GoodReturns
Archive - 2013
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November 2013
28 Nov 2013 Residential investment strong: Stats NZ
27 Nov 2013 Financial advice skills shortage
27 Nov 2013 Interest rate rise may need to be sharp: NZIER
27 Nov 2013 Builders: Expect consent drop in March
26 Nov 2013 Big shake-up at Mint
26 Nov 2013 Kiwibank slowing down before speed bumps
26 Nov 2013 Tyndall appoints new Head of Distribution
26 Nov 2013 Future bright for IFAs
26 Nov 2013 Kiwibank already near target before rules kicked in
26 Nov 2013 Landlords told: Watch out for rising rates
25 Nov 2013 Old hand takes tiller at IFA
25 Nov 2013 ASB cuts rates again. ANZ adds special
25 Nov 2013 Islamic fund a challenge
25 Nov 2013 Migration pressure increases
22 Nov 2013 PGC wins case against former MD
22 Nov 2013 [Weekly Wrap] FMCA not far away
22 Nov 2013 Kiwibank goes mobile with home loan applications
22 Nov 2013 Kiwibank latest with home loan app
22 Nov 2013 Thinking on DIMS turned upside down
22 Nov 2013 Capture opportunities in office market
21 Nov 2013 Asteron shuffles leadership team
21 Nov 2013 Stock-picking days numbered for advisers
21 Nov 2013 Alexander: Prices not to blame
21 Nov 2013 OECD identifies house price fall risk
20 Nov 2013 Boutique fund managers dodge a bullet
20 Nov 2013 We have a new bank
19 Nov 2013 BNZ offers new rate and lowers others
19 Nov 2013 Research houses philosophical about disclosure
19 Nov 2013 Report suggests affordability improvements
18 Nov 2013 Mortgage top-ups go mobile
18 Nov 2013 TNP loses home loan boss
18 Nov 2013 Darren Pratley to leave TNP
18 Nov 2013 More questions about CPD
18 Nov 2013 Rents creeping up: Barfoot
18 Nov 2013 Northern lifestyle blocks popular
16 Nov 2013 No silver bullet to regulation: Hughes
16 Nov 2013 Code v2.0 near
15 Nov 2013 [Weekly Wrap] Ross - case closed?
15 Nov 2013 Ross given 10 years' jail
15 Nov 2013 Big name missing from new fund manager
15 Nov 2013 Tell us about your bank
15 Nov 2013 FMA calls for licensing input
15 Nov 2013 Investors won't make a loss: King
14 Nov 2013 Hopes RAM investors may get IRD refund
14 Nov 2013 No Plan B for IOOF
14 Nov 2013 Risk appetite returning
14 Nov 2013 Pick suburbs carefully: Westpac
14 Nov 2013 First-home buyers giving up: Survey
13 Nov 2013 RBNZ expects construction demand to stay strong
13 Nov 2013 Housing market still worries Reserve Bank
13 Nov 2013 Too early to tell if speed bumps work: RBNZ
13 Nov 2013 The global outlook for 2014
13 Nov 2013 The make up of an owner-occupied advisory business
13 Nov 2013 Construction demand tipped to remain high
12 Nov 2013 BNZ rewards higher-equity borrowers
12 Nov 2013 Where do you trust your money…
12 Nov 2013 Westpac follows ASB
12 Nov 2013 Rich advisers will get richer
12 Nov 2013 LVR restrictions blunt turnover
11 Nov 2013 Face-to-face time limited for banks
11 Nov 2013 ASB lowers one two-year rate
11 Nov 2013 ASB lowers one two-year rate
11 Nov 2013 Grosvenor sets sights on NZ and KiwiSaver
11 Nov 2013 Rising house prices not a concern
10 Nov 2013 Eyes fixed on the policymakers
08 Nov 2013 ASB loses KiwiSaver man to the UK
08 Nov 2013 [Weekly Wrap] Why don't Kiwis like advisers?
08 Nov 2013 Builders angry at Govt plans
07 Nov 2013 Portability not a no-brainer
07 Nov 2013 Global equity fund seeks listing
07 Nov 2013 Kiwis' 'vitriol' towards advisers revealed
07 Nov 2013 LVR move likely to hit provinces hardest: QV
07 Nov 2013 Investors unfazed by LVR rules
06 Nov 2013 Hot competition for higher-equity borrowers
06 Nov 2013 Online sales not biggest threat, poll shows
06 Nov 2013 Fees may hit bank profits
06 Nov 2013 Auction numbers still hot but 'may lose favour'
05 Nov 2013 Challenge responsible investing assumptions
05 Nov 2013 Trauma insurance 'becoming unsustainable'
05 Nov 2013 What counts as CPD now?
05 Nov 2013 Barfoot reports listings increase
04 Nov 2013 Banker survives minimum wage challenge
04 Nov 2013 What's the best income protection when incomes fluctuate?
04 Nov 2013 Tax rules on share funds unfair
04 Nov 2013 LVR restrictions not enough: ASB
04 Nov 2013 Take a hint from Texas, report says
01 Nov 2013 [Weekly Wrap] When is enough enough?
01 Nov 2013 USB theft a warning for others
01 Nov 2013 BNZ offering next-to-no low-deposit loans
01 Nov 2013 DIMS questions remain for advisers
01 Nov 2013 Surveys reveal buoyant market
01 Nov 2013 Broker calls for new-house exemption
October 2013
31 Oct 2013 Dollar concerns RBNZ
31 Oct 2013 OCR unchanged at 2.50%
31 Oct 2013 Regulation an opportunity
31 Oct 2013 Apartments popular with first-timers
29 Oct 2013 Being an AFA 'isn't good enough'
29 Oct 2013 Bentley parked up (for now)
28 Oct 2013 Call to add reasonableness standard
25 Oct 2013 More gongs
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.
10 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.
13 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