GoodReturns
Archive - 2015
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November 2015
11 Nov 2015 Housing market still a risk - RBNZ
11 Nov 2015 Financial Stability Report released
11 Nov 2015 Risks facing financial system have increased
11 Nov 2015 AIA hands in FSC notice
11 Nov 2015 What you need to know about income funds
10 Nov 2015 Plus4 Insurance Solutions adds adviser in Auckland
10 Nov 2015 Partners Life quits FSC over MJW report
10 Nov 2015 Auckland market drops
10 Nov 2015 Accelerate housing, infrastructure - IMF
10 Nov 2015 Unique cycle may have surprises in store
10 Nov 2015 Inspiring investors into action
10 Nov 2015 Banking firms leave New Zealand
10 Nov 2015 How using managed ETF portfolios can help advisers grow their business
10 Nov 2015 Waning research options a worry
09 Nov 2015 Reduce developer charges, reduce housing costs
09 Nov 2015 Labour cuts CGT from party policies
09 Nov 2015 Japan: Paying the piper 30 years on
09 Nov 2015 Retirees not living on Super alone
09 Nov 2015 Landlords can forget CGT worries
08 Nov 2015 Two big name fund managers join SmartShares board
06 Nov 2015 Hanover investors set to see repayment
06 Nov 2015 nib expands its distribution
06 Nov 2015 Partners, Ballantyne and Asteron pick up Awards
06 Nov 2015 Confidence in rising house prices dwindling
06 Nov 2015 AMP reveals 14 enhancements
06 Nov 2015 Westpac plays copy cat; Take our lending survey
05 Nov 2015 FMA grabs NZ Super man
05 Nov 2015 Auctions will be back
05 Nov 2015 Managers behaving badly
05 Nov 2015 Squirrel promises 'market-beating' low rates
05 Nov 2015 Competition cited as a reason to cut commission
05 Nov 2015 Warning correct, despite recovery
04 Nov 2015 Real estate index launched
04 Nov 2015 Bright line tax inches closer
04 Nov 2015 FSC must fix its own ructions before it can fix industry
04 Nov 2015 Auckland prices slow... for now
04 Nov 2015 A home loan rate goes UP; new market leading price; Auckland takes a hit
04 Nov 2015 Advisers ask for fee option
04 Nov 2015 IRD seeks feedback on fees
03 Nov 2015 Equity markets recover
03 Nov 2015 Lack of clarity around new LVRs
03 Nov 2015 Auckland still driving national values up
03 Nov 2015 Big drop in houses for sale near Auckland
03 Nov 2015 ANZ says no OCR cuts for Christmas
03 Nov 2015 Planning review crucial for housing
03 Nov 2015 ANZ takes contrary view on next OCR hike
03 Nov 2015 Major players quit FSC
03 Nov 2015 Advisers complain of paperwork deluge
03 Nov 2015 Spike in adviser complaints: FSCL
03 Nov 2015 Fraudster denied Supreme Court bid
02 Nov 2015 Health insurance coverage increases
02 Nov 2015 New online bond system to benefit smaller landlords
02 Nov 2015 Adviser KiwiSaver schemes lose share
02 Nov 2015 Squirrel promises low rates
02 Nov 2015 All change for products and pricing
02 Nov 2015 HSBC cuts
01 Nov 2015 Squirrel Money launches
October 2015
31 Oct 2015 Overcoming red tape development obstacles
30 Oct 2015 Asteron accepts award, predicts change ahead
30 Oct 2015 Straight fours for The Co-operative Bank
30 Oct 2015 More AML breaches likely
29 Oct 2015 Council committed to options not value cutting
29 Oct 2015 RBNZ pushes pause on OCR
29 Oct 2015 OCR: Unchanged for now; Details here
29 Oct 2015 OCR: What the governor said
29 Oct 2015 Volatility prompts 500pc lift in switches
29 Oct 2015 Smartshares launches more ETFs
28 Oct 2015 Debt to income limits could slow down investors
28 Oct 2015 Broker channel working for BNZ
28 Oct 2015 Investors not as risky as RBNZ suggested - Treasury
28 Oct 2015 Former adviser sentenced
28 Oct 2015 Kiwibank warned over AML
28 Oct 2015 Little agreement on merits of multiple schemes
28 Oct 2015 nib tweaks policies
27 Oct 2015 Apartment market still dominated by investors
27 Oct 2015 Decline in high LVR lending to investors
27 Oct 2015 Fidelity notes adviser support
27 Oct 2015 Sovereign's new distribution boss
27 Oct 2015 More Code changes planned
26 Oct 2015 Hamilton: river city on a roll
23 Oct 2015 FundSource announces new research partnership
23 Oct 2015 Housing market dangers
23 Oct 2015 No cut expected for OCR
23 Oct 2015 Kepa seeks investment advice support
22 Oct 2015 Auckland mortgage fraud under investigation
22 Oct 2015 Rising apartment rents benefit investors
22 Oct 2015 KiwiSaver hits negative returns
22 Oct 2015 Lessons, not rules, from Aussie experience
22 Oct 2015 Tips for stress free landlording
21 Oct 2015 Land supply key to housing issues
21 Oct 2015 Migration hits another record high
21 Oct 2015 Bank close to full house of sub 5% fixed rates
21 Oct 2015 Do advisers need an ad campaign?
20 Oct 2015 TSB ups Fisher share
20 Oct 2015 Goldman Sachs shifts trading
20 Oct 2015 New SHARE advisers
20 Oct 2015 LVR restrictions will dampen Auckland market
20 Oct 2015 No fears of bear market, AMP Capital says
20 Oct 2015 AMP launches app
20 Oct 2015 Advisers' perception problem
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.
2 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.
2 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.
4 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…
4 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