GoodReturns
Archive - 2021
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October 2021
02 Oct 2021 Green bond market gets a boost
02 Oct 2021 [The Wrap] Solving the KiwiSaver value for money equation
01 Oct 2021 NZ shares end week on a flat note
01 Oct 2021 Manager salts up its fund menu
01 Oct 2021 New record for building consents
01 Oct 2021 Bad backs dominate health cover claims
01 Oct 2021 ANZ scales up, drops membership fees
01 Oct 2021 Cigna beefs up tech team
01 Oct 2021 Does reporting season really matter.
01 Oct 2021 Mortgage rates expected to be at 4% plus within a year
01 Oct 2021 KiwiSaver fees - Sam says the big players are ripping you off
September 2021
30 Sep 2021 One NZ share surged 20% today
30 Sep 2021 National digital currency/future of cash consultation opens
30 Sep 2021 AIA and Iress intergrate Xplan quoting system
30 Sep 2021 Methamphetamine: Landlords call for more clarity
30 Sep 2021 Chang steps into acting general counsel role
30 Sep 2021 'Hole in one' cover and the design of insurance products
30 Sep 2021 Crypto out, but new funds in
30 Sep 2021 FMA steps up enforcement of AML breaches
30 Sep 2021 Health insurer offers free counselling sessions
30 Sep 2021 Measuring adviser wellbeing in NZ
29 Sep 2021 NZ shares fall with global rout
29 Sep 2021 Investors target newly built homes
29 Sep 2021 Property tax changes announced; Biggest banks big rate increases; NEW TMM Out now
29 Sep 2021 FMA extends regulatory relief - focus on good conduct
28 Sep 2021 Market Close: F&P Healthcare falls along with Aussie peers
28 Sep 2021 New builds: 20-year exemption from tax changes
28 Sep 2021 [UPDATED] Feedback prompts changes to Asteron's trauma cover
28 Sep 2021 Why work when houses make more money?
28 Sep 2021 KiwiSaver funds soar, non-contributors still a worry
28 Sep 2021 Harbour buys global fixed interest fund
28 Sep 2021 Can infrastructure investments provide protection from rising inflation?
27 Sep 2021 Rising bond yields push shares down
27 Sep 2021 nib foundation joins Clearhead partnership with former All Black
27 Sep 2021 Growth in house prices to fall significantly next year
26 Sep 2021 [The Wrap] It's time to check in on advisers' wellbeing
24 Sep 2021 Pacific Edge up 6%; while index dips
24 Sep 2021 [OBITUARY] Highly respected adviser passes on
24 Sep 2021 Tax deductibility rules could be revealed next week
24 Sep 2021 Advisers angered by BNZ pricing move; Westpac NZ appoints new chief executive
24 Sep 2021 Westpac appoints new chief executive
24 Sep 2021 AMLHUB integrates with RealMe to fight money laundering
24 Sep 2021 Rent levels countrywide
24 Sep 2021 Advisers angered by new BNZ pricing conditions
24 Sep 2021 Pathfinder and Newton Ross in NASDAQ listing
23 Sep 2021 Important Information
23 Sep 2021 Fonterra fund leads NZX 50 higher
23 Sep 2021 Life cover - the hard sell for Kiwi insurers
23 Sep 2021 Investors continue to shy away from buying more property
23 Sep 2021 Co-op rate increases; Smaller hikes to follow next month; Full licensing latest
23 Sep 2021 JMI Wealth adds two new advisers
23 Sep 2021 October rate increases to follow recent moves
23 Sep 2021 [GRTV] What's driving adviser burnout?
22 Sep 2021 NZ shares up with Evergrande lurking in background
22 Sep 2021 Broker complaint dismissed
22 Sep 2021 David McClatchy joins several boards
22 Sep 2021 Experts ponder compulsory KiwiSaver
22 Sep 2021 NZ Green employs investment analysts
22 Sep 2021 Kiwibank lockdown rate hikes
22 Sep 2021 Kiwibank lockdown rate hikes
21 Sep 2021 NZ shares flat as global markets fear Evergrande crisis
21 Sep 2021 How much more life insurance needs to be sold
21 Sep 2021 Full licencing - what does it look like?
21 Sep 2021 Life insurers up for awards
21 Sep 2021 More changes at the top for Craigs IP
21 Sep 2021 CCCFA an opportunity for advisers; Borrowers abandon one year terms
21 Sep 2021 CCCFA an opportunity for advisers
21 Sep 2021 Borrowers abandon one year rates
21 Sep 2021 Traffic builds on the road to full licensing
20 Sep 2021 NZ shares consolidate from Friday rally
20 Sep 2021 FMG gets a new CEO for Christmas
20 Sep 2021 NZX Wealth Tech signs up boutique advice firm
20 Sep 2021 Westpac and BNZ follow with lockdown rate hikes
20 Sep 2021 Westpac and BNZ follow with lockdown rate hikes
20 Sep 2021 MMC picks up another default KiwiSaver provider
20 Sep 2021 What we know about the new FMA CEO
17 Sep 2021 Passive funds push NZX 50 higher
17 Sep 2021 Craigs IP exec heads to NZX Wealth
17 Sep 2021 Rents remain at all-time highs
17 Sep 2021 What office staff expect in a workplace
17 Sep 2021 Hardship clients face credit challenges
17 Sep 2021 Hardship clients face credit issues
17 Sep 2021 Jarden promotes new recruit
17 Sep 2021 FMA licensing workshops popular with Fidelity Life advisers
17 Sep 2021 How many Kiwis has KiwiSaver Saved?
16 Sep 2021 NZ shares down on ‘staggering’ GDP number
16 Sep 2021 BNZ cuts KiwiSaver and managed fund fees
16 Sep 2021 Southern Cross boosts surplus profits; Claims paid tops $1 bill
16 Sep 2021 FSC conference changes announced
16 Sep 2021 Major rate hikes at big four banks; Prospa raises A$200m
16 Sep 2021 Major rate hikes at big four banks
16 Sep 2021 Scam complaints rise sharply
16 Sep 2021 Prospa raises A$200 million for business lending
16 Sep 2021 First Mortgage Trust appoints BDM
15 Sep 2021 NZ shares slightly lower with US inflation data
15 Sep 2021 Mortgage rates have hit low point; TSB hikes; Nest Home Loans hires
15 Sep 2021 Mortgage rates have troughed: ASB
15 Sep 2021 Tereora drives off from life insurance
15 Sep 2021 New names at Nest Home Loans
15 Sep 2021 New recruit to focus on AML compliance
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