GoodReturns
Archive - 2013
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August 2013
07 Aug 2013 Investors less keen to buy Crockers
06 Aug 2013 Fisher gets first performance fee
06 Aug 2013 More on high LVR lending
06 Aug 2013 Warren Buffett backs Partners Life
06 Aug 2013 Increasing numbers of RFAs moving towards AFA status
06 Aug 2013 Warning to construction firms: Not so fast...
05 Aug 2013 Low equity loans fine as long as priced properly: Church
05 Aug 2013 FADC's first hearing over in a flash
05 Aug 2013 Pathfinder Monthly Commentary
05 Aug 2013 When systems go bad
05 Aug 2013 RESIMAC makes some changes to rates and fees
05 Aug 2013 FADC hears first AFA complaints today
05 Aug 2013 New listings offer no supply boost: Barfoot
05 Aug 2013 First-home buyers driving prices more than investors: King
02 Aug 2013 Two banks join RealMe; another thinks about it
02 Aug 2013 Tyndall Monthly Commentary: China: External Discipline
02 Aug 2013 Fidelity completes TOWER buy
01 Aug 2013 AMP gets approval to combine schemes
01 Aug 2013 New rate from TSB
01 Aug 2013 KiwiSaver 'bailout' complied with rules: Westpac
01 Aug 2013 Regulation 'not successful'
July 2013
31 Jul 2013 [Opinion] Getting it off at the Playboy mansion
31 Jul 2013 Bank insurance practises queried
31 Jul 2013 Ireland keeps Code Committee chair
31 Jul 2013 Springboard clearly LVR move: Matthews
31 Jul 2013 Yield play on sharemarket diminishing
31 Jul 2013 LDC investors get full refund
31 Jul 2013 Broaden view on custody
31 Jul 2013 Consider other tools to cool market: Commentators
30 Jul 2013 Offsets open LVR debate
30 Jul 2013 Speirs re-enters finance market
30 Jul 2013 Code needs refreshing: Ireland
30 Jul 2013 Thursday deadline date for LM fund
29 Jul 2013 Westpac third to market with offset loan
29 Jul 2013 Kiwibank switches home loan focus
29 Jul 2013 FMA tells advisers how to give limited advice
29 Jul 2013 Prospects for the NZ sharemarket
29 Jul 2013 Strategic investors still likely to get 20%
26 Jul 2013 [Weekly Wrap] Who has the responsibility?
26 Jul 2013 F&P profit up 20%
26 Jul 2013 Reading the OCR tea leaves
26 Jul 2013 Problem found with AML
26 Jul 2013 Interest rates: A game of two halves
26 Jul 2013 Lowest rates have passed: ANZ
25 Jul 2013 Kiwibank promotes offsets
25 Jul 2013 Hike 'may come sooner than expected'
25 Jul 2013 No OCR change - see what RBNZ said
25 Jul 2013 Little improvement in financial literacy: Hughes
25 Jul 2013 No change from central bank; Rate change from big bank
25 Jul 2013 'Hike may come sooner than expected'
24 Jul 2013 Public design next app
24 Jul 2013 Making application process easier
24 Jul 2013 Dispute schemes offering carrots to advisers
24 Jul 2013 FMA files market manipulation claims
24 Jul 2013 Key backs off on first home buyer exemptions - a little
24 Jul 2013 Key backs off on first home buyer exemptions - a little
24 Jul 2013 Why accountants and lawyers are treated differently
24 Jul 2013 Newland: Buyers will find a way around restrictions
24 Jul 2013 Investors asked for their views
24 Jul 2013 Negotiate with insurers: ICNZ
23 Jul 2013 University boss gets Reserve Bank role
23 Jul 2013 RBNZ expected to be rock steady this week
23 Jul 2013 Performance fees pay off for Milford
23 Jul 2013 Key: LVR restrictions may be best solution
22 Jul 2013 Investor lodges complaint against FMA
22 Jul 2013 OCR move tipped within a year
22 Jul 2013 Brokers concerned about LVR restrictions
22 Jul 2013 Brokers concerned about LVR restrictions
22 Jul 2013 AFAs face more DIMS hurdles
22 Jul 2013 OCR rise tipped within a year
19 Jul 2013 [Weekly Wrap] KiwiSaver-only adviser mooted
19 Jul 2013 NZF frustrated waiting for Mike Pero
19 Jul 2013 ASIC wants LM wound up
19 Jul 2013 Rate watching
19 Jul 2013 Plans for a KiwiSaver only adviser being considered
19 Jul 2013 CVs no guide for insurance: Helm
18 Jul 2013 Asteron making hay
18 Jul 2013 Christmas OCR rise predicted
18 Jul 2013 Get out of bonds and into shares: Pain
18 Jul 2013 BNZ thinks floating rates about to rise
18 Jul 2013 BNZ thinks floating rates about to rise
18 Jul 2013 REAA: Buyers and sellers need more information
17 Jul 2013 S&P hedges its bets on GFNZ's rating
17 Jul 2013 TOWER discussing its solvency with RBNZ
17 Jul 2013 KiwiSaver managers have work to do: FMA
17 Jul 2013 TSB turn; OCR increase warning
17 Jul 2013 A Million Dollar view from Philly
17 Jul 2013 Small cities have big development costs
16 Jul 2013 Six-year moratorium about to end for Geneva
16 Jul 2013 First four named
16 Jul 2013 Rates just keep rising
16 Jul 2013 FMA ruling on AML overkill: PAA
16 Jul 2013 Kiwis struggling with commute trade-off: REINZ
15 Jul 2013 [Opinion] Bad news for advisers
15 Jul 2013 RI funds in New Zealand outperform
15 Jul 2013 What makes good insurance?
15 Jul 2013 HNZ guaranteed rent not enough
14 Jul 2013 NZ Home Loans cracks $1 bill mark
12 Jul 2013 How bank home loan rates compare
12 Jul 2013 Asteron to push level premium policies
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.
17 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.
19 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