GoodReturns
Archive - 2022
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November 2022
30 Nov 2022 Interest rates go up
30 Nov 2022 Investors need to step up to tackle climate change
29 Nov 2022 Fisher & Paykel pulls market significantly higher
29 Nov 2022 ComCom probes SBS over CCCFA
29 Nov 2022 Westpac makes progress on compliance but more work remains
29 Nov 2022 Wealth managers slow on climate change
28 Nov 2022 NZ market tracks lower as retirement stocks perk up
28 Nov 2022 Cash is king for underground landlords
28 Nov 2022 Interest rate relief “less far off”
28 Nov 2022 ‘Excess dividends’ in the Electricity sector - the other side of the argument
28 Nov 2022 SmartShares sets growth target
25 Nov 2022 Ryman Healthcare jumps 7% after difficult week
25 Nov 2022 Wealthpoint recognised for delivery to members
25 Nov 2022 Financial advisers to be referred to disciplinary body
25 Nov 2022 Apartment development set for third highest record
24 Nov 2022 NZ market steady as company's report weaker profits
24 Nov 2022 What the OCR increase means to mortgage holders
24 Nov 2022 New Fidelity Life scholarships aim to lift financial adviser diversity
24 Nov 2022 Squeeze on mortgage holders deepens
24 Nov 2022 Four reasons to get a rental chattels valuation
24 Nov 2022 Median balance at 65 for KiwiSaver drawdown to current 50-year-olds
24 Nov 2022 RBNZ hawkish on inflation
23 Nov 2022 NZ market feels the pain as Reserve Bank warns of recession
23 Nov 2022 Ouch! OCR up 75 basis points
23 Nov 2022 Biggest OCR rise ever: Here's what the governor said
23 Nov 2022 Broad support for regulation of property mangers
23 Nov 2022 Putting a locum into your firm may be harder than you think
23 Nov 2022 Lack of regulation details frustrates property managers
23 Nov 2022 NZX buys Quay Street
22 Nov 2022 Ryman drags down NZ stock market
22 Nov 2022 Property King rides off into the sunset as new laws emerge
22 Nov 2022 Claws out over clawbacks; Major shake up of property managers
22 Nov 2022 Castle Point disclaimer
22 Nov 2022 Santa Pause could be coming to the rescue
22 Nov 2022 Regulation for property managers and meth tests
22 Nov 2022 Advisers, clients urged to be clear on clawbacks
21 Nov 2022 NZ market quiet as all eyes on Reserve Bank decision
21 Nov 2022 Big OCR rise predicted this week
21 Nov 2022 Traction on plans to fix rental crisis
21 Nov 2022 Big rise in OCR expected
21 Nov 2022 Mint Asset Management appoints new role
21 Nov 2022 Squirrel expands peer to peer lending
20 Nov 2022 nib adds to its orbit
18 Nov 2022 OPINION: Putting the ESG backlash into perspective
18 Nov 2022 How to get the best value for your book
18 Nov 2022 My Food Bag falls as energy retailers rise
18 Nov 2022 Former van Eyk Research CEO sentenced
18 Nov 2022 Profit taking from houses dropping
18 Nov 2022 Boom lowered on recalcitrant council
18 Nov 2022 Ethical investment returns the goods
18 Nov 2022 KiwiSaver mirrors difficult market in Q3
18 Nov 2022 How to get the best value for your book
17 Nov 2022 Goodfellow family sells off even more of its Sanford stake
17 Nov 2022 David Clark defends CCCFA but wins little support
17 Nov 2022 AA Insurance names new CEO
17 Nov 2022 Clark defends CCCFA but wins little support
17 Nov 2022 Review could ease pressures and broaden scope of advice in Australia
17 Nov 2022 Avanti wins prize at non bank awards dinner
16 Nov 2022 Pacific Edge shares edge up
16 Nov 2022 No pay rise coming for advisers
16 Nov 2022 Much bigger drop than predicted for house prices
15 Nov 2022 Property stocks weaker as market rises slightly
15 Nov 2022 Customer desire for RI info is an opportunity
15 Nov 2022 ANZIIF grabs 3 industry panellists for breakfast
15 Nov 2022 A deep dive into Westpac's results
15 Nov 2022 Prolonged collapse of house prices and sales
15 Nov 2022 Don't expect higher commission rates
14 Nov 2022 NZX50 falls as investors 'take a breather'
14 Nov 2022 Video - Bank lending margins gobble KiwiSaver savings
14 Nov 2022 Asteron Life benefit add on may add value to Kiwi’s lives
14 Nov 2022 Fidelity makes good on commitment and names Adviser council
14 Nov 2022 Property insurance rarely adequate
12 Nov 2022 Bank lending margins gobble KiwiSaver savings
11 Nov 2022 Ebos Group leads market higher in rally sparked by positive US inflation data
11 Nov 2022 Mortgage Link adds some spice; RBNZ gets clearance
11 Nov 2022 Mortgage Link spices up its home loan offering
10 Nov 2022 New Zealand market falls despite strong earnings
10 Nov 2022 Quest Insurance names new director
10 Nov 2022 RBNZ cleared of criticism over handling of pandemic
10 Nov 2022 Data sharing comes closer for borrowers
10 Nov 2022 ANZ adds ninth BDM
10 Nov 2022 Responsible investing is the bedrock of engaged philanthropy
10 Nov 2022 Insurance Link gets new owner
10 Nov 2022 Partners sale gets tick
10 Nov 2022 DTIs just won't go away
10 Nov 2022 Huge falls in house prices this year
10 Nov 2022 Debt to income limits come nearer for borrowers
09 Nov 2022 Manawa Energy led NZ market lower after disappointing earnings
09 Nov 2022 Fidelity continues to adapt in a challenging environment
09 Nov 2022 BNZ adds to banking profits
09 Nov 2022 Call for targeted foreign residential property buying to start again
09 Nov 2022 Creating a brighter, more sustainable future
09 Nov 2022 Cigna offering free cover - for some
09 Nov 2022 Survey shows inflation staying high
09 Nov 2022 Financial advisers need to work harder: Bagrie
08 Nov 2022 Westpac KiwiSaver picks up new members
08 Nov 2022 Captain Orr keeps the wheel; BNZ reports $1 bill + profit and more
08 Nov 2022 Australian consumer sentiment, China drag market down
08 Nov 2022 [BREAKING NEWS] Mortgage Link gets a new owner
08 Nov 2022 Link Financial Group gets new owner
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.
20 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.
22 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