GoodReturns
Archive - 2013
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October 2013
25 Oct 2013 [Weekly Wrap] KiwiSaver still the buzz
25 Oct 2013 OCR decision a balance of dollar vs inflation
25 Oct 2013 Asteron pips the big boy for award
25 Oct 2013 Submissions close on code draft
25 Oct 2013 Young people more interested in investing: Alexander
25 Oct 2013 Call to enforce insulation
24 Oct 2013 FMA reports on KiwiSaver
24 Oct 2013 Coote joins AMP
24 Oct 2013 Disputes scheme tees off with new name
24 Oct 2013 Treasury recommends capital gains tax
24 Oct 2013 Investors seek capital gains
23 Oct 2013 Triplejump eyes global expansion
23 Oct 2013 Lending rates slowing
23 Oct 2013 Opportunities for advisers in KiwiSaver requirements
23 Oct 2013 Squeeze on commercial property
22 Oct 2013 Advisers wary of dabbling in online sales
22 Oct 2013 AIA on a mission to break the cycle of under-insurance
22 Oct 2013 KiwiSaver information available, if you can find it
22 Oct 2013 Skip auctions if you want to sell to first-timers, agents told
21 Oct 2013 LVR limits won't affect OCR yet: ASB
21 Oct 2013 Reporting regime in effect
21 Oct 2013 Peters misses mark on fees
21 Oct 2013 AIA on a mission to break the cycle of under-insurance
21 Oct 2013 Lifestyle market shortage looming
18 Oct 2013 [Weekly Wrap] KiwiSaver advice addressed again
18 Oct 2013 Jennings gets a gong
18 Oct 2013 Disappointment lifestages not adopted for default funds
17 Oct 2013 'Impartial advice' a default requirement
17 Oct 2013 One path for one GM and another for three others
17 Oct 2013 The answer to bad investment decisions
17 Oct 2013 Westpac predicts price falls
16 Oct 2013 Deal over KiwiSaver trail commissions goes sour
16 Oct 2013 Rush on valuers as owners seek equity
15 Oct 2013 Super fund adds new passive manager
15 Oct 2013 Westpac reassesses preapprovals
15 Oct 2013 Last annuity provider to exit market
15 Oct 2013 Auckland commercial investors most confident
14 Oct 2013 Tax treatment disadvantages KiwiSavers
14 Oct 2013 Landlords benefit as first-home buyers retreat
14 Oct 2013 REINZ reports spring surge
13 Oct 2013 Fund managers under spotlight
13 Oct 2013 AMP reshuffles leadership team
11 Oct 2013 [Weekly Wrap] What makes a professional body?
11 Oct 2013 RESIMAC restricts low equity lending
11 Oct 2013 Patch protection blamed
11 Oct 2013 Low equity loans for good brokers only
11 Oct 2013 Whitburn: Labour's housing policies better
10 Oct 2013 More deals offered for those with equity
10 Oct 2013 ANZ's two-tier home loan rates
10 Oct 2013 RBNZ predicts turnover drop
10 Oct 2013 National affordability improves but regions vary
09 Oct 2013 Tax change could alter investment behaviour
09 Oct 2013 Economic momentum still building
09 Oct 2013 Taking professional bodies out of the equation 'a boost'
09 Oct 2013 Special housing areas announced
09 Oct 2013 QV predicts activity flurry
08 Oct 2013 KiwiSaver scheme closes
08 Oct 2013 The Federal Reserve recants
08 Oct 2013 Ralph Stewart returns with new product
08 Oct 2013 Supply the issue: Harcourts
07 Oct 2013 How much research must advisers do on equities?
07 Oct 2013 Active v passive: The great debate
07 Oct 2013 KiwiSaver advice debate not necessarily done and dusted
07 Oct 2013 LVR move worries investors
06 Oct 2013 Make sure policies cover what clients need: Southern Cross
04 Oct 2013 [Weekly Wrap] Committee responds to feedback
04 Oct 2013 Wheeler explains why loan-to-value ratios were introduced
04 Oct 2013 Banks' interest margin up
04 Oct 2013 Professional bodies 'will have to push harder' on CPD
04 Oct 2013 Harcourts, Barfoot at odds
04 Oct 2013 Restrictions' impact not sustained: Report
03 Oct 2013 Draft version of revised code released
03 Oct 2013 Tate hopes the next IFA chief executive lasts longer
03 Oct 2013 It could take months to see LVR impact: Agency
02 Oct 2013 Partners Life turns loss to profit
02 Oct 2013 LVR restrictions 'could spark complaints'
02 Oct 2013 Milford adds fund
02 Oct 2013 Older lives still need cover
02 Oct 2013 Former non-bank lender joins TNP
02 Oct 2013 Act penalties insufficient
02 Oct 2013 Building consents slow
02 Oct 2013 LVR restrictions 'could spark complaints'
01 Oct 2013 Delay in draft of proposed new advisers' code
01 Oct 2013 IFA CEO resigns
01 Oct 2013 Govt gifts deposits to regional buyers
01 Oct 2013 Record asking price recorded
September 2013
30 Sep 2013 Fixed interest a fine balance for advisers
30 Sep 2013 GPG sells out of TOWER
30 Sep 2013 Kiwi money man has assets frozen and passport surrendered
30 Sep 2013 Changes to ASB rates
30 Sep 2013 8 in a row for Sovereign
30 Sep 2013 Time to rethink reporting of returns
30 Sep 2013 Five months for plan submissions
30 Sep 2013 Short-term LVR effect predicted
29 Sep 2013 Watch out for new non-smokers: ISO
27 Sep 2013 The future of pre-approvals in doubt
27 Sep 2013 [Weekly Wrap] Ross still making headlines
27 Sep 2013 LVR moves slowing housing supply
26 Sep 2013 Adviser fined for using Ross Asset Management
26 Sep 2013 RBNZ 'learning by doing'
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".
3 days ago Paul Flood