GoodReturns
Archive - 2004
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March 2004
24 Mar 2004 Women in Super
24 Mar 2004 Low income and overcrowding cited as reasons for TB rise
24 Mar 2004 Government set to ditch customary title concept
24 Mar 2004 Australians think free broking claim's dubious
24 Mar 2004 Buy or sell?
24 Mar 2004 House buyer warning
23 Mar 2004 Russell issues warning on LICs
23 Mar 2004 Golden rules for investing in LICs
23 Mar 2004 Australians think free broking claim's dubious
23 Mar 2004 Risks in setting up own trust companies
23 Mar 2004 Bancorp extending offer period for merger arbitrage fund
23 Mar 2004 Protecting landlord's access to tenant credit checks
23 Mar 2004 'RAM the ARC !' says political voice of Rates Revolt
23 Mar 2004 The people versus the ARC
23 Mar 2004 MFS Pacific Finance lunch seminar
23 Mar 2004 Green light for $20m spa resort
23 Mar 2004 Lessees' freehold hopes dashed
23 Mar 2004 Record Property Sales In Southland
23 Mar 2004 Dollar's next big move down, says BNZ
23 Mar 2004 Building law passes early test
23 Mar 2004 Mortgage brokers may need annual accreditation
23 Mar 2004 $11m for watersport bumps up city rates
23 Mar 2004 Tax Relief On The Horizon
23 Mar 2004 Bayleys Waikato asked to explain
23 Mar 2004 Global housing market 'teetering near collapse'
23 Mar 2004 Otago property prices up 48pc on February '03
23 Mar 2004 Property prices defy predictions
23 Mar 2004 Nelson house prices slide again
23 Mar 2004 State acts to protect flat developers - Australia
23 Mar 2004 Ask the analyst: Riding the dollar
23 Mar 2004 Wave builds for Loansurf
23 Mar 2004 Million dollar properties take off in Christchurch
23 Mar 2004 Property investment plummets - Australia
22 Mar 2004 Industry pushes for radical reform of tax
22 Mar 2004 Adviserlink Investments & Risk Management
22 Mar 2004 Resistance to retirement saving reaching critical point
22 Mar 2004 Mortgage brokers may need annual accreditation
21 Mar 2004 Why everyone wants a LIC
21 Mar 2004 Commodities fund captures attention
21 Mar 2004 Hayward replaces Dyer at AMP
19 Mar 2004 Fundsource Professional Investment Conference 2004
19 Mar 2004 Bridgecorp BB+ equivalent
18 Mar 2004 Column: NZ Superannuation not so super
18 Mar 2004 House sales and prices robust in February
18 Mar 2004 Commission stops property offer
17 Mar 2004 Tennent-Brown to join ASB
17 Mar 2004 Super funds fees to be laid bare
17 Mar 2004 Wave builds for Loansurf
17 Mar 2004 Super funds fees to be laid bare
15 Mar 2004 Market timing enquiry passes deadline
15 Mar 2004 Two-year home loan rates a bargain
15 Mar 2004 Adviserlink Fundamentals & Processes
15 Mar 2004 Adviserlink Business Financial Services
15 Mar 2004 Two-year home loan rates a bargain
15 Mar 2004 Good home loan growth for Kiwibank
15 Mar 2004 News Round Up
14 Mar 2004 RBNZ should stop surprising the market: economist
14 Mar 2004 Wellington CBD 'best property performer'
14 Mar 2004 Computer selection on road to riches - Mary Holm
14 Mar 2004 Peeping at your credit rating
14 Mar 2004 Timber's knotty promise for investors
14 Mar 2004 Banks move to protect borrowers
13 Mar 2004 Macquarie's new bdm
13 Mar 2004 Levy to drive up house prices
13 Mar 2004 Ratepayers facing hefty increases
13 Mar 2004 CDHB unanimously votes to sell land in Hanmer
13 Mar 2004 DOC plan could mean end to baches
13 Mar 2004 Millions 'at risk' in dollar dealing
12 Mar 2004 RBNZ should stop surprising the market: economist
12 Mar 2004 RBNZ should stop surprising the market: Economist
11 Mar 2004 Top questions and answers on trusts
11 Mar 2004 RBNZ leaves OCR at 5.25%
11 Mar 2004 Trans Tasman buys prime Hong Kong retail property
11 Mar 2004 Investors to vote on takeover deal
11 Mar 2004 Property swap ends in acrimony
11 Mar 2004 Asteron changes underwriting team
11 Mar 2004 RBNZ leaves OCR at 5.25%
11 Mar 2004 Pero sells control in business
11 Mar 2004 Insurance Assessors Flat Out
11 Mar 2004 Uncertainty remains over legality of some AUTs
10 Mar 2004 True to Life
10 Mar 2004 NZ Super fund appoints two more intl managers
10 Mar 2004 Pero sells control in business
10 Mar 2004 Top questions and answers on trusts
10 Mar 2004 No chop, but a fine tune for commissions
10 Mar 2004 Big bills loom for house owners
10 Mar 2004 Investors rush to gold IPO
10 Mar 2004 House sales up last month
10 Mar 2004 $53m luxury complex for Napier
10 Mar 2004 North Shore is safest place to live
10 Mar 2004 Residents rally to fight council
10 Mar 2004 Waikato building industry 'buoyant'
10 Mar 2004 Property Market Bubbling Along
10 Mar 2004 Court Could Take Action Against BIA
10 Mar 2004 Sovereign expands investment development team
09 Mar 2004 Setting and disclosing tax assets
09 Mar 2004 Top questions and answers on trusts
09 Mar 2004 Tamihere refutes article
09 Mar 2004 AUT tax loophole could be changed within weeks
08 Mar 2004 Adviserlink Investments & Risk Management
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
I agree with the "prevalence-induced" concept. It is definitely not Advisers re-defining what we're seeing or over-reacting to the "maturing" of regulation. The concept Steve put forward suggests that as the problem becomes less frequent, the criteria used to define the problem expands, resulting in lesser problems being treated like greater problems. The root of the regulations we have is based in answering questions nobody asked, addressing problems Advisers did not cause. Such as blaming investment advisers for the losses direct investors took from finance company collapses, or allowing lobbyists to succeed in defining BEOT VIOs' sales processes as "advice". So from the beginning - 2011 onwards - there has been so little prevalence of problematic advisers causing terrible outcomes through faulty advice processes that it does appear that the regulators are defining lesser problems as greater. Paul – the “rules” are not rules. Everyone knows what a forward pass is, and we all know that a whiskey still counts as a stroke. Our regulations are mostly principles supported by vague guidance notes. You have correctly pointed out that there has been a lighter touch at times, and perhaps a sledgehammer at other times. To a FAP owner that looks like inconsistency. With no clear safe zone, just vague principles to abide by, and watching patchy and inconsistent enforcement, FAPs have taken an approach to documentation and processes that are now being criticised by the same people who won’t set a bar. But they will say we’re jumping too dam high. “Size it right” is an insulting suggestion from someone who won’t say what the right size is. Recall people like Brent Sheather and Murray Weatherston openly and rightfully questioning what on earth was the problem these regulators and regulations were meant to solve? Recall also their criticism of the revolving door between the regulator and the regulated. If it feels like they are moving the goal posts it’s because they are starting to approach molehills with climbing gear. The hills are the same size. And they were never that big.
13 hours ago agressively passive
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.
3 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.
3 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.
5 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…
5 days ago Jon-Paul Hale