GoodReturns
Archive - 2003
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November 2003
19 Nov 2003 House of the rising sum no more
19 Nov 2003 Landowners turn lawbreakers
18 Nov 2003 Super fund set to be big earner
18 Nov 2003 Fund managers should support RFRM: Shewan
17 Nov 2003 Market timing: Bad timing
17 Nov 2003 Shewan new chairman
17 Nov 2003 Adviserlink Practice Management
17 Nov 2003 Broker pinged for misleading claims
17 Nov 2003 New Zealand Rental Property Investing
17 Nov 2003 DIY limit 'not set in concrete'
17 Nov 2003 Broker pinged for misleading claims
17 Nov 2003 Huge penalty in tax case
17 Nov 2003 Albany mall to dwarf them all
17 Nov 2003 Real Estate Agent Changes In Wind
17 Nov 2003 Air to Newmarket's retail throne
17 Nov 2003 News Round Up
17 Nov 2003 Property problems: Builder's threats probably hold no ground
17 Nov 2003 Interest rate rise sooner or later, say economists
17 Nov 2003 Abundance of good economic news gives Bollard a headache
16 Nov 2003 Cash flush Labour should cut taxes
14 Nov 2003 SIFA – Winter Conference 2003
13 Nov 2003 St Laurence to merge property syndicates
13 Nov 2003 Morningstar conference roadshow
13 Nov 2003 Sellers enjoy good times
13 Nov 2003 Smashing attack on property agent
13 Nov 2003 New chief opertaing officer at GTFM
13 Nov 2003 Listed trust to buy SIL and MFL properties
12 Nov 2003 Interest to pay on low jobless figures
12 Nov 2003 Big site gets $8m for Kiwi
12 Nov 2003 Economists bring rate hike forward
12 Nov 2003 Fixed mortgages heading up
12 Nov 2003 ASFA National Conference 2003
12 Nov 2003 Morningstar conference roadshow
12 Nov 2003 Economists bring rate hike forward
11 Nov 2003 Business as usual for BT despite market timing scandal
11 Nov 2003 News Round Up
11 Nov 2003 AM Best gives Sovereign an A
11 Nov 2003 Morningstar conference roadshows
11 Nov 2003 Servicing high-cost loans an increasing burden
11 Nov 2003 Hewes joins AIA
10 Nov 2003 Adviserlink Investments & Risk Management
10 Nov 2003 Fisher Funds stand out
10 Nov 2003 Adviserlink Practice Management
10 Nov 2003 BNZ picks March rate hike
10 Nov 2003 Coping with those bumps in the night
10 Nov 2003 'Nightmare' tenants putting landlords off
10 Nov 2003 Auckland Property Market Continues Strong Run
10 Nov 2003 Govt announces overseas investment review
10 Nov 2003 Turnaround in the market
10 Nov 2003 Fire stings absent flatmates with huge damages bill
09 Nov 2003 Financial Planner of the Year Finalists
07 Nov 2003 State Sector Retirement Savings Scheme
07 Nov 2003 Risk evaluation paints alarming picture
07 Nov 2003 Aon appoints Stephen Howarth
07 Nov 2003 Europe is the place for intl bonds
06 Nov 2003 Women in Super want compulsory workplace savings schemes
06 Nov 2003 ASFONZ applauds Government's workplace savings initiative
06 Nov 2003 Perpetual Investments Adviser Briefing
06 Nov 2003 Govt sets savings example
06 Nov 2003 AMP welcomes state sector saving plan
06 Nov 2003 Greens Seek Prime Land Sale Ban
06 Nov 2003 Property deal turns sour
06 Nov 2003 Cullen Believed To Be Bluffing Over $
06 Nov 2003 RBNZ expected to bide time
06 Nov 2003 Heartland victims doubt boom claim
06 Nov 2003 Your first time?
06 Nov 2003 Million ready to brave the housing bubble (Australia)
06 Nov 2003 Warning for buyers over campus noise
06 Nov 2003 There goes the neighbourhood
06 Nov 2003 Cullen in bid to curb dollar
05 Nov 2003 Govt sets savings example
05 Nov 2003 Support for new savings scheme
05 Nov 2003 Government move supported
05 Nov 2003 State sector workers to get retirement savings help
05 Nov 2003 Grosvenor gets into group insurance
05 Nov 2003 Perpetual Investments Adviser Briefing
05 Nov 2003 Care urged over property seminars
05 Nov 2003 Buy house, don't rent, young told
05 Nov 2003 Auckland council cuts loom after leaky house claims
05 Nov 2003 Grand progress at SkyCity site
05 Nov 2003 Shore studies effect of infill housing
05 Nov 2003 North builders too busy for school projects
05 Nov 2003 NZ economy a cut above
05 Nov 2003 Property Boom Boosts Confidence
05 Nov 2003 Property boom hits Whakatane
05 Nov 2003 Developer claims IRD persecution
05 Nov 2003 Property problems: Ratchet clause likely to govern motel's lease
05 Nov 2003 Rates go up and ... away
05 Nov 2003 Think outside the square
05 Nov 2003 Boomer market gets hotter
04 Nov 2003 NZRPT's tax problems far from solved
04 Nov 2003 FGNZ leaves Mortgage Alliance
04 Nov 2003 Market Review : The Challenges and Opportunities in China
04 Nov 2003 Grey Power Welcomes National's Super Policy
04 Nov 2003 Perpetual Investments Adviser Briefing
03 Nov 2003 Money Managers comments damage industry: ASCB
03 Nov 2003 Adviserlink Investments & Risk Management
03 Nov 2003 Adviserlink Investments & Risk Management
03 Nov 2003 Adviserlink Fundamentals & Processes
03 Nov 2003 Sovereign appoints doctor to claims team
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.
1 day 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.
1 day 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.
3 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…
3 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