GoodReturns
Archive - 2010
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December 2010
02 Dec 2010 Study may reveal reason for lack of life insurance
02 Dec 2010 ANZ loses market share in home loans
02 Dec 2010 Housing confidence down, investment property ‘less attractive’
01 Dec 2010 Fisher & Paykel Finance sees securitisation revival
01 Dec 2010 The first AFAs announced
01 Dec 2010 Everything you need to know - the financial adviser regulatory regime
01 Dec 2010 Tower to combine units, reach out to adviser groups
01 Dec 2010 Sole advisers already registered can get refunds
01 Dec 2010 TSB shaved 3yr rate
November 2010
30 Nov 2010 Disciplinary committee established for AFAs
30 Nov 2010 HSBC's home loan pricing strategy grows book
30 Nov 2010 Banking Ombudsman welcomes new members
30 Nov 2010 Deputy banking ombudsman appointed
30 Nov 2010 Tower appoints new investment managers
30 Nov 2010 New Southern Cross board appointment
30 Nov 2010 Kiwibank's growth momentum slows
30 Nov 2010 AMP aims at banks once AXA deal done
30 Nov 2010 Housing consents continue to fall
30 Nov 2010 Removal of gift duty still unclear
29 Nov 2010 Fisher nets FNZC KiwiSaver Fund
29 Nov 2010 Paul Mersi leaving PwC
29 Nov 2010 AXA Global Investors appoints head of Investment Strategy.
29 Nov 2010 AXA, AMP sign 'binding terms' over sale of Australasian units
29 Nov 2010 Allied Farmers ‘shocked’ at Hanover activity
29 Nov 2010 SFO launches Hanover investigation
29 Nov 2010 Rates Update: Equitable puts focus back on NBDTs
29 Nov 2010 Equitable euthanised
29 Nov 2010 News Round Up
27 Nov 2010 Land investment product definition drafted
26 Nov 2010 The A banks cut
26 Nov 2010 Hanover calls in lawyers on Allied
26 Nov 2010 Fifth Hubbard report released
26 Nov 2010 Finance stars in Fisher & Paykel results
26 Nov 2010 Heartland bank a big tick closer
26 Nov 2010 For former accountant, crime adds up to 18 months
26 Nov 2010 A new suitor for AXA
26 Nov 2010 New rules for fund management fee disclosure revealed
25 Nov 2010 Kiwibank made little difference to mortgage market growth: Tripe
25 Nov 2010 NZF loses a BDM
25 Nov 2010 Newpark in strategic partnership with Macquarie
25 Nov 2010 Heartland bank to be a niche player
24 Nov 2010 Heartland bank proposal highlights NBDT challenges
24 Nov 2010 Harbour appoints head of fixed income team
24 Nov 2010 Take a breath – registration deadline is months away
23 Nov 2010 Has regulation halved the value of your business?
23 Nov 2010 TJ Singh leaves FundSource
23 Nov 2010 OnePath on track with awards
23 Nov 2010 SBS cut two-year rates as well
23 Nov 2010 Challenges for Heartland bank down track
23 Nov 2010 Property gauges not positive
22 Nov 2010 OPI Pacific debenture holders no clearer about payment
22 Nov 2010 5 reasons why the real estate market can't stay down
22 Nov 2010 Rates Round Up:
22 Nov 2010 RaboDirect outs ASB’s 90-day leadership
22 Nov 2010 Wanted: 100,000 additional rental properties for Auckland
22 Nov 2010 Harcourts picks up a pulse in market
21 Nov 2010 ETITO offers financial incentive to advisers
21 Nov 2010 Huljich not the only one in the gun
19 Nov 2010 ASB's mortgage book shrinks for a second successive quarter
19 Nov 2010 FundSource Conference 2010 update
19 Nov 2010 Flurry of cuts to two-year rates
19 Nov 2010 Consider fixing two years now
19 Nov 2010 PIS/BIG/Minerva roadshow
19 Nov 2010 FundSource Conference
19 Nov 2010 Kiwibank cuts two-year rate
19 Nov 2010 Commercial property returns move into upswing
18 Nov 2010 Fidelity life appoints CFO
18 Nov 2010 Huljich faces criminal charges
18 Nov 2010 PIS/BIG/Minerva roadshow
18 Nov 2010 AXA advisers may struggle in wake of takeover
17 Nov 2010 Proposed legislation to restrict Australian bank interest rates
17 Nov 2010 Proposed legislation to restrict bank interest rates in Aussie
17 Nov 2010 PIS/BIG/Minerva roadshow
17 Nov 2010 OnePath to the bank door
17 Nov 2010 Ginger group bursts onto the scene
17 Nov 2010 Early Marac voting running about 90% in favour of merger
17 Nov 2010 TOWER sales quadruple
17 Nov 2010 PIS/BIG/Minerva roadshow
17 Nov 2010 Tyndall sale out of left field: Morningstar
16 Nov 2010 Banking Ombudsman reports 18% rise in mortgage finance complaints
16 Nov 2010 Tyndall Investment Management sold
16 Nov 2010 Controlled demolition topples South Canterbury
16 Nov 2010 Controlled demolition topples South Canterbury
16 Nov 2010 PIS/BIG/Minerva roadshow
15 Nov 2010 AMP makes renewed offer for AXA Asia Pacific
15 Nov 2010 Rates Round Up: Banks nudge each other in short-term deposit rates
15 Nov 2010 PIS/BIG/Minerva roadshow
15 Nov 2010 News Round Up
12 Nov 2010 Guardian Trust appoints managing director
12 Nov 2010 BNZ out alone
12 Nov 2010 Bank disclosure down, non-bank disclosure up
12 Nov 2010 From regulation spotlight to floodlight
11 Nov 2010 Newpark Conference - Staying ahead of the game
11 Nov 2010 Newpark Conference – Staying ahead of the game
11 Nov 2010 Finally a change
11 Nov 2010 Consideration for sole traders to register once
11 Nov 2010 No spring in property markets step
10 Nov 2010 ‘Bumpy’ ride for KiwiSavers may not be over
10 Nov 2010 Debenture funding for property sector ‘dead’
10 Nov 2010 Sovereign applying to be a QFE
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
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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.
18 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.
21 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