GoodReturns
Archive - 2019
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February 2019
08 Feb 2019 Advisers stepping in where Govt scheme lacking
08 Feb 2019 Advisers taking lead on complaints processes
08 Feb 2019 Long-time adviser loses battle with leukemia
07 Feb 2019 NZ shares gain as prospect of rate cut stokes demand for yield stocks
07 Feb 2019 Altered landscape for investors
07 Feb 2019 AMP rings changes
07 Feb 2019 How Australia’s Royal Commission could affect NZ investors
07 Feb 2019 Bull market's last charge
07 Feb 2019 Level premiums for life among Asteron changes
05 Feb 2019 Bank shares rally after let off from Royal Commission
05 Feb 2019 FE faces rating downgrade
05 Feb 2019 NZ advisers hit out at Royal Commission
05 Feb 2019 Harbour's View: What the Australian Royal Commission means for the industry
05 Feb 2019 Australia to ban trail commission
05 Feb 2019 RBNZ banking rules shaping credit markets
05 Feb 2019 Super City sales up, prices down
05 Feb 2019 Trustees Executors appointment affirms private wealth commitment
05 Feb 2019 What do you think about the Royal Commission report? One rate change
05 Feb 2019 Royal Commission slams Australian banks
04 Feb 2019 Royal Commission calls for adviser remuneration overhaul
04 Feb 2019 Australian banking report spooks investors
04 Feb 2019 KiwiSaver funds suffer under market volatility
04 Feb 2019 From ANZ to BNZ
04 Feb 2019 Consents reach peak level
04 Feb 2019 First Mortgage Trust confirms Capital Group deal
04 Feb 2019 Insurance conduct report shows lack of understanding: Adviser
04 Feb 2019 Harbourside metropolis
04 Feb 2019 Code still due in coming months
01 Feb 2019 [The Wrap] Regulators say they are not trying to demonise life insurance
01 Feb 2019 NZ shares edge up ahead of earnings season; Air NZ at 3-month low
01 Feb 2019 Capital Group takes control of First Mortgage Trust
01 Feb 2019 Tax Working Group report filed; but we have to wait to see it
01 Feb 2019 Royal Commission files its report
01 Feb 2019 Legg Mason Brandywine Global Fund tops the ratings in NZ
01 Feb 2019 Pie Funds' London boss moves on
01 Feb 2019 Regional prices hit record highs
01 Feb 2019 Conduct, culture, and commission
01 Feb 2019 Non-bank mortgage lending soars in 2018
01 Feb 2019 Has the corporate bond market partied too hard?
01 Feb 2019 Booster adds to wine portfolio
01 Feb 2019 FoxPlan adds former MP to board
01 Feb 2019 Pipeline of new advisers could be stopped
January 2019
31 Jan 2019 Kiwi bourse joins global rally as Fed poised to keep rates low; Air NZ falls again
31 Jan 2019 NZ market out of step with Australia’s slump
31 Jan 2019 Royal Commission report due on Monday
31 Jan 2019 Interest-only lending at historical lows
31 Jan 2019 Super Fund appoint equities manager
31 Jan 2019 Govt confirms: Commission in the gun
30 Jan 2019 Air NZ warning weighs on tourism; NZ shares fall
30 Jan 2019 Interest-only lending contained: CoreLogic
30 Jan 2019 It’s a capital gains waiting game
30 Jan 2019 Advisers told: Get ready for major change
30 Jan 2019 NZ Funds appoints a UK tax expert
29 Jan 2019 CONSUMER REACTION: We told you so
29 Jan 2019 FSC REACTION: We welcome the report
29 Jan 2019 CFCC REACTION: Consumers at mercy of advisers
29 Jan 2019 Not a good day on the sharemarket amid ongoing concerns about global growth
29 Jan 2019 FINANCIAL ADVICE NZ REACTION: Consumer focus welcome
29 Jan 2019 Investors struggle as first home buyers catch up
29 Jan 2019 FMA gets its wish: Insurance sales incentives to be banned
29 Jan 2019 Resimac in senior reshuffle
29 Jan 2019 Regulators: Life insurance needs to change
29 Jan 2019 Kiwibank brings two year rate below 4%
29 Jan 2019 Life insurance BDM links up with new group
29 Jan 2019 Will anyone follow Kiwibank?
29 Jan 2019 Office business
29 Jan 2019 Environment changing for active managers: Researcher
28 Jan 2019 NZ shares edge higher; Australian, Auckland holidays sap volumes
27 Jan 2019 [The Wrap] Brace yourself for a big week
25 Jan 2019 NZ stocks inch higher ahead of earnings season
25 Jan 2019 General Finance Continues to Grow and Develop
25 Jan 2019 UDC to return $922m to investors
25 Jan 2019 Craigs adds to KiwiSaver team
25 Jan 2019 Migration lower than previous estimates
25 Jan 2019 Industry eyes tax report
24 Jan 2019 NZ shares inch higher as US shutdown sidelines investors
24 Jan 2019 Vale Jack Bogle
24 Jan 2019 Capital markets under review
24 Jan 2019 Tribunal rules for landlord in damage case
24 Jan 2019 FuturePlan a reminder to check in with clients
23 Jan 2019 NZ shares ease on global growth concerns
23 Jan 2019 Wellington rents highest in NZ
23 Jan 2019 Level five version two signed off
23 Jan 2019 Asteron makes tweaks to help customers
22 Jan 2019 NZ shares fell on global growth concerns
22 Jan 2019 What can the past two years tell us about markets in 2019
22 Jan 2019 Slow Auckland rent growth unlikely to go on
22 Jan 2019 Tough quarter for investors, fund managers
22 Jan 2019 Long-time insurance adviser remembered
21 Jan 2019 AFAs ring changes
21 Jan 2019 NZ stocks gain; investors seek value ahead of earnings season
21 Jan 2019 Strategies for new investors
21 Jan 2019 How organised are you?
20 Jan 2019 Trustee company adds National Retail Manager
18 Jan 2019 Sharemarket follow Asian markets higher on renewed hopes for China-US resolution
18 Jan 2019 [The Wrap]
18 Jan 2019 Reserve Bank proposals could force $2 billion mortgage hike: UBS
18 Jan 2019 Foreign buyer ban bites
17 Jan 2019 NZ shares get further lift from positive offshore markets
17 Jan 2019 Westpac back below 4%
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.
8 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