GoodReturns
Archive - 2008
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September 2008
11 Sep 2008 National to look after investors
10 Sep 2008 NZ house sales sink to 26-year low
10 Sep 2008 REINZ residential highlights - August 2008
10 Sep 2008 IFA Roadshow
10 Sep 2008 Insurance & Savings Ombudsman Conference 2008
10 Sep 2008 NZ property investors undeterred, seek new houses
10 Sep 2008 North South not facing receivership
10 Sep 2008 ASFONZ / Women in Super Breakfast
10 Sep 2008 KiwiSaver law changes expensive for employers
10 Sep 2008 Dominion Finance down
10 Sep 2008 Group market owes it to KiwiSaver
10 Sep 2008 Lombard payout cut - again
09 Sep 2008 IFA Roadshow
09 Sep 2008 Market Review: September 2008 London Commentary
09 Sep 2008 Market Review: September 2008 Commentary
09 Sep 2008 New charges laid against Bridgecorp directors
09 Sep 2008 ASFONZ appoints new chair
09 Sep 2008 Adviser legislation enters final stretch
09 Sep 2008 34,000 bonds unclaimed
08 Sep 2008 ASB appoints new MD
08 Sep 2008 NZMBA Regional Days
08 Sep 2008 Bollard expected to cut rates on Thursday
08 Sep 2008 QV residential highlights
08 Sep 2008 News Round Up
08 Sep 2008 Sellers drop house prices for buyers
05 Sep 2008 Heat rising in housing policy
05 Sep 2008 ING Roadshow 2008
05 Sep 2008 Weekly Wrap: King takes King, but game still on
05 Sep 2008 Real Estate Agents Bill passed
05 Sep 2008 King takes King as IRG seeks mates
05 Sep 2008 Can trustees really police fin coys?
05 Sep 2008 Tower enhances Key Person cover
05 Sep 2008 AIG Life's Young moves on
04 Sep 2008 ING Roadshow 2008
04 Sep 2008 King says Dorchester investment “a disaster”
04 Sep 2008 Surge in central city rental levels
04 Sep 2008 Finance companies must get credit ratings
03 Sep 2008 Auckland house sales fell in August
03 Sep 2008 KNOCKOUT Series 1 Roadshow
03 Sep 2008 OCR cut will provide new focus
03 Sep 2008 ING Roadshow 2008
03 Sep 2008 Changes to KiwiSaver introduced
03 Sep 2008 GS JB Were adds a manager
02 Sep 2008 KNOCKOUT Series 1 Roadshow
02 Sep 2008 Property Development & Investment 2008
02 Sep 2008 Strategic deal done
02 Sep 2008 New chief at Pero
02 Sep 2008 New chief at Pero
01 Sep 2008 The National Partnership buys back-office
01 Sep 2008 ASSET: FAB finale - Last moves for advisers
01 Sep 2008 Strategic managers agree terms of $90m buyout
01 Sep 2008 Dominion Finance bad debt provision exceeds $80m
01 Sep 2008 News Round Up
01 Sep 2008 ANZ, BNZ lift profits but lose mortgage market share
01 Sep 2008 September issue – available now
01 Sep 2008 Manawatu: Rural riches
August 2008
29 Aug 2008 Weekly Wrap: ASIC imports for adviser regulation
29 Aug 2008 Dorchester’s deferred payment plan goes to trustees
29 Aug 2008 What drives the property market?
29 Aug 2008 Women in Super industry breakfast
29 Aug 2008 Southern Cross three managers up
29 Aug 2008 Call for clarity over grounds for eviction
29 Aug 2008 Advisers get guarded thumbs up on disclosure
29 Aug 2008 Changing of the guard
29 Aug 2008 Dorchester to take charge on St Laurence stake
29 Aug 2008 All predictions tracking downward
28 Aug 2008 KNOCKOUT Series 1 Roadshow
28 Aug 2008 ASFONZ 2008 National Conference & Super Expo
28 Aug 2008 $1b insulation fund launched
28 Aug 2008 ‘No slow down’ on adviser rules: Dalziel
27 Aug 2008 Kiwibank lifts profits and mortgage market share
27 Aug 2008 Canterbury economy on top
27 Aug 2008 KNOCKOUT Series 1 Roadshow
27 Aug 2008 Steaming ahead head act
27 Aug 2008 MARAC Finance reinvestment rate rises
27 Aug 2008 Web solution for KiwiSaver advice conundrum
27 Aug 2008 TSB's profit up, loan book down
26 Aug 2008 KNOCKOUT Series 1 Roadshow
26 Aug 2008 MARAC Finance reinvestment rate rises
26 Aug 2008 Inaugural Banking and Financial Services Law
26 Aug 2008 Fishers hook bigger stake in business
25 Aug 2008 South Canterbury profit falls 9.5% but still standing strong
25 Aug 2008 KNOCKOUT Series 1 Roadshow
25 Aug 2008 International Tax & Transfer Pricing Summit
25 Aug 2008 New Tower BDM
25 Aug 2008 News Round Up
25 Aug 2008 What regulation means for brokers
22 Aug 2008 Battle of boffins and buyers
22 Aug 2008 In force premiums up nearly 10%
22 Aug 2008 Take part in our survey for property investors
22 Aug 2008 Geneva to review loan book
22 Aug 2008 Tower Health adds new boss for intermediaries
22 Aug 2008 PIS aims to be number one in a year
21 Aug 2008 New Zealand Finance Sector Forum
21 Aug 2008 Prepare for action
21 Aug 2008 National supports adviser bill: Dalziel
20 Aug 2008 AXA appoints new GM
20 Aug 2008 Wow. A minister with passion!
20 Aug 2008 Slow but steady improvement
20 Aug 2008 Tweaking of mortgage rates 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.
7 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.
9 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".
2 days ago Paul Flood