme with perks'
18 Jan 2018 Southern Cross launches gender-inclusive application
18 Jan 2018 New portfolio manager for Pie Funds
18 Jan 2018 House prices pick up, but volumes low
18 Jan 2018 Housing market picks up, but not everywhere
18 Jan 2018 Little relief for buyers - REINZ
18 Jan 2018 Client first 'means responsible investment'
17 Jan 2018 10 Ross investors in liquidator sights
17 Jan 2018 Giving mortgage advisers a voice
17 Jan 2018 Landlords: don’t overlook smoke alarms
17 Jan 2018 No safe harbour for new advisers
16 Jan 2018 Reckless damage by tenants not intentional
16 Jan 2018 2018 'looking good for Asia'
16 Jan 2018 Stock picking and the art of motorcycle maintenance
16 Jan 2018 New lending manager
16 Jan 2018 Perennial position redundant
16 Jan 2018 Advice force changes: Hunters out, farmers in
15 Jan 2018 Shariah funds shine
15 Jan 2018 RESIMAC appoints new lending manager
15 Jan 2018 Non-bank lender changes hands
15 Jan 2018 Year of the yield
15 Jan 2018 Stakeholders urged to submit on bill
12 Jan 2018 Investors die waiting
12 Jan 2018 15 year high for Auckland consents
12 Jan 2018 Reducing pet rental risks
12 Jan 2018 Don't worry, stay invested
11 Jan 2018 FMA scam warning
11 Jan 2018 Insurers collaborate on fintech
11 Jan 2018 Slow growth trend takes hold
11 Jan 2018 Squeeze on financial recruitment
10 Jan 2018 Healthy homes in everyone’s interest - APIA
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.
7 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.
10 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