GoodReturns
Archive - 2023
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October 2023
10 Oct 2023 One mortgage adviser has turned his hand to helping small businesses
10 Oct 2023 Book aimed at small businesses
10 Oct 2023 Housing market turns but big bounce not expected
10 Oct 2023 Privacy - Do we really understand it?
10 Oct 2023 Sharesies investor mood up and down
10 Oct 2023 Stewardship grows, exclusion normalising
09 Oct 2023 NZ market in the red as election countdown begins
09 Oct 2023 The question is repealing the CCCFA will be enough or not
09 Oct 2023 Will repealing the CCCFA be enough?
09 Oct 2023 Diversification - Markowitz’s greatest gift
07 Oct 2023 Westpac streamlines process for switching banks
06 Oct 2023 Weak energy companies drag NZ sharemarket lower
06 Oct 2023 FMA reviews players in Kloogh Ponzi scheme
05 Oct 2023 NZ sharemarket rises US Treasury yields drop
05 Oct 2023 It’s just a matter of assessing the cost, or economic damage, of the war
05 Oct 2023 A better quarter in store?
05 Oct 2023 Dimensional launches NZ PIE to investing sustainable Australian equities
05 Oct 2023 Inflation war will be won but at what cost?
04 Oct 2023 NZ market flat as RBNZ keeps OCR at 5.5%
04 Oct 2023 OCR remains at 5.50%
04 Oct 2023 BREAKING: Official Cash Rate remains at 5.50%
04 Oct 2023 Finance difficulties don’t stop house buying
04 Oct 2023 Flood of new investors unlikely even if Government changes
04 Oct 2023 FMA releases final record keeping guidance for climate reporting
04 Oct 2023 Authority Documents - What’s too far?
04 Oct 2023 AIA gets a new non-executive, independent board member
03 Oct 2023 NZ market flat as RBA hits the handbrake
03 Oct 2023 It is important for advisers within a firm to share information about client’s needs
03 Oct 2023 The tax benefits of a new build
03 Oct 2023 Chubb Life scholarship winner
03 Oct 2023 Adviser firm pays $133,000 for part of house deposit lost in growth fund
02 Oct 2023 Pacific Edge falls as NZ market sinks into the red
02 Oct 2023 Higher top-up tax looming if Government doesn't change
September 2023
30 Sep 2023 Southern Cross is “very supportive” of CoFi
29 Sep 2023 Sharemarket rises on quarter-end buying
29 Sep 2023 Loosened LVRs push up mortgage lending
29 Sep 2023 Not enough understanding of non-bank lending
29 Sep 2023 Financial Advice NZ CEO hangs up her boots
29 Sep 2023 Not enough awareness and understanding of non-bank lending
29 Sep 2023 Southern Cross posts $16.5m annual loss as it capped premium prices
28 Sep 2023 NZX50 drops more than 1% as bond yields rise
28 Sep 2023 One year old stewardship code covers $100 billion FUM
28 Sep 2023 Fidelity admits it’s dropped the ball
27 Sep 2023 NZ market edges down as employment confidence hits low point
27 Sep 2023 Mortgage lending data shows property market heating up
27 Sep 2023 New Zealand’s next top town
27 Sep 2023 Mortgage lending on all properties thaws out
27 Sep 2023 [GRTV] Highly aspirational – an adviser’s take on the Million Dollar Round Table
27 Sep 2023 Industry should ignore Nat pledge to scrap CoFi: KPMG
27 Sep 2023 Acceleration of innovation now spells danger for investors
26 Sep 2023 NZ market down as investors press pause
26 Sep 2023 November hike or May cut
26 Sep 2023 OCR – November hike or May cut
26 Sep 2023 Southern Cross to review communications after debacle over withdrawn benefit
26 Sep 2023 Why sales is more relevant than ever in an era of increased regulation
26 Sep 2023 House price rises revised upwards
25 Sep 2023 NZ market ticks up as school holidays kick off
25 Sep 2023 Adviser feedback sees Fidelity Life unbox the goodies
25 Sep 2023 It often means people have fewer choices on where they can obtain a mortgage
25 Sep 2023 Affordability not always a level playing field
25 Sep 2023 Let's talk about trust
24 Sep 2023 Another leading KiwiSaver provider calls for changes
23 Sep 2023 Makao takes a step to boost analytics on sustainability
23 Sep 2023 [The Wrap] FSC should take a position on CoFI
22 Sep 2023 Here's what's being said about mortgage advisers
22 Sep 2023 Late surge lifts NZ sharemarket into positive territory
22 Sep 2023 Significant recovery underway
22 Sep 2023 Fidelity Life announces 2023 adviser award winners
21 Sep 2023 NZX50 slips as Fonterra result shines in the gloom
21 Sep 2023 Banking study submissions highlight adviser issues
21 Sep 2023 FNZ launches global accreditation programme
21 Sep 2023 SMEs ‘playing it safe’ despite growing optimism
21 Sep 2023 Global look at fund managers’ commitment to ESG
21 Sep 2023 Asteron Life putting mental health at the forefront
21 Sep 2023 Providers need to do the right thing when nobody is watching
20 Sep 2023 Cost of living crunch an opportunity for advisers
20 Sep 2023 NZ market flattens out as KMD Brands falls almost 5%
20 Sep 2023 Kloogh investors told they will only get 2c in the $1 back
20 Sep 2023 Howzat! Generate chair out
20 Sep 2023 KiwiSaver fee revenue drops for the first time since 2007
20 Sep 2023 AIA NZ launches new online adviser onboarding application
19 Sep 2023 NZ market follows the US as investors wait for Fed’s decision
19 Sep 2023 How to help customers in financial difficulty
19 Sep 2023 Contrasting, but productive, times
19 Sep 2023 Help to borrowers in financial difficulty outlined
19 Sep 2023 Clear eyed focus needed on economy’s supply side
19 Sep 2023 FSC won't comment on Nat plan to scrap Cofi
19 Sep 2023 Heartland says big banks use scale to block competition
19 Sep 2023 [OPINION] How the next Government can help tenants
18 Sep 2023 NZ market edges up while shares in Synlait Milk drop almost 10%
18 Sep 2023 AIA moves closed unit-linked policies to passive manager
18 Sep 2023 Properties selling faster and prices increase
18 Sep 2023 Fake adviser pleads guilty
18 Sep 2023 Bizcap is surprised at the level of New Zealand growth in a short time
18 Sep 2023 Loans and defaults for ‘open minded’ lender
18 Sep 2023 Who understands the new map of life?
18 Sep 2023 Key challenges to overcome when selling an advice business today
15 Sep 2023 NZ sharemarket ends week on brighter note with heavy trading
15 Sep 2023 How Lend Capital works
15 Sep 2023 Unsecured SME loans the future new player says
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.
1 day 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.
1 day 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.
3 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…
3 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