GoodReturns
Archive - 2015
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October 2015
20 Oct 2015 GFS gets lending award
19 Oct 2015 Most Ombudsman cases go in banks' favour
19 Oct 2015 The Auckland Market has turned
19 Oct 2015 Warminger date set
19 Oct 2015 TSB joins the leaders
19 Oct 2015 Disclosure a tool, FMA says
19 Oct 2015 RAM fight heats up
18 Oct 2015 IOOF class action
17 Oct 2015 Controversy over rental WOF - again
16 Oct 2015 FMA makes changes to exec team
16 Oct 2015 Investors plan legal action
16 Oct 2015 TPP welcome for financial services
16 Oct 2015 Launch date set for Squirrel Money
16 Oct 2015 Investors confident, planning growth
15 Oct 2015 Auckland juggernaut powers on
15 Oct 2015 Westpac introduces one-year special
15 Oct 2015 ANZ exits health insurance market
15 Oct 2015 Where to for advisers, report asks
15 Oct 2015 Lines drawn in commissions debate
15 Oct 2015 Berry appointed Punakaiki director
15 Oct 2015 Record listings hit Hamilton market
14 Oct 2015 KiwiSaver too passive
14 Oct 2015 More OCR cuts likely – despite housing concerns
14 Oct 2015 It's The Co-operative Bank's turn
14 Oct 2015 Industry not happy with RFAs
14 Oct 2015 Russell sale positive for NZ, managing director says
14 Oct 2015 Making great house calls
13 Oct 2015 AMP hires property manager
13 Oct 2015 Advice firm awarded
13 Oct 2015 Perpetual provides NZDF wills
13 Oct 2015 MJW suggests end to overrides
13 Oct 2015 ANZ comes into line
13 Oct 2015 Advisers question value of multiple memberships
13 Oct 2015 The rise of Waikato & Bay of Plenty
12 Oct 2015 “Halo” effect drives prices to record highs
12 Oct 2015 Understanding excesses
12 Oct 2015 NZ’s 4th P2P lender to target SMEs
12 Oct 2015 Good old HSBC
12 Oct 2015 Hundreds offer FAA review input
09 Oct 2015 $500k health claims unlikely for now
09 Oct 2015 Releasing the Handbrake
09 Oct 2015 FADC investigations near completion
08 Oct 2015 Choice crucial to solving Auckland housing woes
08 Oct 2015 Reliance on CVs ill-advised
08 Oct 2015 Morningstar makes research appointment
08 Oct 2015 NZ Super Fund lauds active management strategies
07 Oct 2015 FSCL takes issue with ISO name
07 Oct 2015 Landlords going green
06 Oct 2015 Auckland price rebound may be temporary
06 Oct 2015 FMA keen on KiwiSaver engagement
06 Oct 2015 Milestone gets military contract
05 Oct 2015 BNZ takes the lead
05 Oct 2015 Online prep for new advice clients
05 Oct 2015 Rest of industry gets taste of what advisers have been through
05 Oct 2015 Govt seeks Crown land developers
04 Oct 2015 AMP gets DIMS licence
02 Oct 2015 Nikko's new house view on global equities moves to neutral
02 Oct 2015 AML due diligence puts clients off
01 Oct 2015 Houses for sale drop to new low
01 Oct 2015 D-day for new tax rules
01 Oct 2015 Values up but market changing
01 Oct 2015 Supply side problems must be addressed - Council
01 Oct 2015 Kerr and Barnes battle it out over sale of Perpetual Trust
01 Oct 2015 AIA makes major play in health insurance market
01 Oct 2015 More Heat than Light: Discussions about currency hedging
01 Oct 2015 Investors told: Don't let softer dollar put you off
01 Oct 2015 Retirees say pension not enough
September 2015
30 Sep 2015 Unnecessary regulation for developers
30 Sep 2015 Robinson admits more crimes
30 Sep 2015 Is a housing market crash inevitable?
30 Sep 2015 Roboadvice may be too expensive to pay off
30 Sep 2015 PocketRent seeks investors
30 Sep 2015 Building consent trend still rising
30 Sep 2015 NZ on top of RWC house price rankings
30 Sep 2015 Bach tax stoush continues
29 Sep 2015 Problem of million non-contributing KiwiSaver members
29 Sep 2015 Synergy appoints former Sovereign man
29 Sep 2015 Home affordability improves
29 Sep 2015 Advice processes prompt complaints
28 Sep 2015 Evolving CBD makes for investor opportunities
28 Sep 2015 Govt asks for social housing ideas
28 Sep 2015 Generate ticks over $100 million
28 Sep 2015 Global factors make for low rates
28 Sep 2015 SBS turn to cut rates
28 Sep 2015 Life is good for retirees, report shows
28 Sep 2015 QROPS rules put stop to mergers
28 Sep 2015 Performance fee structures shortchanging investors
26 Sep 2015 Smee pulls brokers from Kepa
25 Sep 2015 Fourth OPI director pleads guilty
25 Sep 2015 ANZ's unsolicited loan offer to client surprises adviser
25 Sep 2015 RESIMAC adds processing fee to loan applications
25 Sep 2015 Big boost for Harmoney
25 Sep 2015 Gareth Morgan joins up with Ralph Stewart
25 Sep 2015 Limited low-deposit lending to investors
25 Sep 2015 KiwiSaver members want DIY approach
25 Sep 2015 Regions get turnover boost
24 Sep 2015 ISO fields five adviser complaints
24 Sep 2015 Pinnacle Life adds new board member
24 Sep 2015 Interest rate rise could surprise, economist warns
24 Sep 2015 Best way to solve FAA? Bin it and start afresh
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