GoodReturns
Archive - 2019
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December 2019
04 Dec 2019 NZ shares dip on eve of major regulatory decisions
04 Dec 2019 [GRTV] Potential FAP costs and CRM intricacies
04 Dec 2019 Share your views on property investing
04 Dec 2019 Property Investor Survey; SBS rate cut
04 Dec 2019 Govt reveals plans to change insurance rules
04 Dec 2019 Values pick up the pace
04 Dec 2019 Fund managers: One for the team
03 Dec 2019 Ballantyne: Advisers don't own clients
03 Dec 2019 Young people should budget to live to 100, actuaries say
03 Dec 2019 Legg Mason Brandywine Global bond fund now on FNZ
03 Dec 2019 NZ shares join global decline; US tariff move weighs on exporters
03 Dec 2019 Auckland’s November sales at four year high
03 Dec 2019 ANZ rate changes; Advisers face New Year cash squeeze
03 Dec 2019 Fidelity scores top award for third consecutive year
03 Dec 2019 Advisers face New Year cash squeeze: Prospa
03 Dec 2019 Advisers pan KiwiSaver settings
03 Dec 2019 Ross investors seek $75 million from ANZ
02 Dec 2019 Five day streak of gains ends; Gentracks leads market lower
02 Dec 2019 Finance clause change to hit home buyers: REINZ
02 Dec 2019 Morningstar completes acquisition
02 Dec 2019 Finance clause change to hit home buyers: REINZ
02 Dec 2019 Findex seeds fund launch
02 Dec 2019 Rates continue to fall; investor lending rises
02 Dec 2019 Supply remains tight nationwide
02 Dec 2019 Rate cuts continue despite RBNZ decision
01 Dec 2019 First FAP licences issued
November 2019
30 Nov 2019 [The Wrap] Advice is more than just fees; Celebrating the best
29 Nov 2019 NZX50 gains 4.9% in November as M&A boosts retirement sector
29 Nov 2019 [GRTV] Ballantyne on conduct and culture; who owns the client; the future of dealer groups and more
29 Nov 2019 Wellywood on the rise
29 Nov 2019 Fund Manager of Year battle between active and passive
28 Nov 2019 MMC catches big fish to run new platform
28 Nov 2019 NZX50 hits record; buoyed by business confidence, M&A
28 Nov 2019 Imagine being forced to give bad advice
28 Nov 2019 Commercial disrupter proves popular
27 Nov 2019 JMI: Advice businesses riding wave
27 Nov 2019 Reserve Bank flags commission rates, solvency
27 Nov 2019 NZ shares gain as F&P has solid first half
27 Nov 2019 LVRs kept on hold
27 Nov 2019 LVR speed limits on hold; Westpac NZ plays down impact of scandal
27 Nov 2019 LVR speed limits kept on hold
27 Nov 2019 Westpac NZ plays down impact of money laundering scandal
27 Nov 2019 KiwiSaver providers: Balanced is better – hold the RI
26 Nov 2019 MSCI reweighting drives mammoth volume on NZX
26 Nov 2019 Investor lending on the increase
26 Nov 2019 COMMENT: Unlawful premises – moving past Anderson v FM Custodians
26 Nov 2019 Westpac cuts 1 year special rate
26 Nov 2019 Using an adviser adds more than 5% to a client's portfolio
25 Nov 2019 Optimism over US-China trade deal welcomed by the market; Cracks at Metroglass
25 Nov 2019 Finalists in Fund Manager of the Year Awards revealed
25 Nov 2019 LVR restrictions to stay put: Westpac
25 Nov 2019 TSB rate cut, SBS rate increase; LVR speed limit to stay put?
25 Nov 2019 LVR restrictions to stay put: Westpac
25 Nov 2019 Pie Funds founder disappointed strategy hasn’t worked
24 Nov 2019 Southern Cross's new digital human answers our health insurance questions
24 Nov 2019 [The Wrap] Into the unknown
23 Nov 2019 Gentrack sinks on profit warning; NZ shares fall overall
22 Nov 2019 SFO deception charges for investors
22 Nov 2019 Pre-summer pick up for rental market
22 Nov 2019 NZCU Baywide buys Co-op Money NZ; General Capital losses narrow
22 Nov 2019 NZCU Baywide buys Co-op Money NZ
22 Nov 2019 NZ Funds launches new options
21 Nov 2019 Fidelity appoints chief underwriter
21 Nov 2019 NZ shares fall as US-China trade concerns weigh on markets; Ryman slips
21 Nov 2019 Assets rise, losses narrow at General Capital
21 Nov 2019 ASB cuts mortgage rates; costs to rise under new regime?
20 Nov 2019 Nikko attracts big balances
20 Nov 2019 Changes for Nikko
20 Nov 2019 Morningstar backs InvestNow
20 Nov 2019 Insurance, KiwiSaver could help out-of-work NZers
20 Nov 2019 NZ shares rise; Metlife jumps on takeover talk
20 Nov 2019 COMMENT: Removing 90-day notices - the impacts
20 Nov 2019 Mortgage rates may be at cycle low: ASB
20 Nov 2019 BNZ censured over capital failing; new BDM at Prospa
20 Nov 2019 New BDM for Prospa
20 Nov 2019 Details confirmed for transitional licensing
19 Nov 2019 A2 soars; Ebos slides on major stake sale
19 Nov 2019 BNZ censured over capital failings
19 Nov 2019 Mortgage rates at cycle low?; Westpac changes approval process
19 Nov 2019 Lowdown on NZ primary sector investment
19 Nov 2019 Life stages research shows big differences in outcomes
18 Nov 2019 Not a great Monday on the market: Sky TV, Steel & Tube warn on earnings
18 Nov 2019 Mortgage rates may be at cycle low: ASB
18 Nov 2019 Key reform will only protect bad tenants
18 Nov 2019 New distribution boss for NZ Funds
18 Nov 2019 New owner, MD for Century 21
18 Nov 2019 Kiwibank cuts one year mortgage; landlords reforms announced
18 Nov 2019 Share windfall disappoints
18 Nov 2019 Mike Pero adds five advisers
18 Nov 2019 First Mortgage Trust bolsters South Island presence
18 Nov 2019 Kepa makes key compliance hire
17 Nov 2019 Changes to RTA announced
15 Nov 2019 Kiwibank slashes one-year mortgage to new low
15 Nov 2019 NZ shares edge lower; power companies under pressure
15 Nov 2019 Groups weigh up membership costs
15 Nov 2019 ComCom warning for property trader
15 Nov 2019 Dealer groups warn of rising costs under new regime
14 Nov 2019 More work needed on disclosure rules, SiFA says
14 Nov 2019 NZ shares recover as investors re-think RBNZ review
14 Nov 2019 MyFiduciary does JHC deal
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.
2 days 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.
2 days 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.
4 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…
4 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".
4 days ago Paul Flood