GoodReturns
Archive - 2004
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April 2004
26 Apr 2004 Westfield plans massive merger
26 Apr 2004 Purchase price a rip-off, say leaseholders
23 Apr 2004 BNZ ads compliment brokers: NZMBA
22 Apr 2004 Shooting stars and falling stars
22 Apr 2004 New ceo at Approved Mortgage Brokers
22 Apr 2004 AIA April Roadshow
22 Apr 2004 Absolute Capital appoints head of distribution
22 Apr 2004 Morgan taking too hard a line in commissions: Matthews
21 Apr 2004 Tax freedom tipped to take longer
21 Apr 2004 AIA April Roadshow
21 Apr 2004 Officials argued against law change
20 Apr 2004 Lie given to housing slowdown notions
20 Apr 2004 Lie given to housing slowdown notions
20 Apr 2004 AIA April Roadshow
20 Apr 2004 NZ house sales and prices rebound in March
20 Apr 2004 Managed funds boast good returns for the year
20 Apr 2004 MDRT pays tribute to Fidelity's Watson
20 Apr 2004 Tauranga set to get new $8 million commercial property
20 Apr 2004 Modern Portfolio Theory: Investor Fundamentals
20 Apr 2004 Investor interest in Australian property fades
20 Apr 2004 Funds dazzle with returns over 20pc
20 Apr 2004 Learning about shares: Managed funds - the $40 billion question
20 Apr 2004 Agency rates NZ firms' returns
20 Apr 2004 Learning about shares: Few nasty surprises in fixed interest market
20 Apr 2004 Southern branches urged for shareholders' advocacy group
19 Apr 2004 Liontamer: Protecting your client’s investments
19 Apr 2004 Structuring portfolios for good returns
19 Apr 2004 Managed funds boast good returns for the year
19 Apr 2004 AIA April Roadshow
19 Apr 2004 Liontamer fund performance
19 Apr 2004 Adviserlink Investments & Risk Management
19 Apr 2004 Adviserlink Practice Management
19 Apr 2004 Rate falls shortlived
19 Apr 2004 IRD unveils solution to AUT issue
18 Apr 2004 Understanding Fund Performance
18 Apr 2004 Interest rate rise predicted
18 Apr 2004 Annoying taxes lurk in house deals - Mary Holm
18 Apr 2004 Profit rises 5.7pc for PFI
18 Apr 2004 Commercial developers short of Auckland land
18 Apr 2004 Property problems: Suspicious vendor has to prove bad faith
18 Apr 2004 Buoyant housing sector pushes CPI up in March quarter
18 Apr 2004 ARC votes to keep last year's rating system
18 Apr 2004 ARC head explains thinking behind rates system
18 Apr 2004 Rate falls shortlived
18 Apr 2004 IRD unveils solution to AUT issue
17 Apr 2004 65 and counting
17 Apr 2004 Sovereign appoints new national sales manager
16 Apr 2004 2004 MDRT Day
16 Apr 2004 A legal headache - Australia
16 Apr 2004 Gareth Morgan joins SIFA
15 Apr 2004 Strategic Finance makes two new appointments
15 Apr 2004 Gareth Morgan joins SIFA
15 Apr 2004 AMS cracks a billion
15 Apr 2004 Regional house prices play catch up
15 Apr 2004 Leaky Home Insurance Scare
15 Apr 2004 AMS cracks a billion
15 Apr 2004 Arbitrage fund sits on sidelines
14 Apr 2004 NZ Mortgage Brokers Association Regional meetings
14 Apr 2004 Coastal land values threaten Kiwi holiday dream
14 Apr 2004 Britons offered stake in NZ
14 Apr 2004 Housing market under scrutiny
14 Apr 2004 SEA rejects call for 50c offer price
14 Apr 2004 Australia outguns NZ in property market
14 Apr 2004 Estate sale frees industrial area
14 Apr 2004 Property problems: What stays and what goes when tenant quits?
14 Apr 2004 Law to validate securities passed
13 Apr 2004 Aviary turned into bedrooms
13 Apr 2004 Is this as good as it gets?
13 Apr 2004 Report tips new housing growth
13 Apr 2004 Signs Housing Market Is Easing
13 Apr 2004 Regional house prices play catch up
13 Apr 2004 News Round Up
13 Apr 2004 Fund Distributors makes new appointment
09 Apr 2004 Pulling the pin on pay
09 Apr 2004 Better to be safe, but not too safe - Mary Holm
08 Apr 2004 New Zealand retirement system world leader
08 Apr 2004 Urgent need to sort out adviser regulation: Crossan
08 Apr 2004 Urgent need to sort out adviser regulation: Crossan
08 Apr 2004 Waitara leased-land row closer to hearing
08 Apr 2004 Booming market hits property buyers hard
08 Apr 2004 Urgent need to sort out adviser regulation: Crossan
08 Apr 2004 ANZ sets up franchise network in Australia
07 Apr 2004 ANZ sets up franchise network in Australia
07 Apr 2004 Is Super really so hard?
07 Apr 2004 National Superannuation
07 Apr 2004 NZ Mortgage Brokers Association Regional meetings
07 Apr 2004 NZ Mortgage Brokers Association Regional meetings
07 Apr 2004 Closing the Savings Gap: The Role of Retirement Saving
07 Apr 2004 Manager unexpectedly quits new state savings scheme
07 Apr 2004 Manager unexpectedly quits new state savings scheme
07 Apr 2004 High Court Rules On Real Estate Boss
07 Apr 2004 Carr belts property investors - Australia
06 Apr 2004 Hanover Group spawns insurance company
06 Apr 2004 NZ Mortgage Brokers Association Regional meetings
06 Apr 2004 NZ Mortgage Brokers Association Regional meetings
06 Apr 2004 NZ Mortgage Brokers Association Regional meetings
06 Apr 2004 Bonifant joins Loan Society
06 Apr 2004 Ratepayers may be in for a 5% rates rise
06 Apr 2004 Landlord sought in kidnap case
06 Apr 2004 AUT tax changes missing from bill
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
I agree with the "prevalence-induced" concept. It is definitely not Advisers re-defining what we're seeing or over-reacting to the "maturing" of regulation. The concept Steve put forward suggests that as the problem becomes less frequent, the criteria used to define the problem expands, resulting in lesser problems being treated like greater problems. The root of the regulations we have is based in answering questions nobody asked, addressing problems Advisers did not cause. Such as blaming investment advisers for the losses direct investors took from finance company collapses, or allowing lobbyists to succeed in defining BEOT VIOs' sales processes as "advice". So from the beginning - 2011 onwards - there has been so little prevalence of problematic advisers causing terrible outcomes through faulty advice processes that it does appear that the regulators are defining lesser problems as greater. Paul – the “rules” are not rules. Everyone knows what a forward pass is, and we all know that a whiskey still counts as a stroke. Our regulations are mostly principles supported by vague guidance notes. You have correctly pointed out that there has been a lighter touch at times, and perhaps a sledgehammer at other times. To a FAP owner that looks like inconsistency. With no clear safe zone, just vague principles to abide by, and watching patchy and inconsistent enforcement, FAPs have taken an approach to documentation and processes that are now being criticised by the same people who won’t set a bar. But they will say we’re jumping too dam high. “Size it right” is an insulting suggestion from someone who won’t say what the right size is. Recall people like Brent Sheather and Murray Weatherston openly and rightfully questioning what on earth was the problem these regulators and regulations were meant to solve? Recall also their criticism of the revolving door between the regulator and the regulated. If it feels like they are moving the goal posts it’s because they are starting to approach molehills with climbing gear. The hills are the same size. And they were never that big.
18 hours ago agressively passive
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