GoodReturns
Archive - 2021
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December 2021
01 Dec 2021 Default-Day for KiwiSaver
01 Dec 2021 RBNZ reviews banks' risks
November 2021
30 Nov 2021 NZ shares bounce from omicron sell-off
30 Nov 2021 KiwiSaver default funds - all you need to know
30 Nov 2021 Longer term rates in vogue; Revamped non-bank lender
30 Nov 2021 Vax chat hits a raw nerve - advisers can do better
30 Nov 2021 How cities need to change to adapt to climate change
30 Nov 2021 Borrowers looking to longer terms thanks to Covid
30 Nov 2021 Omicron - one step forward, two steps back for economic recovery
29 Nov 2021 Omicron ordeal knocks NZ index 200 points
29 Nov 2021 Fidelity Life drops the jargon, boosts adviser support
29 Nov 2021 Asteron adds specific injury cover to legacy products
29 Nov 2021 Three new recruits for Fidelity Life
29 Nov 2021 Vaccination status no issue for Southern Cross Healthcare
29 Nov 2021 Guidelines for Covid-infected people living in apartments
29 Nov 2021 Old company with a new name
27 Nov 2021 [The Wrap] Death and disease - and the jab
26 Nov 2021 Nu-covid sends shares tumbling
26 Nov 2021 Earnings surprises support equity returns
26 Nov 2021 Making drawdown a success
26 Nov 2021 Squirrel bites into residential mortgage investments
25 Nov 2021 F&P Healthcare props up NZX50
25 Nov 2021 More changes at the top for the FMA
25 Nov 2021 Covid vaccination status a watching brief for NZ insurers
25 Nov 2021 Westpac's problems exposed; Orr says bank put best foot forward
25 Nov 2021 Westpac's governance problems detailed
25 Nov 2021 Easy Crypto expands with a new chief of staff
25 Nov 2021 nib recognised as an inclusive workplace
25 Nov 2021 CoFI adds more challenges to financial services
25 Nov 2021 Adrian Orr: We put our best foot forward
24 Nov 2021 Stock market rallies as RBNZ eases rates higher
24 Nov 2021 RBNZ hikes OCR
24 Nov 2021 Reaction to OCR hike
24 Nov 2021 RBNZ hikes rates, and promises more
24 Nov 2021 Smartshares gains new director - Lindsay Wright resigns
24 Nov 2021 House prices materially falling chorus from banks
24 Nov 2021 DTI consultation starts
24 Nov 2021 RBNZ adds new option to DTI consultation
24 Nov 2021 FMA releases FAP self-assessment tools
24 Nov 2021 More people using financial advisers: ASB
23 Nov 2021 Shares slump as rate hike looms
23 Nov 2021 Accuro supports Wellington air ambulance
23 Nov 2021 Low deposit loans getting harder
23 Nov 2021 Business mix is critical to good coverage
23 Nov 2021 ANZ too clamps down on low-deposit loans
23 Nov 2021 ESG expert joins Forsyth Barr
23 Nov 2021 Advisers can take on the climate change challenge
23 Nov 2021 Banks need to make CCCFA easy for advisers: Gough
22 Nov 2021 BNZ has further toughened its lending criteria
22 Nov 2021 OCR to rise; Hear the latest from Tony Alexander
22 Nov 2021 Will it be a 25 or 50 basis point rate increase this week?
20 Nov 2021 Heartland increase HER LVR
20 Nov 2021 What is really behind Responsible Investing and ESG ratings?
19 Nov 2021 Ryman Healthcare leads market lower
19 Nov 2021 Nuclear weapons and nicotine alternatives a no-go zone for responsible investors
18 Nov 2021 NZ shares slide as inflation expectations jump
18 Nov 2021 Asteron Life wins top award - AIA exec honoured
18 Nov 2021 RBNZ chief economist goes
18 Nov 2021 The cost of retirement increases - again
18 Nov 2021 Tower's flood modelling to change premiums
17 Nov 2021 NZ sharemarket lower as Plexure falls 13%
17 Nov 2021 Super fund names new head of portfolio investments
17 Nov 2021 Climate change disclosures - the FMA's regulatory response
17 Nov 2021 Rising stars and old hands - awards wrap
17 Nov 2021 Regulation will restore confidence in financial advice
17 Nov 2021 Construction costs still streaking ahead
16 Nov 2021 Market Close: Electricity stocks fall as interest rates rise
16 Nov 2021 Wealthpoint appoints Independent Director
16 Nov 2021 Auckland housing crisis nearly over
16 Nov 2021 What went well at COP26 (and what wasn't so good)
15 Nov 2021 NZ shares bounce back from bad week
15 Nov 2021 Financial Advice NZ appoints two new directors
15 Nov 2021 Unvaccinated may face higher premiums
15 Nov 2021 Financial Advice NZ conference - online from tomorrow
15 Nov 2021 Hot in Hawke's Bay
15 Nov 2021 Regulation roadblock for retail investment
14 Nov 2021 Calls for responsible lending qualifications for advisers
12 Nov 2021 Pushpay pushes market down
12 Nov 2021 AIA NZ chief executive takes leave
12 Nov 2021 NZ Super invests US$100m in climate tech fund
12 Nov 2021 Stubbs vows to reduce fees after Simplicity hits the $4 billion mark
11 Nov 2021 Mainfreight holds the line as bond yields jump
11 Nov 2021 Smartshares bulks up with ASB purchase
11 Nov 2021 What landlords can tell tenants
11 Nov 2021 FSC membership grows by 23% - new board appointed
11 Nov 2021 Advisers key to closing the protection gap
11 Nov 2021 BNZ and brokers; What's happening? Three year rates at 5%
11 Nov 2021 Former Fidelity exec joins Cigna
11 Nov 2021 Synergy creates portfolio supermarket
10 Nov 2021 NZ shares fall as Pushpay touches 12-month low
10 Nov 2021 Most bank customers earning nothing
10 Nov 2021 BNZ gets more business from advisers, but that may change
09 Nov 2021 NZ shares up as earnings results loom
09 Nov 2021 House prices should fall next year - Westpac
09 Nov 2021 BNZ's profit up 74%
09 Nov 2021 Cigna campaign benefits customers and advisers
09 Nov 2021 AIA offers Best Doctors to group scheme customers
09 Nov 2021 No jab, no job - legal rights in the workplace
09 Nov 2021 Codes must have consequences
08 Nov 2021 NZX 50 falls as F&P Healthcare slips
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