GoodReturns
Archive - 2018
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October 2018
12 Oct 2018 Market fall not a bloodbath; Someone’s dropped their latte: NZ Super Fund boss
12 Oct 2018 COMMENT: Reform word games
12 Oct 2018 LVR easing talk grows
12 Oct 2018 Level 5 will be minimum for advisers; KiwiBank talks LVR loosening
12 Oct 2018 Financial planning for the future
12 Oct 2018 Wilson's surprise departure from top job
12 Oct 2018 Code: From complex to simple
11 Oct 2018 NZ shares drop to 4-month low following Wall St rout; A2 slumps 11%
11 Oct 2018 LVR restrictions could be cut by 5%: Kiwibank
11 Oct 2018 Draft code of conduct revealed
11 Oct 2018 Sept sales plummet; Finance Minister talks tax changes
11 Oct 2018 September sales at 7 year low
11 Oct 2018 'Individual' licence suggestion causes concern
11 Oct 2018 Fraud pushes up policies' premiums
10 Oct 2018 Investors remain nervous; Fonterra down
10 Oct 2018 Calls for property management regulation grow
10 Oct 2018 Minister talks tax
10 Oct 2018 Another non-bank targets prime loans; BNZ makes some moves
10 Oct 2018 FNZ in deal worth billions
10 Oct 2018 Basecorp latest non-bank to target prime customers
10 Oct 2018 Advisers hang back from KiwiSaver
09 Oct 2018 NZ shares fall for 7th day as US bond yields hold sway
09 Oct 2018 [GRTV] National Advisers Conference Episode 1
09 Oct 2018 Advice makes key difference to KiwiSaver
09 Oct 2018 COMMENT: What “bad tenant” tales are really saying
09 Oct 2018 What's happening in vehicle finance?
09 Oct 2018 Fund managers 'should back advisers'
09 Oct 2018 NZFSG targets car finance growth
08 Oct 2018 NZX closes at lowest level in a month; Rising US bond yields ripple through Asia
08 Oct 2018 Elevation Capital demands unreasonable: NZX
08 Oct 2018 Harbour adds Multi-Asset specialist
08 Oct 2018 Front-footing change
08 Oct 2018 HSBC does the limbo again
08 Oct 2018 The Dealer Group
08 Oct 2018 Managers not adding value picking asset classes
05 Oct 2018 NZ shares fall as rising yields trim demand; Synlait drops
05 Oct 2018 Kiwibank changes special
05 Oct 2018 New FSLAB timelines; Are KiwiBuild houses good value?
05 Oct 2018 End is nigh for letting fees
05 Oct 2018 Reserve Bank may expand dashboard to insurance
05 Oct 2018 FSLAB regime not expected to fully take hold until mid-2022
05 Oct 2018 NZX stands by funds business
05 Oct 2018 Insurance documents 'too confusing'
04 Oct 2018 A2 still in the dog-box; Genesis, Akl Airport shed dividend rights
04 Oct 2018 Switch at top of Magellan
04 Oct 2018 KiwiBuild discount favours Auckland, Queenstown: CoreLogic
04 Oct 2018 Time for apartment law reform
04 Oct 2018 Harbour builds a new real estate fund
04 Oct 2018 Harbour homes in on real estate
04 Oct 2018 Advisers face challenging decade
04 Oct 2018 Clients 'should expect ongoing service'
03 Oct 2018 A2 director sells; Fletcher overture rebuffed; market falls
03 Oct 2018 Supply increase puts hold on prices
03 Oct 2018 More cuts; Listings jump
03 Oct 2018 Values holding pattern
03 Oct 2018 Platform ponders advice potential
02 Oct 2018 Shares slip on rising costs, dwindling business confidence
02 Oct 2018 Shortage driving Hamilton values
02 Oct 2018 Fund manager calls for NZX to sell funds business
02 Oct 2018 Alternative lending options
02 Oct 2018 Beyond The Banks – Alternative lending options in a restricted market
02 Oct 2018 They think they know how
02 Oct 2018 New Housing Ministry opens doors
02 Oct 2018 Simplicity faces responsibility questions
02 Oct 2018 Nikko adds relationship manager
02 Oct 2018 FMA calls for adviser support
01 Oct 2018 NZ shares fall as Spark, Ryman give up recent gains in quiet trading
01 Oct 2018 [GRTV] Global equities is a good place to be: Nikko
01 Oct 2018 Rates continue to tumble; Mike Pero and co swap war for love
01 Oct 2018 The week that was
01 Oct 2018 NZ Funds appoints new CEO
01 Oct 2018 Spring listings deluge
01 Oct 2018 The top regulation questions answered
September 2018
28 Sep 2018 [The Wrap] Fun and games at Fin Advice NZ conference; What advisers need to do when paid commission
28 Sep 2018 NZ shares climb as NZX50 gains 4.3% in September quarter
28 Sep 2018 Auckland consents reach record levels
28 Sep 2018 Jail for Waldorf Celestion Apartment developers
28 Sep 2018 Litigation heals Mike Pero wounds
28 Sep 2018 Super Fund adds $4b
28 Sep 2018 Kepa appoints manager of adviser training
28 Sep 2018 Young adviser takes top award; TSB cuts rates
28 Sep 2018 AIA and Sovereign: One brand in 2019
28 Sep 2018 AMP divests from tobacco securities
27 Sep 2018 Three Excellence in advice awards revealed
27 Sep 2018 Kerr claims win in Torchlight case
27 Sep 2018 NZ shares fall as A2 extends decline, property stocks lose shine
27 Sep 2018 Three advisers elected to association board
27 Sep 2018 Partners Life appoints Chief Legal, Risk and Conduct Officer
27 Sep 2018 OCR remains the same
27 Sep 2018 Today’s OCR statement
27 Sep 2018 Ombudsman clarifies adviser servicing obligations
27 Sep 2018 Investor lending activity still subdued
26 Sep 2018 Investor activity subdued in August
26 Sep 2018 NZ shares edge up; rising oil prices keep Air NZ cautious
26 Sep 2018 Solid global economy and equity returns
26 Sep 2018 BNZ joins Kiwibuild buyer battle
26 Sep 2018 New group to battle reforms
26 Sep 2018 Rents hitting record highs; Got your seat yet?
26 Sep 2018 AFAs censured by FADC
25 Sep 2018 NZ shares inch higher as investors eye upcoming AGMs
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.
9 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.
11 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