GoodReturns
Archive - 2017
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November 2017
27 Nov 2017 New minister gets into client first debate
27 Nov 2017 Digital threat to mortgage advisers
24 Nov 2017 Court of Appeal for price fixing charges
24 Nov 2017 Super City rents up, supply down
24 Nov 2017 [Obituary] Prominent insurance adviser remembered
24 Nov 2017 Staunch opposition to DTI proposal
24 Nov 2017 AML warning for broker firm
24 Nov 2017 New people at the People Group
24 Nov 2017 Westpac takes the cap off; Kiwibank cuts
24 Nov 2017 NZX pushing on with scale in its ETFs
24 Nov 2017 Bank credit rationing a myth: Healy
23 Nov 2017 Large mortgage and insurance adviser group changes hands
23 Nov 2017 Ethics matter in fintech era: CFA
23 Nov 2017 Cullen to lead Tax Working Group
22 Nov 2017 Stop filling out forms for clients: IFSO
22 Nov 2017 PAA: Meeting failure could hold up Financial Advice NZ
21 Nov 2017 Priorities and ideals
21 Nov 2017 FMA pushes net returns over fees debate
21 Nov 2017 A survival guide for financial adviser licensing
21 Nov 2017 Consilium adds advice firms
20 Nov 2017 ANZ sells sharetrading business to FNZC
20 Nov 2017 Castle Point appoints head of operations
20 Nov 2017 Five years of nib; award winning funds; and Fidelity's $100m injection
20 Nov 2017 Active managers go passive
20 Nov 2017 Rental case reversal good news for industry
19 Nov 2017 South Island tribe looks to add KiwiSaver scheme
17 Nov 2017 New board at FSC
17 Nov 2017 Roboadvice green light 'better late than never'
16 Nov 2017 ANZ KiwiSaver gets top awards...again
16 Nov 2017 What to do with $100 million
16 Nov 2017 Next stop: Innovation
16 Nov 2017 Fiducian offers something a bit different
16 Nov 2017 Why India and Tech funds count
16 Nov 2017 Auckland adviser joins Plus4 Insurance Group
16 Nov 2017 FMA focus on financial advice
16 Nov 2017 Massive RV increase for Auckland
15 Nov 2017 Report, not court action, for Goldman Sachs
15 Nov 2017 ANZ cuts two rates
15 Nov 2017 Economic outlook still positive: ASB
15 Nov 2017 National median reaches record high
14 Nov 2017 New look; BNZ rolls out electronic lodgement
14 Nov 2017 What next for KiwiSaver
14 Nov 2017 October results a mixed bag
13 Nov 2017 BNZ first bank to market with online lodgement tool
13 Nov 2017 Advisers could do better by women: AMP
10 Nov 2017 The Wrap: Has FSC launched a pre-emptive strike on the new adviser association?
10 Nov 2017 ANZ keeping OnePath
10 Nov 2017 FMA: Financial services changing fast
09 Nov 2017 Sunny MPS surprises some
09 Nov 2017 LVR restrictions to be reviewed
09 Nov 2017 RBNZ OCR announcement
09 Nov 2017 What the Governor said today
09 Nov 2017 Fear and the financial plan
09 Nov 2017 Quality mark questions
09 Nov 2017 Sunny MPS a surprise for some
09 Nov 2017 Price expectations heading downward
08 Nov 2017 Email address update for Vodafone users
08 Nov 2017 Westpac says advisers important, but...
08 Nov 2017 Partners Life appoints additional independent director
08 Nov 2017 TSB's Kevin Murphy joins the bank CEO exodus
08 Nov 2017 All eyes are on the Reserve Bank and interest rates
08 Nov 2017 Look to Asia for yield
08 Nov 2017 Reserve Bank changes 'not radical'
08 Nov 2017 Warmer weather heats up housing market
07 Nov 2017 When price and value diverge
07 Nov 2017 Sovereign boost commissions; nib offers a new model
07 Nov 2017 What next for KiwiSaver
07 Nov 2017 Time to get rates back to normal
07 Nov 2017 nib marks five years
07 Nov 2017 Target on advisers outside associations
06 Nov 2017 Time for Normalisation?
06 Nov 2017 New government hasn’t panicked market
03 Nov 2017 Avanti head of ops up for big award
03 Nov 2017 The Wrap: Minister acknowledges small firms
03 Nov 2017 Advisers save BNZ's market share
03 Nov 2017 Getting to Know: Janet Natta
03 Nov 2017 What's going to happen with the OCR next week?
03 Nov 2017 OCR stable . . . for now
03 Nov 2017 Market wobbles 'signify need for active management'
02 Nov 2017 RESIMAC offering to refund first month of loan P&I
02 Nov 2017 BNZ boss does a job swap
02 Nov 2017 First month P&I free offer launched
02 Nov 2017 Investors search for income
02 Nov 2017 Auckland values start to slide
01 Nov 2017 Mortgage advisers key players in credit union’s success
01 Nov 2017 Responsible investing missing the mark: White paper
01 Nov 2017 Fidelity Life looks to accelerate growth with new capital
01 Nov 2017 Sargon Capital hiring
01 Nov 2017 Pie Funds launches 'alternative' option
October 2017
31 Oct 2017 Fidelity Life gets $100 million injection
31 Oct 2017 KiwiSaver fees: Paying for performance
31 Oct 2017 Fisher Funds: Industry should pull together
31 Oct 2017 [WEBINAR] Intelligent underwriting tool for Advisers
31 Oct 2017 Faafoi: I'll listen to concerns
31 Oct 2017 New investors and property speculators likely to suffer under new rules
31 Oct 2017 Healthy Homes Guarantee bill to be fast tracked
30 Oct 2017 Have your say on Fintech
30 Oct 2017 Leverage up your KiwiSaver fund
30 Oct 2017 Equities versus Bonds?
30 Oct 2017 Going for growth
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.
21 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.
23 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