GoodReturns
Archive - 2023
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November 2023
29 Nov 2023 Weaker than expected
29 Nov 2023 [GRTV] Coolabah Capital: new funds and long-short strategies
29 Nov 2023 Sharesies KiwiSaver, including self-select feature, goes to market
28 Nov 2023 NZ sharemarket bounces as energy stocks lift
28 Nov 2023 ASB's mortgage book shrinks
28 Nov 2023 Auckland FAP has its licence cancelled
28 Nov 2023 The ‘Magnificent Seven’ and the Rise of Self-Directed Investing
28 Nov 2023 New Government – new property rules
28 Nov 2023 Level 5 certificate draft up for feedback in new year
27 Nov 2023 NZ sharemarket falls as investor await Reserve Bank news
27 Nov 2023 Generate commits NZD55 million to private equity
27 Nov 2023 ASB's mortgage book shrinks as ANZ, Kiwibank grow market share
27 Nov 2023 Economists, markets debate timing of first OCR cut
27 Nov 2023 NZXWT speeds things up with new API
26 Nov 2023 ASB gets aggressive
25 Nov 2023 Milford appoints new board member
25 Nov 2023 Smoker or non-smoker? Are you sure?
25 Nov 2023 RBNZ stays on hold as economists, markets debate timing of first OCR cut
24 Nov 2023 NZ shares perk up as coalition details announced
24 Nov 2023 NZ shares perk up as coalition details announced
24 Nov 2023 RIAA becomes twin-headed organisation
24 Nov 2023 The first bank rate cut
24 Nov 2023 US-based TA Associates mulls sale of 34% Fisher Funds stake
24 Nov 2023 Sustainable impact fund typically 10-15% of portfolio for ethical investors
23 Nov 2023 NZ sharemarket adrift and directionless
23 Nov 2023 Payments NZ wants changes; TMM annual survey
23 Nov 2023 Payments NZ wants changes to open banking bill
22 Nov 2023 NZ sharemarket holds steady as Ebos dips
22 Nov 2023 Savvy cash offering to boost money management
22 Nov 2023 [The Wrap] The danger in FMA focusing on “fair outcomes”
21 Nov 2023 NZ sharemarket slips as Wall St rally continues
21 Nov 2023 Accuro members vote overwhelmingly in favour of UniMed merger
21 Nov 2023 Whyte steps down as Lifetime chairman
21 Nov 2023 Solving the rental shortage – new legislation and a change of attitude
21 Nov 2023 You can tell us about the mortgage market
21 Nov 2023 When OCR cuts will start
21 Nov 2023 OCR cuts and when they will start
21 Nov 2023 [GRTV]Selecting the right fund manager
20 Nov 2023 NZ sharemarket has late bounce
20 Nov 2023 JAVLN signs up Aussie's BJS Insurance Group for three years
20 Nov 2023 Auckland – globally expensive rents and not enough places to live
19 Nov 2023 Financial advisers unimpressed by Boomer Dad video
19 Nov 2023 Pie's new funds could start with significant tailwind
17 Nov 2023 NZ shares dip as investors wait on Ebos
17 Nov 2023 How is inflation impacting renewables?
17 Nov 2023 AIA Vitality numbers
17 Nov 2023 Robson gets new role at Milford
17 Nov 2023 Four educators represented on Level 5 working group
17 Nov 2023 Concerns over FMA's new approach to regulating
16 Nov 2023 NZ sharemarket dips on profit taking
16 Nov 2023 Dimensional has rolled out three Australian ETFs
16 Nov 2023 ANZ will continue to sell home loans directly
16 Nov 2023 Fire leaves landlord thousands of dollars out of pocket
15 Nov 2023 NZ shares rise on further hopes inflation tamed
15 Nov 2023 Mortgage lending slows to lower DTI rates
15 Nov 2023 No rush to join Fidelity in publishing turnaround times
15 Nov 2023 Asteron appoints national manager of adviser distribution
15 Nov 2023 ANZ will continue to sell home loans directly
15 Nov 2023 Passbacks - How do they work?
15 Nov 2023 What might be coming in new version of level 5 certificate
14 Nov 2023 NZ shares lift as investors contemplate inflation's peak
14 Nov 2023 Real returns from investing in structural change
14 Nov 2023 Harbour Outlook: Economic Crosscurrents
14 Nov 2023 ANZ committed to investments and funds management
14 Nov 2023 Many buyers, not enough properties again fuelling housing market
13 Nov 2023 NZ sharemarket dips on very light volumes
13 Nov 2023 Salt picks up top gong
13 Nov 2023 Ex MP named as new Fisher Funds chief executive
13 Nov 2023 Advisers dominate ANZ's new home lending; TAP is offering discount
13 Nov 2023 Mortgage advisers dominate ANZ's new home lending
13 Nov 2023 Where lenders want to put their money
13 Nov 2023 Ralph Stewart's Lifetime pick up more AMP schemes
13 Nov 2023 Health insurance premiums rose 8% in the June quarter: FSC
13 Nov 2023 TAP hoping to pick up new business with big discount
13 Nov 2023 David Boyle moves on from Mint
11 Nov 2023 Find out what's inside your next issue of TMM
11 Nov 2023 LIfetime buys advice firm
10 Nov 2023 Energy stocks lead the NZ sharemarket down
10 Nov 2023 FMA puts temporary ban on David McEwan and associates
10 Nov 2023 Number of Kiwibank customers in hardship revealed; Prospa in lower NI next week
10 Nov 2023 Kiwibank says few customers stresseed by higher mortgage rates
09 Nov 2023 NZ sharemarket returns to gaining ways
09 Nov 2023 Market share soars for first home buyers
09 Nov 2023 Mortgage advisers approach half of BNZ's new lending
09 Nov 2023 Fidelity opens up on turnaround times
09 Nov 2023 Mortgage advisers approach half of BNZ's new lending; Join Prospa in Whanganui and Palmerston North
09 Nov 2023 Do advisers need another association?
08 Nov 2023 NZ sharemarket slips as Sky TV rejects takeover bid
08 Nov 2023 Changes expected to bill regulating property managers
08 Nov 2023 [GRTV] Cracking the mass affluent market
08 Nov 2023 FBAA plans to boost advisers’ market share
07 Nov 2023 NZ sharemarket snaps winning streak
07 Nov 2023 What the FBAA reckons it can offer Kiwis; Join Prospa in Whakatane and Rotorua
07 Nov 2023 Westpac lauds CoFI's approach; What rates customers are paying
07 Nov 2023 Are equity markets due for a strong finish this year?
07 Nov 2023 Westpac lauds Cofi's principles-based approach, says CCCFA incredibly prescriptive
07 Nov 2023 Westpac says more mortgage customers face higher rates
06 Nov 2023 NZ sharemarket extends gain as Westpac kicks off bank reporting
06 Nov 2023 TSB names new CEO
06 Nov 2023 Westpac's mortgage lending slowed in the second half
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.
18 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.
21 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