GoodReturns
Archive - 2020
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November 2020
11 Nov 2020 LVR limits set to return
11 Nov 2020 What is the Reserve Bank's new plan to cut interest rates?
11 Nov 2020 Bank capital rules delayed until 2022
11 Nov 2020 Biden win boosts potential ESG boom
10 Nov 2020 Vaccine hopes prompt rotation into hardest hit covid stocks
10 Nov 2020 Southern Cross/ProCare partnership opens up virtual GP service
10 Nov 2020 Heartland 2.5% floating rate; ASB using DTI test; Pepper promise
10 Nov 2020 Adviser consultancy firms say full licensing provisions bring mandate for change
10 Nov 2020 ASB using debt-to-income ratios
09 Nov 2020 NZX 50 hits record; kiwi dollar at 18-month high
09 Nov 2020 Pepper makes trail pledge
09 Nov 2020 Heartland online floating rate falls to 2.5%
09 Nov 2020 OCR preview survey: what will the Reserve Bank do?
09 Nov 2020 [Obituary] Fred Dodds
09 Nov 2020 Elections, Covid waves come to the fore
09 Nov 2020 OCR to remain on hold: economists
06 Nov 2020 FNZ forced to sell GBST
06 Nov 2020 Synlait leads post election rally
06 Nov 2020 Tribunal divvies up blame in maintenance ruling
06 Nov 2020 [UPDATED] Full licensing rules finally released
06 Nov 2020 TSB undercuts big banks; Cashbacks back
06 Nov 2020 It’s inflation Jim but not as we know it
06 Nov 2020 Cash backs are back
06 Nov 2020 Billion dollar baby
05 Nov 2020 Equities markets rallied despite US election uncertainty
05 Nov 2020 ASB pulls in branches to help with applications; FMA gets into fintech
05 Nov 2020 COMMENT: The importance of correct structuring
05 Nov 2020 ASB using branches for broker applications
05 Nov 2020 FMA appointments reflect serious move into fintech space
04 Nov 2020 Kiwi falls as US blue wave falters
04 Nov 2020 UniMed announces new chief executive
04 Nov 2020 Billion dollar baby; Businesses finding it tough
04 Nov 2020 Strong market attracting investors
04 Nov 2020 Auckland’s average price now $1million plus
04 Nov 2020 Long Covid case highlights a new challenge for the insurance industry
04 Nov 2020 Businesses doing it tough
04 Nov 2020 FileInvite raises $2.3 million to target US financial services customers
04 Nov 2020 'Advisers take note' RIAA welcome sustainable finance roadmap
03 Nov 2020 Australian rate cut fuels NZ shares
03 Nov 2020 New board member announced at FSCL
03 Nov 2020 ANZ Bonus Bonds scheme now in wind up
03 Nov 2020 FMA unveils tough guidelines on KiwiSaver fees, seeks consultation
03 Nov 2020 Could KiwiBuild home loans be at risk?
02 Nov 2020 US election keeps nervous investors on sidelines
02 Nov 2020 NZX Wealth Technologies aim for growth with new appointment
02 Nov 2020 Industry farewells Faafoi, welcomes new commerce minister
02 Nov 2020 Market influencers going forward...
02 Nov 2020 SuperCity property attracting overseas interest
02 Nov 2020 New disclosure regulations 'a big leap for some businesses'
October 2020
30 Oct 2020 F&P Healthcare profit-taking drags NZX 50 down
30 Oct 2020 Research IP expand New Zealand team with new hire
30 Oct 2020 Most expensive rental region a surprise
30 Oct 2020 AMP receive buyout offer from US investment company
30 Oct 2020 Avanti raises $50 million; ANZ profits fall on writedowns
30 Oct 2020 Avanti raises $50 million for expansion
30 Oct 2020 AMP a laggard with KiwiSaver default status on the line
30 Oct 2020 Finzo appoints new service manager
29 Oct 2020 Shares fall as coronavirus woes return
29 Oct 2020 Juno to increase KiwiSaver fees, not pursuing default status.
29 Oct 2020 FSC enjoys a solid year of growth despite challenges
29 Oct 2020 ANZ profit drops 27% after loan writedowns
29 Oct 2020 Fidelity Life appoints new CEO
29 Oct 2020 How low could mortgage rates go?; Co-op slashes rates
29 Oct 2020 Dunedin in demand
29 Oct 2020 NZ investors will move their money if funds prove non-ethical
28 Oct 2020 Second market fall stopped by F&P Healthcare rebound
28 Oct 2020 How low could mortgage rates go?
28 Oct 2020 A controversy or lost opportunity when we talk about sum insured
28 Oct 2020 Which advisers will win the future?
28 Oct 2020 Mortgage lending record; ANZ slashes one year rate
28 Oct 2020 High upfront commissions likely to stay
28 Oct 2020 Northern Trust wins bid for ANZ’s passive investment suite
27 Oct 2020 F&P Healthcare knocked by strong kiwi; covid saps stock market
27 Oct 2020 Record home lending in September
27 Oct 2020 Hips and knees lead the pack for health insurance payouts
27 Oct 2020 Are more investors looking for advice?; ANZ latest
27 Oct 2020 Investors seek advice amid property boom
27 Oct 2020 Always do your homework
26 Oct 2020 Changes at ANZ; Help build a better business conference
26 Oct 2020 Should Australian financial advisers be allowed into NZ?
26 Oct 2020 KiwiSaver: The opportunity set of a lifetime
25 Oct 2020 Covid-19 changes discussions with clients
24 Oct 2020 [The Wrap] Divorce for AMP Wealth Management and AMP Capital
23 Oct 2020 Shares end muted week with small rise
23 Oct 2020 AIA pimps up its Quick Quote calculator
23 Oct 2020 BNZ Life up for sale, according to Australian reports
23 Oct 2020 Weak inflation means negative OCR: Kiwibank
23 Oct 2020 Westpac one year rate cut; The $50bn programme that will push down rates
23 Oct 2020 The $50 billion idea that will push down home loan rates
23 Oct 2020 Education for landlords by landlords
23 Oct 2020 FMA: Dangers of economic uncertainty in a post-covid world
23 Oct 2020 a2 Milk – growth stocks and downgrades don’t mix well
23 Oct 2020 ANZ re-appoints Penny Burgess as broker boss
22 Oct 2020 Shares decline as global headwinds endure
22 Oct 2020 Financial wellbeing confidence dented by Covid-19 — Cigna study
22 Oct 2020 High LVR investor loans up 134%; LVR limits to return?
22 Oct 2020 COMMENT: Dunedin’s slowdown might last
22 Oct 2020 Westpac dropping adviser wing to Forsyth Barr
21 Oct 2020 It's time sharebrokers had uniform fee disclosure
21 Oct 2020 Stimulus hopes push kiwi up, but shares fall
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