GoodReturns
Archive - 2020
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October 2020
01 Oct 2020 Reserve Bank relaunches Insurance Act review
01 Oct 2020 ASB cuts four and five year fixed rates; Values on the rise again
01 Oct 2020 NZFSG merges with Kepa
01 Oct 2020 Values on the rise again - CoreLogic
01 Oct 2020 Generate make $15 million impact investment to Salvation Army
01 Oct 2020 Low listings boosting prices
September 2020
30 Sep 2020 Castle Point wins blue chip account
30 Sep 2020 A2's decline cancels property gains on NZX today
30 Sep 2020 Resilient consent numbers surprise
30 Sep 2020 Non-bank lending soars
30 Sep 2020 Non-bank lending soars
30 Sep 2020 Wairarapa on the move
30 Sep 2020 Liz Koh: Model portfolios “inevitable”
29 Sep 2020 Dairy decline pulls market lower; A2 leads the way
29 Sep 2020 Growing calls to overhaul Responsible Lending Code
29 Sep 2020 Growing calls to overhaul Responsible Lending Code
29 Sep 2020 Pāua Wealth Management look to make a splash with new appointment
29 Sep 2020 Adapting to commercial’s new normal
29 Sep 2020 FMA Supervision Insight Report: The good, the bad and the ugly
28 Sep 2020 Shares flat as utilities soar while A2 plunges
28 Sep 2020 AIA policy encourages Kiwis to ‘share the love’
28 Sep 2020 MMC re-brand future focused
28 Sep 2020 Healthy Homes standards: to back or to scrap?
28 Sep 2020 Australia scraps responsible lending laws — advisers react
28 Sep 2020 Advisers hopeful about Aussie lending changes
26 Sep 2020 It’s time to level up and address the needs of the modern investor
26 Sep 2020 TAP launches adviser academy to 'raise the bar for professionalism'
25 Sep 2020 Shares bounce on big banks boost
25 Sep 2020 [GRTV] Depressing imbalances in IP market: Hutchinson
25 Sep 2020 Australia scraps responsible lending laws
25 Sep 2020 Southland is tops for investors
25 Sep 2020 August lending record; Kiwibank pays $5 million to customers
25 Sep 2020 Cullen reflects on KiwiSaver, Super Fund and capital gains
25 Sep 2020 FMA: No excuses for shoddy conduct
24 Sep 2020 Kiwi falls on economic concern
24 Sep 2020 August record for mortgage lending
24 Sep 2020 Mortgage Express hires Christchurch adviser
24 Sep 2020 What the Reserve Bank's latest move means for housing
24 Sep 2020 Kiwibank to pay customers $5.2 million over home loan failings
24 Sep 2020 Cheap funding for banks imminent
24 Sep 2020 Movac fund secures Kiwi Invest backing
23 Sep 2020 Pushpay leads stock market higher
23 Sep 2020 Asteron mints new Head of Life role
23 Sep 2020 RBNZ bank funding programme imminent: reaction
23 Sep 2020 OCR decision revealed
23 Sep 2020 New renters' guide for tenants
23 Sep 2020 Kiwibank sees lending rise; OCR decision later
23 Sep 2020 Day of reckoning could be messy: Zollner
23 Sep 2020 Kiwibank sees lending rise: KPMG
22 Sep 2020 NZ shares buck global sell-off
22 Sep 2020 Growth halts for Capital rents
22 Sep 2020 Greer steps down as Loan Market CEO; ICBC rate cut
22 Sep 2020 Greer steps down as Loan Market NZ CEO
22 Sep 2020 Time is running out for 2000 unregistered advisers
21 Sep 2020 Profit taking pulls shares down
21 Sep 2020 Call for rent caps after freeze ends
21 Sep 2020 Reserve Bank to talk up negative OCR: preview survey
21 Sep 2020 RBNZ to talk up negative OCR: preview survey
21 Sep 2020 Insurance Act Review forges on
21 Sep 2020 Ratings agency welcomes climate risk reporting
19 Sep 2020 ESG themes from company reporting season
18 Sep 2020 Strong kiwi weighs down shares
18 Sep 2020 High demand keeps pushing prices up
18 Sep 2020 Heartland reverse mortgage book grows by 10%
17 Sep 2020 FMA details Covid-19 response
17 Sep 2020 Global markets dip as US Fed disappoints
17 Sep 2020 Kiwibank about to enter the adviser market
17 Sep 2020 Specialist lender appoints new CFO
17 Sep 2020 Kiwibank just over a month away from entering adviser market
17 Sep 2020 Heartland reverse mortgage book grows 10%
17 Sep 2020 Mortgage Express hires new Otago adviser
17 Sep 2020 Stewart Financial Group to pay $2k over abandoned ERA bid
16 Sep 2020 Less gloomy outlook boosts kiwi; NZ shares rise
16 Sep 2020 Former AMP Capital man joins Salt
16 Sep 2020 Southern Cross posts surplus after returning $50m to members
16 Sep 2020 The pros and cons of ‘standard’ in compliance
16 Sep 2020 Resimac in $300m mortgage offering
16 Sep 2020 Resimac in $300m mortgage offering
16 Sep 2020 COMMENT: Never a right time to invest – why buyers need to act now
16 Sep 2020 Nikko reveals new strategy for income investors
15 Sep 2020 Adviser complaints increase, IFSO says
15 Sep 2020 Sharemarket misses regional rally; NZX offline - again
15 Sep 2020 New Zealand to require financial sector to report on climate risk
15 Sep 2020 Asteron Life: One fifth of SMEs don’t know where to find an adviser
15 Sep 2020 Cigna announces multi-benefit discount on new policies
15 Sep 2020 Ex-partner’s behaviour not a tenancy breach
15 Sep 2020 Are branch customers getting preferential treatment?
15 Sep 2020 Responsible investors ahead of the game
15 Sep 2020 Are branch customers getting preferential treatment?
15 Sep 2020 Reporting season and forecasting a waste of time
15 Sep 2020 Kiwi Invest reveal new asset allocation strategist
14 Sep 2020 NZ shares rise as THL bolsters sentiment
14 Sep 2020 Online innovation brings huge strides forward in digital adviser technology
14 Sep 2020 Expect house prices to keep rising - Westpac
14 Sep 2020 Turnaround times: how do the banks compare?
14 Sep 2020 Turnaround times: how do the banks compare?
14 Sep 2020 [GRTV] Boyle on KiwiSaver changes
14 Sep 2020 MMC successfully reach for the cloud
14 Sep 2020 Eat My Lunch founder joins Simplicity
12 Sep 2020 What the heck is a consumer data right?
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".
3 days ago Paul Flood