GoodReturns
Archive - 2019
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January 2019
17 Jan 2019 Industry ready for regulators' insurance report
17 Jan 2019 Auckland sales at 10 year low
17 Jan 2019 Wealth business pays off for banks
16 Jan 2019 Stocks rise, buoyed by dairy prices, overseas markets
16 Jan 2019 Drama absent from market
16 Jan 2019 Doing nothing 'not an option'
15 Jan 2019 Local shares drift after US stocks eased back overnight
15 Jan 2019 Markets price in 40% chance of OCR cut
15 Jan 2019 Planning fallacies – the pushy little trend
15 Jan 2019 Three hires for Mortgage Express
15 Jan 2019 Non-banks head to Hamilton and Christchurch
15 Jan 2019 Advisers sign on for regulation summit
15 Jan 2019 AIA celebrates 100 years
15 Jan 2019 Time of change: 2019 forecast
15 Jan 2019 Booster puts pressure on index funds over weapons investments
14 Jan 2019 From FMA to RBNZ
14 Jan 2019 NZ shares inch higher in tepid trade
14 Jan 2019 Harbour fixed income head moves on
14 Jan 2019 Strong growth in provinces
14 Jan 2019 Tower exec takes over Public Trust CEO role
14 Jan 2019 New year; new rates
11 Jan 2019 Govt needs to step in to annuity market: Researcher
10 Jan 2019 NZ shares fall as investors take a breather
10 Jan 2019 Advisers welcome interest-only boost
10 Jan 2019 COMMENT: How to fix the housing crisis
09 Jan 2019 Top 10 Dow Jones Industrial Average Factoids – 2018 in Review
09 Jan 2019 NZ shares gain as trade fears ease
09 Jan 2019 Ignore the chatter; take the long-term view
09 Jan 2019 Education providers tweak offers
09 Jan 2019 Premium increases: An adviser would have helped
08 Jan 2019 NZ shares get further lift on improving offshore sentiment
08 Jan 2019 Eight reasons to be optimistic about 2019
08 Jan 2019 Consumers want qualified advice
07 Jan 2019 Investors go bargain hunting
07 Jan 2019 Auckland property market edges towards first price decline in a decade
07 Jan 2019 Australian Royal Commission will impact NZ
07 Jan 2019 Time for a sea change
04 Jan 2019 Investors move to defensive stocks on global jitters
04 Jan 2019 December rental stats available now
04 Jan 2019 House prices correct nationally but still some hot spots
03 Jan 2019 NZ shares drop in first trading day of 2019 as Kathmandu whacked on weak sales
03 Jan 2019 The outlook for 2019
03 Jan 2019 Naylor explains why a Level 5 qualification is too low for quality financial advice
01 Jan 2019 Ten things to look out for in 2019
01 Jan 2019 2018, more time will tell
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.
12 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.
14 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".
3 days ago Paul Flood