GoodReturns
Archive - 2017
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October 2017
30 Oct 2017 Strong growth in Hawke’s Bay
30 Oct 2017 Kiwibank cuts mid and long term rates
29 Oct 2017 nib gets its latest rating report card on its performance
27 Oct 2017 Getting to Know: Nigel Scott
27 Oct 2017 The Wrap: Deadlines for changes clearer (maybe)
27 Oct 2017 Smartshares hits $2b FUM
27 Oct 2017 KiwiSaver fees and risk; Fisher Funds’ future
27 Oct 2017 Introducing Good Returns TV
27 Oct 2017 KiwiSaver: Next crunch could be tougher
26 Oct 2017 Commerce Commission: No issues for Sovereign
26 Oct 2017 Kepa, The Advisers Institute, reveals new partner
26 Oct 2017 PAA AGM cancelled due to lack of interest
26 Oct 2017 Financial Advice New Zealand launch date set
25 Oct 2017 ANZ: No more repayment holidays
25 Oct 2017 Twyford takes the reins
25 Oct 2017 Mortgage Express boosts Wellington team
25 Oct 2017 Your new boss revealed
25 Oct 2017 Westpac meets the market with two-year rate
25 Oct 2017 Russell rolls out low carbon fund
25 Oct 2017 From NZ Super Fund to FNZC
25 Oct 2017 Work on incomes, global pension report says
25 Oct 2017 PAA AGM fails to hit quorum
24 Oct 2017 Mortgage advisers: start thinking about your education now
24 Oct 2017 Lessons from RBOHA
24 Oct 2017 Rental prices could spike
24 Oct 2017 Dealer groups as part of your plan
24 Oct 2017 One low rate replaced with another - details here
24 Oct 2017 6 affordable buys for investors
24 Oct 2017 FSLAB could be slower
23 Oct 2017 Robo-advice: The democratisation of professional financial advice
20 Oct 2017 Perpetual Guardian steps up in the Know Your Customer space
20 Oct 2017 Looking ahead with new government
20 Oct 2017 Partners Life hires sales boss
20 Oct 2017 Changes in housing policy to come
20 Oct 2017 Migration decline continues
20 Oct 2017 Getting to Know: Jon-Paul Hale
20 Oct 2017 Regulators collaborate on fintech
19 Oct 2017 Insurers support robo options
19 Oct 2017 No signs of panic
19 Oct 2017 Should lawyers give financial advice?
19 Oct 2017 New code's wider scope helps advisers: Chairman
18 Oct 2017 Former PM to chair ANZ
18 Oct 2017 Former PM to chair ANZ
18 Oct 2017 No NZ fall-out from Australian sale
18 Oct 2017 FMA fast-tracks roboadvice
18 Oct 2017 BNZ signs on to AML tool
17 Oct 2017 Don't choose KiwiSaver funds on fees only (+ GRAPH)
17 Oct 2017 High risk rental success
16 Oct 2017 Investors remain confident in property
16 Oct 2017 Market healthy – despite election doubt
16 Oct 2017 Advice firms merge
16 Oct 2017 Leverage up your KiwiSaver fund
13 Oct 2017 Jail for $5.4m Ponzi
13 Oct 2017 Getting to Know: Lyn McMorran
13 Oct 2017 Sharpening rates for Spring
13 Oct 2017 AMP rings changes
13 Oct 2017 KiwiSaver fees: Paying for performance
12 Oct 2017 Where to park
12 Oct 2017 Price rise could be market rebalancing
12 Oct 2017 Kiwi investor experience improving: Morningstar
12 Oct 2017 Advisers lack client files
11 Oct 2017 Ponzi scheme guilty plea
11 Oct 2017 Kickbacks to agents shouldn't happen, but do
11 Oct 2017 FMT nabs ANZ BDM
11 Oct 2017 What tenants really want
11 Oct 2017 Prices fall, affordability improves
11 Oct 2017 Note From A Big Country
11 Oct 2017 Entity licensing 'boosts risk'
11 Oct 2017 Adviser firm chairman retires
11 Oct 2017 Asteron launches online application tool
10 Oct 2017 Appeal of former hot spots dims
10 Oct 2017 Sharemarket success no easy ride
10 Oct 2017 New nib partnership to target visitors
09 Oct 2017 Fisher Funds: Industry should pull together
09 Oct 2017 Short stays big pays
07 Oct 2017 'Adviser cull' could hit NZ
06 Oct 2017 Speeding up the consents process
06 Oct 2017 Getting to Know: Anand Srinivasan
06 Oct 2017 Ralph Stewart's Lifetime picks up former Tower business
06 Oct 2017 FMA: Advisers can help clients avoid scams
05 Oct 2017 Landlords urged to get onto insulation
05 Oct 2017 New class action on leaky homes
05 Oct 2017 FMA to KiwiSaver providers: We are getting impatient
04 Oct 2017 ANZ chief economist calls it a day
04 Oct 2017 Auckland sales fall further
04 Oct 2017 Quarterly value chill
04 Oct 2017 Edmonds' fund supermarket takes out competitor
03 Oct 2017 Making meth testing easier
03 Oct 2017 ANZ chief economist calls it a day
03 Oct 2017 ASB's turn; New (old) lender returns
03 Oct 2017 Clients' sense of security 'most important'
02 Oct 2017 TSB ditches bank name
02 Oct 2017 SBS offers 10-year bond
02 Oct 2017 ASB chief executive steps down
02 Oct 2017 Are you part of someone else’s plan?
02 Oct 2017 HSBC launches sub 4% home loan rate
02 Oct 2017 Tauranga growth slow & steady
02 Oct 2017 Pathfinder focuses on responsibility
02 Oct 2017 Spicers brand disappears
01 Oct 2017 Australian non-bank lender set to return to NZ
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.
12 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.
15 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