GoodReturns
Archive - 2019
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October 2019
29 Oct 2019 ANZ moves to defeat Ross Asset class action early
29 Oct 2019 How advisers can help SMEs with their seasonal cash flow issues
29 Oct 2019 Should Meridian call Rio’s bluff?
29 Oct 2019 Increase Govt KiwiSaver contribution: Commission
27 Oct 2019 Will KiwiSavers be denied control of their savings?
25 Oct 2019 NZX50 stumbles over smelter scare
25 Oct 2019 Kiwis at risk of losing in passive investing “bubble”
25 Oct 2019 Kiwibank rate cut; Strong September loan volumes
25 Oct 2019 Licensing fee increase
24 Oct 2019 TMM Conference sneak preview
24 Oct 2019 NZ shares fall as yield stocks face selling
24 Oct 2019 Strong September for home lending
24 Oct 2019 AMP reports fall in NZ AUM
24 Oct 2019 Transitional licensing delayed
24 Oct 2019 Trevor Slater rejoins FDRS
24 Oct 2019 LVR loosening likely?
24 Oct 2019 New online CPD course for advisers launches
23 Oct 2019 Plus4 adds adviser in Wellington
23 Oct 2019 Investors dump power companies on smelter scare
23 Oct 2019 Pepper salts up New Zealand market
23 Oct 2019 LVR loosening likely - ANZ
23 Oct 2019 New income manager at Milford
23 Oct 2019 Resimac speeds up applications; Tribunal case highlights meth danger
23 Oct 2019 Resimac speeds up application process
23 Oct 2019 Passive managers reject criticism [+ WHITE PAPER]
22 Oct 2019 Fidelity: Profit down as claims up
22 Oct 2019 NZ shares follow Asia higher; SkyCity falls as fire rages
22 Oct 2019 TMM Conference preview; Peters criticises Kiwibank
22 Oct 2019 The importance of luck (and recognising it)
22 Oct 2019 Retirement Commissioner: Consider KiwiSpend
21 Oct 2019 NZ shares edge lower as global ructions weigh; Tourism Holdings sinks
21 Oct 2019 Strong meth suspicions call for testing
21 Oct 2019 ANZ outlines stance on FAPs; SBS rate cut and rebrand
21 Oct 2019 ANZ reveals stance on FAPs
21 Oct 2019 What is the advice risk?
21 Oct 2019 Wealthpoint expands head office team
21 Oct 2019 Winston Peters calls for Kiwibank overhaul
21 Oct 2019 Mercer questions sustainability of NZ pension scheme
21 Oct 2019 SBS targets big banks with new 2 year rate
20 Oct 2019 Advisers should pass level five with few problems: Hill
20 Oct 2019 Another KiwiSaver scheme cuts fees
19 Oct 2019 Edmonds adds a touch of salt to team
19 Oct 2019 [The Wrap] Millennial investors, KiwiSaver and property investment
19 Oct 2019 Blue-chip stocks Meridian, A2 lead market lower
18 Oct 2019 Surge in rental demand in Palmerston North
18 Oct 2019 ASB latest to cut rates
18 Oct 2019 Advisers welcome Aegis sale
17 Oct 2019 NZ shares fall as Pushpay follows Aussie software firms lower
17 Oct 2019 COMMENT: Sign of changing times
17 Oct 2019 BNZ cuts rates; Mortgage Lab makes licensing call
17 Oct 2019 Advisers not dropping out, Financial Advice NZ says
16 Oct 2019 Fourth day of gains; Restaurant Brands climbs on upbeat outlook
16 Oct 2019 Mortgage Lab and Kepa plan for new regime
16 Oct 2019 Westpac rate cuts; housing market to impact OCR?
16 Oct 2019 New advice fee model for KiwiSaver
15 Oct 2019 NZ shares rise; F&P Healthcare gains for 3rd day
15 Oct 2019 House price rally could reduce odds of OCR cut: Westpac
15 Oct 2019 Return to market form
15 Oct 2019 ANZ in new rate cuts; KiwiSaver withdrawals for investors?
15 Oct 2019 Legislation overload 'could have unintended consequences'
15 Oct 2019 Allow KiwiSaver withdrawals for investment properties
14 Oct 2019 Investment manager appointed at Midlands
14 Oct 2019 Sky soars on NZ Rugby deal; Market up overall
14 Oct 2019 Price wars continue with ANZ rate cuts
14 Oct 2019 Prefab changes don’t address finance issue
14 Oct 2019 Lifetime advisers switch to salaries
14 Oct 2019 Couillault returns to funds business
13 Oct 2019 BDMs put through level five to understand adviser experience
13 Oct 2019 [Obituary] Camelot founder farewelled
13 Oct 2019 Three themes a top fund manager is watching closely
11 Oct 2019 NZ shares rise; Sky TV recovers on rugby rights rumour
11 Oct 2019 Lifetime puts all advisers into salaries
11 Oct 2019 New ring-fencing rules in play
11 Oct 2019 Collaboration key to urban development
11 Oct 2019 Property investing with $100
11 Oct 2019 Govt seeks feedback on disclosure rules
10 Oct 2019 NZ shares fall; Sky routed on lost cricket rights
10 Oct 2019 ASB confirms Aegis sale
10 Oct 2019 OCR cut set for November, but how much?
10 Oct 2019 Weak business confidence will lead to OCR cut
10 Oct 2019 Two more senior appointments at TE
10 Oct 2019 FMA: Time to show what KiwiSaver members get for fees
09 Oct 2019 Trade concerns weigh on market; Fonterra recovery pauses
09 Oct 2019 Green light for property investment crowdfunding
09 Oct 2019 Co-Op rate cuts; Servicing test changes limited
09 Oct 2019 Servicing test changes limited
09 Oct 2019 Code Committee: We've thought about what could have been better
08 Oct 2019 NZ shares join Asian rally on optimism over trade talks
08 Oct 2019 Advisers welcome new lender; Another big OCR cut?
08 Oct 2019 Advisers welcome new mortgage entrant
08 Oct 2019 What to do, what to do …
08 Oct 2019 KiwiSaver members want online research, not advice; New player says
07 Oct 2019 NZ shares rise in quiet trading as Fonterra hits 4-month high
07 Oct 2019 COMMENT: Getting to grips with tenancy disputes
07 Oct 2019 ASB: OCR will fall to 0.5%
07 Oct 2019 Reverse mortgages take off in NZ; Avanti rate cuts
07 Oct 2019 Generate launches first non-KiwiSaver Fund
07 Oct 2019 Generate beefs up investment team
05 Oct 2019 Fidelity hits $1 billion milestone
04 Oct 2019 Quotemonster responds to new adviser regime
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.
15 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.
17 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