GoodReturns
Archive - 2021
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October 2021
19 Oct 2021 Mortgage adviser made to pay $3,000
19 Oct 2021 Mortgage adviser pays more than $3,000 to end complaint
19 Oct 2021 Mann on a mission to diversify financial advice
18 Oct 2021 Kiwi flies on stonking inflation
18 Oct 2021 Investment avoidance not good enough says Pathfinder
18 Oct 2021 Red hot inflation = Higher mortgage rates; New franchise launched
18 Oct 2021 Inflation genie out of the bottle
18 Oct 2021 REINZ want healthy homes deadline extended
18 Oct 2021 The fastest rate of inflation in a decade
18 Oct 2021 Asteron launches promo to support local business
18 Oct 2021 Returning Kiwi takes up CFO role at Tower
18 Oct 2021 New Southern Cross CLT hospital finished by Christmas
18 Oct 2021 nib offers free mental health cover
18 Oct 2021 Simplicity cement long term relationship with MMC
18 Oct 2021 Nest Home Loans moves to franchising model
18 Oct 2021 Are significant rent rises on the way?
16 Oct 2021 An investment fund where someone other than the investor gets the returns
16 Oct 2021 Heater standard for rentals shows ‘serious deficiencies’
15 Oct 2021 Passive funds sell millions of Contact and Meridian shares
15 Oct 2021 FSCL sees spike in overall complaints
15 Oct 2021 Reflation, renewables and the road ahead: three predictions for global listed infrastructure 
15 Oct 2021 Holiday relief for advisers
15 Oct 2021 Delta fails to dampen equity markets
15 Oct 2021 Mortgage advisers in line for holiday relief
15 Oct 2021 Blanket wraps up domestic insurance for IFAs
14 Oct 2021 a2 climbs as short sellers scared off
14 Oct 2021 No new Govt moves on housing market
14 Oct 2021 Confidence remains high in property market
14 Oct 2021 FMA keeps watch on advertising rulebreakers
14 Oct 2021 REINZ: House prices nationwide continue cooling
14 Oct 2021 Financial Advice NZ conference moves online
13 Oct 2021 a2 shares spike as daigou returns
13 Oct 2021 Kernel Wealth plants seeds for the future with new ESG funds
13 Oct 2021 Fidelity Life forms new solutions and services team
13 Oct 2021 Investing in Wellywood
13 Oct 2021 AIA's 5590 report; reduce risks - live longer
12 Oct 2021 5th day of falls on the sharemarket
12 Oct 2021 No new moves on housing market: Minister
12 Oct 2021 Fidelity aims to take number two spot
12 Oct 2021 Almost 600 advisers take wellbeing survey
12 Oct 2021 Property vulnerability revealed in new CoreLogic data
12 Oct 2021 CCCFA and adviser regs problem areas for banks; We need your feedback
12 Oct 2021 CCCFA and financial adviser reforms not well implemented; Bankers Association
12 Oct 2021 Pepper spices up its birthday
12 Oct 2021 Partners brings in actuarial expert
12 Oct 2021 TAP offers OATs to independent advisers
12 Oct 2021 RBNZ restructures
11 Oct 2021 Z Energy jumps but index suffers from ‘endemic covid’
11 Oct 2021 Higher fee KiwiSaver managers delivering superior returns
11 Oct 2021 Important Information
11 Oct 2021 Rising prices show no sign of stopping
11 Oct 2021 RBNZ changes leadership team structure
11 Oct 2021 The Co-operative Bank appoints a new CEO
11 Oct 2021 House prices rise again
11 Oct 2021 NZ Super invests in offshore energy infrastructure
11 Oct 2021 Tribunal: Baches and the RTA
11 Oct 2021 Pathfinder unpacks its Easy Crypto investment
09 Oct 2021 [The Wrap] It's time to consider the impact of regulatory change
08 Oct 2021 First adviser-led KiwiSaver scheme
08 Oct 2021 NZ shares slip as investors sell yield stocks
08 Oct 2021 Kernel's seed swelling
08 Oct 2021 Cigna business sold
08 Oct 2021 Rob Everett's new role revealed
08 Oct 2021 Commercial: Proposed legislation shoots tenants in foot
08 Oct 2021 Auckland market crushed but not shut down
08 Oct 2021 More changes to floating rates
08 Oct 2021 FundSource gets new owner
08 Oct 2021 New Deputy Governor at RBNZ
08 Oct 2021 Last days for adviser wellbeing survey feedback
07 Oct 2021 Devon creates head of retail role
07 Oct 2021 Dairy stocks lead NZX 50 lower
07 Oct 2021 Du Val Group advertising 'likely to mislead or deceive investors'
07 Oct 2021 Average asking price rising
07 Oct 2021 Mortgage interest rates: Big step up predicted
07 Oct 2021 $5000 scholarship looks to attract new CFPs
06 Oct 2021 Shares and dollar fall as RBNZ pulls the trigger
06 Oct 2021 Top deck reshuffle at RBNZ
06 Oct 2021 Mixed reactions to OCR increase
06 Oct 2021 Easy Crypto nets $17 million in first capital raise
06 Oct 2021 REACTION: OCR up; What people are saying; ANZ quick to hike
06 Oct 2021 What the RBNZ said about increasing the OCR
06 Oct 2021 Tower enlists AI partner to bust claims fraud
06 Oct 2021 Bankers Association agrees rules can be difficult
06 Oct 2021 Areas that are cheaper to buy than rent dwindling
06 Oct 2021 Partners Life lifts the cost of level life cover
06 Oct 2021 Bankers Association agrees rules can be difficult
06 Oct 2021 Fisher Funds buys Aon’s Kiwisaver scheme
05 Oct 2021 NZ shares fall in tech sell-off
05 Oct 2021 Consilium appoints Chief Operating Officer
05 Oct 2021 RBNZ holds back Solvency Standards
05 Oct 2021 New tax rules: What investors need to know
05 Oct 2021 Departing bank CEO fires a warning; Survey reminder
05 Oct 2021 Retiring bank chief slams state regulation
04 Oct 2021 Fidelity Life brings in three new partnership managers
04 Oct 2021 Changes to tenancy terminations
04 Oct 2021 House price rises waning amid tighter lending coming
04 Oct 2021 RBNZ likely to lift base interest rate on Wednesday
04 Oct 2021 FNZ feathers its nest buying Hatch from Kiwi Wealth
02 Oct 2021 IIS brings high risk Bitcoin fund to market
02 Oct 2021 Fund rollout season continues
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.
21 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.
23 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