GoodReturns
Archive - 2022
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September 2022
19 Sep 2022 Super Fund goes greener
19 Sep 2022 Lending company faulted in CCCFA related case
19 Sep 2022 FMA changes management structure
19 Sep 2022 FSCL urges lenders to take note
18 Sep 2022 Awards winner celebrates business relationships for life
17 Sep 2022 New high forecast for OCR
16 Sep 2022 NZ shares fall; Air NZ shoots down merger talk
16 Sep 2022 Thom Bentley turns up at new gig
16 Sep 2022 TSB's new offer; Westpac cuts some fees
16 Sep 2022 Values plunge in more than 80% of the country’s suburbs
16 Sep 2022 Westpac removes some fees for customers
15 Sep 2022 Pushpay sinks almost 15% on rumours of sale failure
15 Sep 2022 OCR could reach 4.25% - ASB
15 Sep 2022 ASB predicts even higher interest rates
15 Sep 2022 What an Aussie learnt about NZ advisers
15 Sep 2022 Stats NZ - Economy grows 1.7%
15 Sep 2022 BNZ names new chief economist
15 Sep 2022 Business lending demand an opportunity for advisers
15 Sep 2022 Economy grows 1.7% - Stats NZ
15 Sep 2022 Scammers target Financial Services Federation
15 Sep 2022 Southern Cross plans to curb premium hikes
15 Sep 2022 Fall of NZ dollar below $US0.60 is manageable on its own – economists
14 Sep 2022 Wall Street plunge sends NZ market and dollar spiralling
14 Sep 2022 Search continues for new SHARE boss
14 Sep 2022 Rising rent and food prices impact households
13 Sep 2022 Property stocks edge down over new housing data
13 Sep 2022 Difficulties with debt on the rise – Centrix
13 Sep 2022 InvestNow's parent company sold
13 Sep 2022 One way traffic for REINZ housing report
13 Sep 2022 KiwiSaver performance good but sliding – survey
13 Sep 2022 Financial Advice NZ membership numbers revealed
12 Sep 2022 Fonterra units jump as investors wait for GDP data to drop
12 Sep 2022 Moving to digital? Operational and customer paradigms are critical
12 Sep 2022 Zoning rules needed for Airbnb to stop suburban rents declining
12 Sep 2022 No recession, but more interest rate rises coming
12 Sep 2022 Are you undertaking regular client KiwiSaver reviews?
10 Sep 2022 Saturday Special: Early bird Better Business conference tickets
09 Sep 2022 Fonterra's 'significant' upgrade happy surprise for NZ's market
09 Sep 2022 The Value of Financial Advice in a VUCA World
09 Sep 2022 Just a 1.1% increase in house values last month
09 Sep 2022 Third compensation payment to Kāinga Ora tenant over unruly neighbours
09 Sep 2022 It’s a fact: KiwiSaver fees in NZ are low
09 Sep 2022 Wanted – Fidelity Life looking for the next generation of financial advisers.
08 Sep 2022 NZ market starts to see pick-up in volume
08 Sep 2022 TE adds Tauranga office
08 Sep 2022 Banks should not get special treatment
07 Sep 2022 NZ shares falter as US economy charges forward
07 Sep 2022 Non banks and finance companies say banks should not get special treatment
07 Sep 2022 Fidelity Life appoints head of group insurance
07 Sep 2022 Financial Advice NZ Awards winners
07 Sep 2022 Listings highest for 11 years as prices start to plateau
06 Sep 2022 RBA hikes cash rate by another 50 basis points
06 Sep 2022 National's answer to CCCFA
06 Sep 2022 Banks to be removed from CCCFA under National
06 Sep 2022 New director for Financial Advice New Zealand
06 Sep 2022 Ethical KiwiSaver leaves others in its wake
06 Sep 2022 New director for Financial Advice New Zealand
06 Sep 2022 Inflation eroding super payments and savings rapidly
05 Sep 2022 'News vacuum' cause for quiet market
05 Sep 2022 UniMed welcomes new board member
05 Sep 2022 New townhouses keep building consents high
05 Sep 2022 Falls and green shoots in housing market
05 Sep 2022 Cigna offers free specific injury cover offer
03 Sep 2022 Baking a small but better pie
03 Sep 2022 Saturday Special: Spotlight on business lending
02 Sep 2022 NZ dollar lingers lower for another day
02 Sep 2022 Cigna's latest enhancements to non-medical limits and requirements
02 Sep 2022 FMA makes permanent stop order against adviser
02 Sep 2022 The latest results season has proven better-than-feared – what does this mean for the outlook for NZ stock market?
01 Sep 2022 NZ dollar dips as equities hit by post-earnings season blues
01 Sep 2022 [WATCH] What National would do to fix CCCFA and more
01 Sep 2022 [WATCH] What National would do to fix CCCFA
August 2022
31 Aug 2022 NZ shares fall on US interest rate rises
31 Aug 2022 Life sciences and healthcare sectors becoming a key focus for property investors
31 Aug 2022 The great KiwiSaver U-turn
31 Aug 2022 Vile abuse leads to big compensation awards
31 Aug 2022 ASB says tough year ahead but long term prospects improve
31 Aug 2022 Treasury research found more evidence of housing burden on the elderly
31 Aug 2022 Tough year ahead but long term prospects improve – ASB
31 Aug 2022 Parker quietly tables proposed $225m KiwiSaver tax
30 Aug 2022 Index heavyweights pull NZ market higher
30 Aug 2022 More evidence of housing burden on the elderly – Treasury research
30 Aug 2022 Govt expected to move on data sharing
29 Aug 2022 A2 results pull shares into land of milk and honey
29 Aug 2022 Bouncy castle deflating
29 Aug 2022 Kiwibank says fixed rate mortgages may have peaked
29 Aug 2022 Fixed rate mortgages may have peaked: Kiwibank
29 Aug 2022 Changes to commission payments in new agreements
27 Aug 2022 Fund managers owning more in so-called, bad companies
27 Aug 2022 [TMM] Saturday Special
26 Aug 2022 NZ market flat after jam-packed earnings week
26 Aug 2022 Prospa NZ makes significant contribution
26 Aug 2022 Prospa makes significant contribution to parent company
26 Aug 2022 Wholesale investments in the regulator's sights
25 Aug 2022 Air NZ's results doesn't surprise the market
25 Aug 2022 Housing confidence and investor buying plunge
25 Aug 2022 Changes at AIA
25 Aug 2022 Why now could be the right time to diversify
24 Aug 2022 Spark's standout' result pulls market higher
24 Aug 2022 $8.7 mill mortgage fraud case nears end
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