GoodReturns
Archive - 2020
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March 2020
07 Mar 2020 [The Wrap] Many advisers putting their businesses at risk
07 Mar 2020 UPDATED: Newpark loses second CEO
06 Mar 2020 NZ shares fall; virus fears heighten volatility
06 Mar 2020 Westpac makes big cuts
06 Mar 2020 Kepa appoints professional standards role
06 Mar 2020 Failure to lodge bonds earns major penalty
06 Mar 2020 Crunching the numbers
06 Mar 2020 New look Fidelity Life
06 Mar 2020 Will mortgage rates fall much further?
05 Mar 2020 More growth for co-working office space
05 Mar 2020 Heartland goes direct to customers with 2.89% mortgage
05 Mar 2020 Heartland goes direct to customers with 2.89% mortgage
05 Mar 2020 Heartland trials digital mortgage product
05 Mar 2020 300 FAP applications – FMA 'not worried'
04 Mar 2020 Utilities buoy sharemarket
04 Mar 2020 SuperCity sales soar up
04 Mar 2020 Turnaround times worsen; Housing NZ Corporation rate changes
04 Mar 2020 Managers grapple with Covid-19 disruption
04 Mar 2020 Values escape coronavirus contagion
03 Mar 2020 Six-day losing streak ends as central banks begin to act
03 Mar 2020 Turnaround times worsen
03 Mar 2020 Partners life changes may not be big enough
03 Mar 2020 Asteron makes changes to support advisers
03 Mar 2020 Tight lending concerns; ANZ pays out
03 Mar 2020 Survey reveals tight lending concerns
03 Mar 2020 The investment sidecar – why every KiwiSaver member needs one
03 Mar 2020 On the brink of a crisis
02 Mar 2020 FSC questions fossil fuels decision
02 Mar 2020 Simplicity trims fees
02 Mar 2020 NZ shares fall for sixth day as virus fears escalate
02 Mar 2020 ANZ pays $29.4 million over faulty loan calculator
02 Mar 2020 Removal of no-cause notice opposed by 45% of tenants
02 Mar 2020 Drop the quarter-acre dream to address supply shortage
02 Mar 2020 Coronavirus will lead to OCR cut this month: ANZ
02 Mar 2020 Coronavirus will lead to OCR cut this month: ANZ
02 Mar 2020 Balanced 'simpler' approach, minister says
02 Mar 2020 COMMENT: Act against radical tenancy changes
01 Mar 2020 Conservative funds out for default KiwiSaver; Fossil fuels banned
February 2020
28 Feb 2020 Companies take a hit a coronavirus fears spread
28 Feb 2020 [The Wrap] Generate hack a wake up call to all
28 Feb 2020 Nikko gets one back and adds another
28 Feb 2020 [UPDATED] Partners Life changes to shake the market
28 Feb 2020 Record January lending; Prospa plans extra NZ funding
28 Feb 2020 Listing next step for Stewart's variable annuity business
28 Feb 2020 Manawatu on the move
27 Feb 2020 Public Trust appoints directors
27 Feb 2020 Investors sell down energy stocks
27 Feb 2020 Record January home lending
27 Feb 2020 Propsa plans extra NZ funding
27 Feb 2020 Housing market boom won't last long
26 Feb 2020 Kiwi market ranked fourth over 120 years
26 Feb 2020 Wealthpoint hires compliance expertise
26 Feb 2020 Pandemic fears drive NZ shares lower for a second day consecutive day
26 Feb 2020 Tenancy reform submissions due March 25
26 Feb 2020 Housing market boom won't last long: Westpac
26 Feb 2020 The cost of overstaying tenants
26 Feb 2020 Reforms pile pressure on landlords; Mike Pero hires
26 Feb 2020 Three new hires at Mike Pero Mortgages
26 Feb 2020 Tax change to boost listed funds
25 Feb 2020 NZ shares fall as the risk of global pandemic rises
25 Feb 2020 [GRTV] Time to change debate on replacement business
25 Feb 2020 Peer-to-peer lending up at Southern Cross
25 Feb 2020 How active is your KiwiSaver manager?
25 Feb 2020 Inland Revenue outlines GST plan
25 Feb 2020 Putting the case for income protection
24 Feb 2020 NZ shares tank following sudden spread of covid-19
24 Feb 2020 Nothing to worry about AMP Life says
24 Feb 2020 RTA reforms pile pressure on landlords
24 Feb 2020 Southern Cross loan book nears $225 million
24 Feb 2020 Boielle takes on expanded role at Southern Cross
24 Feb 2020 Regions lead the price growth pack
24 Feb 2020 nib reports local profit lift as group fortunes fall
24 Feb 2020 Kiwibank to enter adviser market
24 Feb 2020 [GRTV] Sam Dickie's 2020 outlook
24 Feb 2020 Kiwibank set to enter adviser market
22 Feb 2020 [GRTV] Time to change debate on replacement business
21 Feb 2020 [The Wrap] Regulators need to be wary of AMP Life deal
21 Feb 2020 Earnings season rewards investors
21 Feb 2020 Kiwibank lending rises, profit falls
21 Feb 2020 What will happen to insurance premiums under the new regime?
21 Feb 2020 What will happen to insurance premiums under the new regime?
21 Feb 2020 NZ Super Fund: Some coronavirus losses will be recovered, others gone for good
21 Feb 2020 Full steam ahead for tenancy reforms
20 Feb 2020 NZX50 cracks 12,000 first time ever; Ebos, Auckland Airport earnings lift market
20 Feb 2020 Charges laid against Kloogh
20 Feb 2020 The new face of the NZPIF
20 Feb 2020 Generate offers compensation
19 Feb 2020 Active comes out on top in FMA debate
19 Feb 2020 Fletcher and Spark earnings settle investors
19 Feb 2020 Providers disagree on active advantage for responsible investment
19 Feb 2020 When will mortgage wars end?
19 Feb 2020 FMA debate: Passive v Active
19 Feb 2020 Heartland launches reverse mortgages for investors
19 Feb 2020 Heartland offers reverse mortgages to investors; new ANZ retail boss
19 Feb 2020 New, higher rate on interest and dividend tax
19 Feb 2020 ANZ appoints new retail boss
18 Feb 2020 The cost of running a one-person FAP revealed
18 Feb 2020 Insurers tweak discount offers
18 Feb 2020 Fisher Funds adds experienced faces
18 Feb 2020 Heartland highlight in NZ shares reporting season
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".
4 days ago Paul Flood