GoodReturns
Archive - 2020
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September 2020
11 Sep 2020 Profit-taking pulls shares lower
11 Sep 2020 KiwiSaver - After the Covid downturn
11 Sep 2020 Covid be damned – the market is booming
11 Sep 2020 Turnaround time turmoil
11 Sep 2020 Turnaround time turmoil
11 Sep 2020 Bond specialist raises concerns over recent FMA guidelines
10 Sep 2020 NZ shares bounce with Wall St
10 Sep 2020 Tahito appoints AIA chief strategy officer as chair
10 Sep 2020 Real estate price-fixing saga ends with big penalty
10 Sep 2020 ANZ redeploys staff to broker applications
10 Sep 2020 Managers have abdicated responsibility: Kiwi Invest
10 Sep 2020 ANZ redeploys staff to broker applications
09 Sep 2020 Stock market selloff returns from holiday
09 Sep 2020 Southern Cross to bring mental health programme to kiwi kids
09 Sep 2020 AMP Capital appoints new fixed income analyst
09 Sep 2020 Interest rates, not bargains, driving investors
09 Sep 2020 Interest rates not bargains driving investors
09 Sep 2020 IRD offers guidance on cryptoassets
08 Sep 2020 Sky TV leads gains for second day
08 Sep 2020 Struggling to secure finance?
08 Sep 2020 Asteron Life goes live with new mental health support service
08 Sep 2020 COMMENT: Furore over Healthy Homes story misleading
08 Sep 2020 Economy faring better than expected; Where are properties selling above CVs?
08 Sep 2020 Should you stay, or should you go?
08 Sep 2020 Firms will need to 'consolidate and grow'
07 Sep 2020 Shares rise in quiet trading
07 Sep 2020 Economy performing better-than-expected: ASB
07 Sep 2020 Westpac not budging on investor LVR
07 Sep 2020 Westpac not budging on investor LVR
07 Sep 2020 FMA offers investors insight into bonds
04 Sep 2020 Sharpest drop on NZX in months
04 Sep 2020 Where are properties selling most above CVs?
04 Sep 2020 Non-bank criteria changing during pandemic; Tip for landlords
04 Sep 2020 Generating income in a negative rates world
04 Sep 2020 Responsible investment's gender gap
03 Sep 2020 Entertainment stocks lead market rally
03 Sep 2020 Non-bank criteria changing through Covid
03 Sep 2020 Households spend nearly a third of their income on mortgage
03 Sep 2020 COMMENT: Don’t miss your $5,000 deductions!
03 Sep 2020 Deloitte: Tricky to compare NZ insurance to other markets
03 Sep 2020 AMP reports 'increase in interest' in its businesses
02 Sep 2020 Shares rise, dollar hits 14-month high
02 Sep 2020 Households spending 32% of income on mortgage
02 Sep 2020 FSC offers info hub for advisers
02 Sep 2020 Super City powers through lockdown 2.0
02 Sep 2020 Moving rent tech out of the past
02 Sep 2020 Kiwibank profits fall; Market holds firm against Covid
02 Sep 2020 Financial Advice NZ conference gets funding
02 Sep 2020 Level five isn't the big issue for advisers; It's something else
02 Sep 2020 Financial advisers get cyber warning
01 Sep 2020 High consent issuance not expected to continue
01 Sep 2020 Strong currency weighs down exporters
01 Sep 2020 Kiwibank profits drop by 47%
01 Sep 2020 ANZ completes UDC sale
01 Sep 2020 Market holds firm in Covid-19 storm
01 Sep 2020 Advisers sail through second lockdown; Westpac rate cuts
01 Sep 2020 How did the second lockdown compare?
01 Sep 2020 Record housing stock lows round NZ
01 Sep 2020 Australian banks' offloading of wealth businesses continues
August 2020
31 Aug 2020 Heavyweight exporters fall as dollar rises
31 Aug 2020 Consents no longer needed for low-risk work
31 Aug 2020 Sub-2% mortgages for several years?
31 Aug 2020 Sub-2% rates for two to three years: economists
31 Aug 2020 Mint moves to new digital onboarding platform
31 Aug 2020 Online rent talk attracts ComCom attention
31 Aug 2020 Will hackers interfere with NZX for second week?
31 Aug 2020 Pathfinder gets B Corp status
31 Aug 2020 Steady Southern star
28 Aug 2020 [OPINION] The industry needs to shift focus from ‘what you need to do’ to ‘how will you do it?’
28 Aug 2020 Reeling from cyber attacks, NZX 50 shuffles to record
28 Aug 2020 Buyer sentiment at eight year high
28 Aug 2020 Resimac slashes prime servicing rate; Clouds loom over housing market
28 Aug 2020 Financial services sector questioned regulation draft
28 Aug 2020 How to write about money
27 Aug 2020 Third cyber attack halts NZX trading
27 Aug 2020 Resimac slashes servicing rate
27 Aug 2020 Clouds remain over housing market
27 Aug 2020 Sub 2% rates to boost housing market; Borrowing boom in July
27 Aug 2020 FMA appoints director of investment management
27 Aug 2020 Licences near 1,000 milestone
26 Aug 2020 Borrowing boom in July – before second lockdown
26 Aug 2020 Shares rise, cyber attack interrupts trading
26 Aug 2020 Borrowing boom in July – before second lockdown
26 Aug 2020 Sub-2% mortgages to boost house prices: ASB
26 Aug 2020 Rental growth slows; CFML floating rate cut
26 Aug 2020 Stubbs: Take KiwiSaver fees issue to court
25 Aug 2020 Network issue cuts bullish day short
25 Aug 2020 No rent growth for first time in three years
25 Aug 2020 Negative OCR would be a mistake: Kiwibank
25 Aug 2020 Negative OCR would be a mistake: Kiwibank
25 Aug 2020 FMA not backing an investment style despite report
24 Aug 2020 Wall Street leads property stocks higher
24 Aug 2020 Buying insurance can be a reassuringly normal thing to achieve
24 Aug 2020 Routine inspection pays off
24 Aug 2020 Mixed response to government business loan scheme
24 Aug 2020 AMP makes top-level changes amid allegations
24 Aug 2020 Nib braces for rush of treatments next year
24 Aug 2020 Mixed response to Business Finance Guarantee Scheme
24 Aug 2020 FMA releases active versus passive report
24 Aug 2020 Money Week an opportunity to reach out, Financial Advice NZ says
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.
1 day 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.
1 day 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.
3 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…
3 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