GoodReturns
Archive - 2009
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December 2009
01 Dec 2009 Strategic investors about to get first payment
01 Dec 2009 SCF temporary chief
01 Dec 2009 PLAN NZ sold
01 Dec 2009 AMP refuses to front up on commissions in NZ
November 2009
30 Nov 2009 Dorchester to end its moratorium
30 Nov 2009 HSBC profit jumps despite higher bad debt charges, shrinking mortgage
30 Nov 2009 7 reasons why Allied's deal will succeed
30 Nov 2009 The choice for Hanover investors: Receivership or Allied Farmers?
30 Nov 2009 Allied’s Hanover deal better than receivership
30 Nov 2009 Allied’s Hanover deal better than receivership
30 Nov 2009 Do property investors really have "tax benefits?"
30 Nov 2009 Home-building approvals climb, adding weight to recovery
30 Nov 2009 News Round Up
29 Nov 2009 Rates Round Up
28 Nov 2009 [Book] Don't miss the next property cycle
27 Nov 2009 October reminder that all is not well
27 Nov 2009 TSB's profits and mortgage book grow strongly
27 Nov 2009 [Weekly Wrap] Sights targeted on commissions
27 Nov 2009 Stairway to heaven....yeah right
27 Nov 2009 Medical insurance requests speed up
27 Nov 2009 SHARE: Regulation Success Roadshow
27 Nov 2009 DNZ offer unfair to shareholders: van Schaardenburg
26 Nov 2009 KiwiSaver fee disclosure needs to improve: Mercer
26 Nov 2009 McLeod leaves South Canterbury, but sticks with Hubbard
26 Nov 2009 Women in Super Christmas Drinks
26 Nov 2009 SHARE: Regulation Success Roadshow
26 Nov 2009 SHARE: Regulation Success Roadshow
26 Nov 2009 China not the world's panacea: Magellan
26 Nov 2009 Celebrating tenant-landlord relationships
25 Nov 2009 Rumours of new Hanover bid greatly exaggerated
25 Nov 2009 Hanover's winners, losers and whingers
25 Nov 2009 8th Annual International Financial Reporting Standards Masterclass
25 Nov 2009 12th Annual Local Government Finance Forum
25 Nov 2009 ANZ's mortgage book shrinks, jumps or subsides - take your pick
25 Nov 2009 Magellan Asset Management’s Investment Briefing
25 Nov 2009 Practice management: The financial sailboat
25 Nov 2009 SHARE: Regulation Success Roadshow
25 Nov 2009 SHARE: Regulation Success Roadshow
25 Nov 2009 Fidelity moves to renewal commission model
25 Nov 2009 NZ to track Australia on commissions
24 Nov 2009 Bouquet for St Laurence; Brickbat for Strategic
24 Nov 2009 Magellan Asset Management’s Investment Briefing
24 Nov 2009 SHARE: Regulation Success Roadshow
24 Nov 2009 Mortgagee sales at record high
24 Nov 2009 Commission ban deferred but Ripoll effect to hit NZ
24 Nov 2009 Rates Round Up
24 Nov 2009 Getting monetary policy mix right
24 Nov 2009 Resurgent risk appetite breathes life back into debt market
23 Nov 2009 Signing up children as KiwiSavers is about to get harder.
23 Nov 2009 Magellan Asset Management’s Investment Briefing
23 Nov 2009 Funding brought forward for insulation scheme
23 Nov 2009 News round-up
20 Nov 2009 [Weekly Wrap] How's your moral compass?
20 Nov 2009 TNP: dealers must deliver
20 Nov 2009 ISO to rule on advice disputes
19 Nov 2009 Fisher Funds growth fund tops KiwiSaver survey
19 Nov 2009 CBS Canterbury ‘very happy’ with BB+ credit rating
19 Nov 2009 ASB posts $124m Sept qtr loss but underlying profitability rises
19 Nov 2009 ComCom chasing bigger fish after dodgy Invercargill property scheme
19 Nov 2009 Finsia: Delivery of KiwiSaver
19 Nov 2009 Boston Finance placed in receivership
19 Nov 2009 No advisers on Code Committee. No problem: Cotton
18 Nov 2009 Deposit guarantee scheme gets tweaked
18 Nov 2009 Fisher & Paykel and UDC hike rates
18 Nov 2009 Property indicator continues to exude energy
18 Nov 2009 Opinion: Advice counts - and you have to have a method
18 Nov 2009 Finsia industry update: Lifting New Zealanders’ financial literacy
18 Nov 2009 Allied Farmers offers hand of welcome to Hanover investors
18 Nov 2009 Allied and Hanover confirm deal
18 Nov 2009 TNP Annual Conference 2009
18 Nov 2009 Asteron appoints new senior leadership team
18 Nov 2009 Code Committee outlines ethics required
17 Nov 2009 Former AMP Capital boss becomes a Guardian
17 Nov 2009 Allied Kiwi says insurance sales up 50%
17 Nov 2009 Code Committee sackings unwarranted
17 Nov 2009 How much is your mortgage costing?
17 Nov 2009 Finsia industry update: Lifting New Zealanders’ financial literacy
17 Nov 2009 Hanover posts $102.9m loss, writes off $308.9m
17 Nov 2009 Aussie researcher plants flag in NZ
17 Nov 2009 Property finders likely to cause a few headaches for REAA
16 Nov 2009 ANZ backs RBNZ on rate rises
16 Nov 2009 The Hawk set to swoop on Cynotech
16 Nov 2009 Rates Round Up
16 Nov 2009 Harcourts pushes auctions as favoured selling strategy
16 Nov 2009 Confidence in housing remains high: ASB survey
15 Nov 2009 SIFA 2009 conference
13 Nov 2009 [Weekly Wrap] Believe it or not
13 Nov 2009 House prices hit 10-year high amid declining sales numbers
13 Nov 2009 REINZ residential highlights - October 2009
13 Nov 2009 Q&A: TOWER Parallel Portfolios
13 Nov 2009 Out on their own and looking to clean up the insurance broker industry
13 Nov 2009 Cowboys targeting leaky home owners
13 Nov 2009 Heading for Spicers
12 Nov 2009 Deposit war keeps bank margins under pressure
12 Nov 2009 Cotton explains why Code Committee members pushed
12 Nov 2009 Two Code Committee members resign
12 Nov 2009 Prices to continue upwards for some time yet
12 Nov 2009 The road well travelled
12 Nov 2009 CFA 2009 Forecast Dinner
12 Nov 2009 Five Star directors to be prosecuted
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.
17 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.
19 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