GoodReturns
Archive - 2017
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August 2017
16 Aug 2017 New legislation may give advice industry new life
16 Aug 2017 PM rules out DTI ratio idea
15 Aug 2017 New executive director for Harbour
15 Aug 2017 Stalling market no reason to panic
15 Aug 2017 Super Fund: Carbon risk under-priced
15 Aug 2017 QFEs get licensing head-start
14 Aug 2017 ANZ appoints debt market director
14 Aug 2017 DTIs “perversely restrictive” for investors – report
14 Aug 2017 Political risk – New Zealand next?
14 Aug 2017 Working group lays out plans
14 Aug 2017 FNZC launches private investment channel
14 Aug 2017 Regional rentals yield lifestyle dream
12 Aug 2017 GRTV Ep3: Code working group; the value of opening up to your clients; and risk advice upheaval
11 Aug 2017 Westpac appoints acting head of third party banking
11 Aug 2017 Call for LVR review as sales plunge
11 Aug 2017 Getting to Know: Binu Paul
11 Aug 2017 ASB, Bank Direct and Sovereign move down
11 Aug 2017 Some active managers delivering little for fee: Report
10 Aug 2017 NZCU Baywide clicks over a milestone mark
10 Aug 2017 Mortgage Express and Q Advisor groups join together
10 Aug 2017 Sovereign for sale but who will buy?
10 Aug 2017 No dovish nod to future for RBNZ
10 Aug 2017 Magellan plans list global trust
10 Aug 2017 OCR unchanged: Details here
10 Aug 2017 OCR and MPS: What the Governor said
10 Aug 2017 Financial Advice NZ? Wait and see
10 Aug 2017 Thursday news in brief
09 Aug 2017 ASB lauds fixed rate rollovers
09 Aug 2017 Dale-Jones happy with Code Working Group
09 Aug 2017 Get basics right: Ballantyne
09 Aug 2017 Start dating your clients
09 Aug 2017 Dale-Jones: Judge us on our transparency
09 Aug 2017 Start dating your clients
09 Aug 2017 Get basics right: Ballantyne (+ VIDEO)
09 Aug 2017 CBA eyes Sovereign, CommInsure divestment
09 Aug 2017 ASB's first $1 billion profit
09 Aug 2017 ASB's billion dollar profit
09 Aug 2017 Dark clouds on landlords’ horizon?
09 Aug 2017 Goal-based insurance planning
09 Aug 2017 Managers struggle to find index to report against
09 Aug 2017 Hamilton price fixer gets $1 million fine
08 Aug 2017 Investing responsibly: passing the tipping point
08 Aug 2017 Law changes an imperfect improvement
08 Aug 2017 Upswing in Auckland rental yields
07 Aug 2017 TOP tenancy policy ignores rental realities
07 Aug 2017 OCR preview: Growing talk of future cuts
07 Aug 2017 10 future boom towns
07 Aug 2017 KiwiSaver knowledge too low: Survey
07 Aug 2017 Bill won't get through this term - so what?
06 Aug 2017 Future could hold OCR cuts
04 Aug 2017 Supply shortage will counter cooler market
04 Aug 2017 PAA hands out gongs, but not to lenders
04 Aug 2017 The big reveal (VIDEO)
04 Aug 2017 Bawden's business rebrand
04 Aug 2017 Getting to Know: Sue Brown
04 Aug 2017 Insurers worry about change: Report
04 Aug 2017 Awards to industry's finest
03 Aug 2017 PAA talks through concerns with ASB
03 Aug 2017 Kiwi Wealth mints responsible KiwiSaver solution
03 Aug 2017 New boss for Morningstar
03 Aug 2017 Financial Advice NZ set for take-off
03 Aug 2017 Milestone day for financial advice in New Zealand
03 Aug 2017 Milestone day for financial advice in New Zealand
03 Aug 2017 Return to traditional market – B&T
03 Aug 2017 TSB Trust to take over Fisher Funds
03 Aug 2017 The start of a new era in financial planning
03 Aug 2017 Thursday news in brief
03 Aug 2017 Trust laws get shake-up, and advice carve-out
02 Aug 2017 Growth funds shine again: Morningstar
02 Aug 2017 Insulation, heating improvement needed
02 Aug 2017 Mint gets A+ rating
02 Aug 2017 Co-Op bank goes long while others short
02 Aug 2017 Big city values plateau
02 Aug 2017 Advisers risk missing out on responsible investing surge
02 Aug 2017 Performance fees boost managers' earnings
01 Aug 2017 Partners Life profit flat on back of continued growth
01 Aug 2017 SBS eyes partnership with mortgage advisers
01 Aug 2017 Finally, mortgage rate moves
01 Aug 2017 Fewer houses coming on to market
01 Aug 2017 Many advisers 'won't pass licensing hurdle'
July 2017
31 Jul 2017 Auckland consents falling short
31 Jul 2017 Best investment returns from rental properties
31 Jul 2017 Global Equities: Why it's time to rethink
31 Jul 2017 Warminger, FMA withdraw appeals
31 Jul 2017 Demand high in Whangarei
31 Jul 2017 International equities: Approach with caution
31 Jul 2017 Make sure clients are correctly invested
31 Jul 2017 Robo exemption a win for big providers
28 Jul 2017 How to stay safe
28 Jul 2017 Getting to Know: Richard Klipin
28 Jul 2017 Associations give nod to Financial Advice NZ
27 Jul 2017 EDRs: Here's how to protect yourself from churn claims
27 Jul 2017 Minimum standards for insulation and heating a step closer
27 Jul 2017 Advisers should be whistle-blowers
27 Jul 2017 Thursday news in brief
26 Jul 2017 Booster buys into wine
26 Jul 2017 Bumpy lending ride continues
26 Jul 2017 Adviser complaints up 70pc
26 Jul 2017 New data shows property investor lending way down
26 Jul 2017 Healthy homes debate fires up
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.
10 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.
13 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".
2 days ago Paul Flood