GoodReturns
Archive - 2023
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September 2023
15 Sep 2023 ESG ratings provider faces layoffs
14 Sep 2023 NZ sharemarket suffers from ex-dividend blues
14 Sep 2023 FMA aware of but won't comment on Southern Cross benefit removal
14 Sep 2023 Chubb has new head underwriter
13 Sep 2023 NZX50 breaks an eight day losing streak
13 Sep 2023 Housing market perkier than expected as it turns around
13 Sep 2023 A record high for New Zealand Super Fund
13 Sep 2023 Industry researchers also in the dark on Southern Cross benefit
13 Sep 2023 Harbour Investment Outlook: Past the winter solstice, but is it spring yet?
12 Sep 2023 NZ sharemarket steadies after govt opens the books
12 Sep 2023 Treasury warns of more pain if interest rates rise
12 Sep 2023 New small business lending platform launches in New Zealand
12 Sep 2023 A healthier market in sight
12 Sep 2023 Generate impact investment builds new homes in Christchurch
12 Sep 2023 Tech stack stuff
12 Sep 2023 Prospa joins Lend Capital’s new lending marketplace launch
12 Sep 2023 Nikko looks to be slightly defensive
11 Sep 2023 NZ sharemarket slips ahead of economic and fiscal update
11 Sep 2023 The AI revolution - what's next for the financial services industry?
11 Sep 2023 Reining in the Reserve Bank
11 Sep 2023 Past decade sees financial adviser role evolve
11 Sep 2023 Reining in the RBNZ
11 Sep 2023 Submissions open on new 'protection of KiwiSaver members' bill
09 Sep 2023 Burning down the house
08 Sep 2023 NZX50 slides to nine-month low
08 Sep 2023 Other health insurers are much more generous than Southern Cross
08 Sep 2023 [OPINION] New Zealand’s broken property market
08 Sep 2023 National could expand bank market study
08 Sep 2023 Raid on commercial investors depreciation of assets detrimental
08 Sep 2023 Visit to US advisers yields growth tips aplenty
07 Sep 2023 NZX50 flat as companies go ex-dividend
07 Sep 2023 Freeing up foreign investment
07 Sep 2023 Lack of PE investment in KiwiSaver means members miss out
06 Sep 2023 NZX50 continues its slow slide
06 Sep 2023 Dire economic outlook should be positive for bonds: Nikko
06 Sep 2023 Confidence on interest rate cuts next year vanishes
06 Sep 2023 Dunedin’s buy-up plan to mitigate climate change
05 Sep 2023 NZX 50 hits new low for 2023
05 Sep 2023 House sales rise more than 50% on a year ago
05 Sep 2023 [GRTV] You never write off the Kiwis
04 Sep 2023 SkyCity's share plunge dominates NZ sharemarket
04 Sep 2023 Not a huge market for foreign buyers
04 Sep 2023 Liberty makes three key appointments
04 Sep 2023 NZ Super Fund buys into European infrastructure provider
04 Sep 2023 We may be trusted advisers to our clients, but insurers don't trust us
04 Sep 2023 [GRTV] Advisers can thrive
03 Sep 2023 JMI Wealth appoints two senior advisers
02 Sep 2023 COMMENT: What is Westpac's real profit number?
01 Sep 2023 Auckland airport a bright note in a dull day on the NZ sharemarket
01 Sep 2023 Southern Cross says it told advisers, policyholders of withdrawn benefit
01 Sep 2023 Pepper buys HSBC's NZ home loans book
01 Sep 2023 Non-bank lender buys HSBC's home loan book
01 Sep 2023 BREAKING NEWS: HSBC loan book gets a surprisng new owner: one of the non-banks
01 Sep 2023 Southern Cross drops $60k benefit by stealth: agents
01 Sep 2023 [GRTV] KiwiSaver: a ticket to prosperity that politicians don’t get
August 2023
31 Aug 2023 A bleak August for the sharemarket ends on a slight uplift
31 Aug 2023 Room to improve compliance support in NZ
31 Aug 2023 Finsure sees room to improve compliance support in NZ
31 Aug 2023 Spending on nice to haves rapidly shutting down
31 Aug 2023 Waiting for election day and possible relief
31 Aug 2023 More KiwiSaver enters sin stocks through passive investing
30 Aug 2023 Market flat as property stocks fall on National policy
30 Aug 2023 Easier bank lending v mortgage test rates
30 Aug 2023 Where the FMA is headed
29 Aug 2023 NZ sharemarket lifts as results brighten investors' mood
29 Aug 2023 NZHL makes appointment to drive growth
29 Aug 2023 Heartland grows its reverse mortgage business
29 Aug 2023 Debt consolidation helps drive Heartland reverse mortgage business
29 Aug 2023 Restoring housing affordability
29 Aug 2023 Heartland's reverse mortgages grow at more than 20%
28 Aug 2023 NZ sharemarket lifts on budget cuts and US news
28 Aug 2023 Sub-optimal contributions all round
28 Aug 2023 Mortgage lending make-up revealed
28 Aug 2023 Thoughts on underperformance by an active manager
26 Aug 2023 COMMENT: RBNZ is still capable of producing worthwhile research
25 Aug 2023 NZ sharemarket dips despite solid results
25 Aug 2023 [The Wrap] NZers will be left exposed if CoFI is repealed
25 Aug 2023 CEO Bessemer to leave Trustees Executors
25 Aug 2023 NZX Smartshares lifts FUM 29% in six months ended June
25 Aug 2023 Proposed new RTA clause not needed
25 Aug 2023 The role of FAPs in building consumer confidence
24 Aug 2023 High flying Air NZ does not lift the sharemarket
24 Aug 2023 Nikko grows investment team with key appointment
24 Aug 2023 Surge in migration a double edged sword
24 Aug 2023 The fee-for-service model
23 Aug 2023 Ebos leads NZX50 higher for a second day
23 Aug 2023 TAP adds two
23 Aug 2023 More pain; ANZ hikes; TAP hires
23 Aug 2023 Further step to regulation of property managers
23 Aug 2023 More mortgage pain on the horizon
23 Aug 2023 nib NZ expects its insurance to be resilient in the face of rising cost of living
23 Aug 2023 MyFiduciary links up with iwi
22 Aug 2023 Solid results brought an end to days of decline for NZ sharemarket
22 Aug 2023 No way CoFi can stay – National
21 Aug 2023 NZX50 continues to slump despite some upbeat results
21 Aug 2023 Migration helps housing find a floor
21 Aug 2023 CCCFA rules are now sort of semi-embedded in banks
21 Aug 2023 Loosening CCCFA rules might not be enough
21 Aug 2023 Transitioning an advice business in the 21st century
19 Aug 2023 A new source of business; Nat's KiwiSaver policy nuts
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.
20 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.
22 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