GoodReturns
Archive - 2016
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December 2016
02 Dec 2016 Booster boosts board
01 Dec 2016 Unintended consequences
01 Dec 2016 Buying or selling property? Know your tax obligations
01 Dec 2016 FAA review delayed
01 Dec 2016 Slowing growth trend continues - QV
01 Dec 2016 AMP takes out top award
01 Dec 2016 Green’s rental bill fails
01 Dec 2016 More options for buyers
01 Dec 2016 Addressing housing market risks - RBNZ
01 Dec 2016 Global infrastructure hit by two big risk factors
November 2016
30 Nov 2016 Devon to get new MD
30 Nov 2016 Fixed term tenancies most popular
30 Nov 2016 Addressing housing market risks - RBNZ
30 Nov 2016 DTIs not in the near future - economists
30 Nov 2016 RBNZ readies to deploy DTI tools
30 Nov 2016 RBNZ asks for DTI tools
29 Nov 2016 Tufui wins top SBS award
29 Nov 2016 Jack Regan gets a new role in AMP reshuffle
29 Nov 2016 Wellington market moves on
29 Nov 2016 SBS grows and adjusts commission levels
29 Nov 2016 Heartland interested in UDC
29 Nov 2016 Price fixing earns agency $1.25 million fine
29 Nov 2016 Avanti gets good report card
29 Nov 2016 Targeted rates proposed for housing developments
29 Nov 2016 Westpac follows along
29 Nov 2016 Investor success bubbling away
29 Nov 2016 FAA licensing process will be bigger job thn FMCA: Mason
28 Nov 2016 Castle Point appoints distributor
28 Nov 2016 [Updated] Fund managers on home straight of licencing race
28 Nov 2016 Investor success bubbling away
25 Nov 2016 Heartland Bank to re-enter residential mortgages
25 Nov 2016 Ringing in the rate changes
25 Nov 2016 Performance fee update – lesson for NZ
24 Nov 2016 Downbound trend for investor lending
24 Nov 2016 Devil in property tax detail
24 Nov 2016 Bentley adds new manager
24 Nov 2016 Primed for future growth
24 Nov 2016 ANZ sets new highs
24 Nov 2016 Robo offer will soon become essential for advisers: Symons
24 Nov 2016 Bill introduced to lift adviser requirements
24 Nov 2016 KiwiSaver quake moves spark warning
23 Nov 2016 Westpac makes substantial change
23 Nov 2016 Give your ABS a check-up
23 Nov 2016 Demand leads to new renovation cover
23 Nov 2016 Rents on the rise
22 Nov 2016 Asteron offers quake help
22 Nov 2016 Non-bank lender moves into peer to peer lending
22 Nov 2016 Financial Advice NZ offers online feedback option
22 Nov 2016 Before you sign on the dotted line
21 Nov 2016 Leaky building mega suit hits court
21 Nov 2016 NZ commercial market global star
21 Nov 2016 BNZ offers 4% term deposit rate
21 Nov 2016 Another bank increases rates
21 Nov 2016 Milford to establish private equity fund
21 Nov 2016 Banks raise concern about 'fee-chasers'
21 Nov 2016 New peer-to-peer mortgage provider licensed
21 Nov 2016 'Lower forever' no longer safe interest rate view
19 Nov 2016 Regional gap in estate planning reveals Aucklanders on thin ice
18 Nov 2016 Post-earthquake OCR cut unlikely
18 Nov 2016 Debate rages over foreign buyer data
18 Nov 2016 Inflation returns to the global economy?
18 Nov 2016 Argument rages over foreign buyer data
18 Nov 2016 Growth fund that shrank prompts client complaint
18 Nov 2016 Investors may expect more from NZ in wake of quake
18 Nov 2016 FMA gets set for new regime
17 Nov 2016 Deal thaws insurance freeze
17 Nov 2016 Bright future for Asset in Auckland
17 Nov 2016 Brokers unhappy with ASB's new refix process
17 Nov 2016 New sales head for Partners
17 Nov 2016 Property deals on hold due to insurance freeze
17 Nov 2016 Kiwibank shifts its focus
17 Nov 2016 Insuring houses tougher post quakes
17 Nov 2016 Ditch benchmarks in client conversations, advisers told
16 Nov 2016 Complectus IPO deferred
16 Nov 2016 House sales drop nationwide
16 Nov 2016 Kiwis seek RI information - but not from advisers
16 Nov 2016 Unitary Plan moves forward
15 Nov 2016 Fidelity offers earthquake assistance
15 Nov 2016 ANZ first bank to offer earthquake package
15 Nov 2016 Drop in mortgage-free properties
15 Nov 2016 Orkibi’s rules to investing
15 Nov 2016 Advisers told to warn clients off cold-callers
15 Nov 2016 FMA warns code changes must be adopted within months
14 Nov 2016 Start your Insuretech project now
14 Nov 2016 Decline in sales nationwide
14 Nov 2016 Co-Op Bank latest to increase rates
14 Nov 2016 Fisher to leave Partners Life
14 Nov 2016 Opportunities in post-Trump world
14 Nov 2016 Advisers should see no impact from review: ANZ
14 Nov 2016 More investors, fewer mortgage free properties
12 Nov 2016 How FEI Investments reinvented itself
11 Nov 2016 Fire levies unfair for investors
11 Nov 2016 Sovereign appoints head of claims
11 Nov 2016 Rates won't fall on back of OCR cut
11 Nov 2016 Platform promises to drive productivity
10 Nov 2016 RESIMAC answer broker questions over its new channel
10 Nov 2016 The Trump Victory – How might investors react?
10 Nov 2016 DTIs not on the cards yet - RBNZ
10 Nov 2016 DTIs not on the cards yet - RBNZ
10 Nov 2016 Don't expect rates to fall on back of OCR cut
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.
1 day 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.
1 day 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.
3 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…
3 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