GoodReturns
Archive - 2015
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September 2015
01 Sep 2015 Hubbard investors' capital returned
01 Sep 2015 Appetite for annuities
01 Sep 2015 MDRT chair replaced
August 2015
31 Aug 2015 Greville mourned
31 Aug 2015 Kerr steps down
31 Aug 2015 Nikko picks up mandate
31 Aug 2015 RBNZ policy tweak “gamechanger” for Auckland’s supply woes
31 Aug 2015 Building consents hit 10-year high
31 Aug 2015 Today’s consumer can be hard work
31 Aug 2015 AML deadline looms
30 Aug 2015 Apteryx sale complete
30 Aug 2015 FMA urges KiwiSaver check-up
30 Aug 2015 McGuffie date set
29 Aug 2015 Will China’s share market meltdown impact on NZ’s property market?
28 Aug 2015 Two advisers investigated
28 Aug 2015 Kiwibank plans digital future
28 Aug 2015 New Zealand lagging on decumulation options
27 Aug 2015 Facebook trouble for Newland
27 Aug 2015 Major rental changes in Green Bill
27 Aug 2015 New broker boss at ANZ
27 Aug 2015 Former Mike Pero broker banned
27 Aug 2015 Mount appeals again
27 Aug 2015 FSC: KiwiSaver delivering for middle NZ
26 Aug 2015 OCR reviewed less often
26 Aug 2015 Portfolios, not products the key: James
26 Aug 2015 Queenstown: NZ's Boom Town
26 Aug 2015 Bright line test one step closer
25 Aug 2015 nib plots more growth
25 Aug 2015 Blaming investors not the answer
25 Aug 2015 RFAs not impressed by push for one standard
25 Aug 2015 Skip Auckland, investors urged
24 Aug 2015 How to programme your investments for success
24 Aug 2015 Investors increasing Auckland price pressure – RBNZ
24 Aug 2015 Quarter of AMP's profit now from wealth management
24 Aug 2015 Southall moved from review
24 Aug 2015 Fidelity cool on annuity request
21 Aug 2015 Record high migration adds to housing pressure
21 Aug 2015 OPI/MFS directors plead guilty
21 Aug 2015 LVR restrictions tweaked
21 Aug 2015 Funds for fee-conscious customers
20 Aug 2015 Intensification plans: Auckland Council speaks out
20 Aug 2015 Smee leaves Kepa role
20 Aug 2015 QROPs rules snag NZ advisers
20 Aug 2015 nib backs health insurance bill
19 Aug 2015 Rental market stalls nationwide
19 Aug 2015 Milford gets DIMS licence
19 Aug 2015 How to avoid a negligence case
18 Aug 2015 RAM clawback notices issued
18 Aug 2015 Property prices to blame for S&P downgrade
18 Aug 2015 Harbour appoints analyst
18 Aug 2015 What could intensification mean for investors?
18 Aug 2015 Time to brace clients for end of golden returns
18 Aug 2015 Four legged tenants: the low down
17 Aug 2015 Suprising new marketing techniques
17 Aug 2015 SBS sharpens specials
17 Aug 2015 NZ faces rising financial system risks – S&P
17 Aug 2015 Bad times are gone: Dodds
14 Aug 2015 FMA tells managers about misconduct risks
14 Aug 2015 NZHL appoints new CEO
14 Aug 2015 Former Mike Pero adviser in court
14 Aug 2015 Westpac's turn today
14 Aug 2015 Advisers slow to switch on to responsible investing: RIAA
14 Aug 2015 Slater steps down
14 Aug 2015 Call to back health insurance bill
13 Aug 2015 No plans for trail from ASB
13 Aug 2015 South of Neutral OCR?
13 Aug 2015 Auckland median price down, national median price up
13 Aug 2015 ASB talks home loans; TSB cuts rates
13 Aug 2015 Home loan lending takes lower prominence at ASB
13 Aug 2015 AIA number one at MDRT
13 Aug 2015 Retirement planning has to start somewhere: FMA
13 Aug 2015 Ross test case driven by unfairness
12 Aug 2015 Super Fund gets responsible investing nod
12 Aug 2015 Auckland construction key to economic growth
12 Aug 2015 The Co-Op Bank's turn today
12 Aug 2015 Retirees have low risk tolerance but high expectations
11 Aug 2015 New Aussie tax rules affect Kiwi investors
11 Aug 2015 Interesting move from ASB
11 Aug 2015 Advisers offer free service
10 Aug 2015 CPD turned into game
10 Aug 2015 Barnes hands over chief executive role
10 Aug 2015 Squirrel to fire up NZ’s P2P market
10 Aug 2015 Questions to ask fund managers - Investment management
10 Aug 2015 Two lenders cut today
10 Aug 2015 Two advisers get personalised DIMS nod
10 Aug 2015 Fraud would cost adviser authorisation
10 Aug 2015 Rotorua values slowly rising
07 Aug 2015 Getting to know...Peter Lee
07 Aug 2015 Low rates spread across terms
07 Aug 2015 Commissions put pressure on: Report
07 Aug 2015 Submission slams FMA
07 Aug 2015 Mercer given bronze rating
07 Aug 2015 ASB ditches reverse mortgages
07 Aug 2015 MKR star's recipe for property success
06 Aug 2015 Housing shortfall could boost landlords
06 Aug 2015 Milford a test case, lawyer says
05 Aug 2015 C+M payout inches closer
05 Aug 2015 NZX trades up
05 Aug 2015 Has the Auckland market reached its price limit?
05 Aug 2015 Stick with KiwiSaver past 65, AMP urges
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.
2 days 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.
2 days 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.
4 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…
4 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".
4 days ago Paul Flood