GoodReturns
Archive - 2008
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July 2008
29 Jul 2008 Growth in health insurance predicted to be flat
29 Jul 2008 Dalziel explains why APB model canned
28 Jul 2008 St Laurence Roadshow 2008
28 Jul 2008 Curtin now deputy at Commission
28 Jul 2008 News Round Up
25 Jul 2008 Newpark not selling: Gannon
25 Jul 2008 Mexican stand-off easing?
25 Jul 2008 St Laurence Roadshow 2008
25 Jul 2008 AIG looking for more growth
25 Jul 2008 Double hit for Hanover
25 Jul 2008 GE talks of the difficulty in NZ mortgage market
25 Jul 2008 Toolbox: Mapping for treasure
24 Jul 2008 Lots of big changes at AIG
24 Jul 2008 St Laurence Roadshow 2008
24 Jul 2008 OCR announcement
24 Jul 2008 Bollard cites unpleasant news as he slashes interest rates
24 Jul 2008 OCR reduced to 8.00%
24 Jul 2008 OCR reduced to 8.00%
23 Jul 2008 Answering the big question over Hanover
23 Jul 2008 Hanover hits standstill
23 Jul 2008 Hanover in trouble
23 Jul 2008 Investors like KiwiSaver, fret about government meddling
23 Jul 2008 Regional mortgage managers upbeat despite CMT suspension
23 Jul 2008 A lingering problem
23 Jul 2008 St Laurence Roadshow 2008
23 Jul 2008 IFA Success Forum 2008
23 Jul 2008 Negative forces consolidate
23 Jul 2008 Regional mortgage managers upbeat despite CMT suspension
22 Jul 2008 PIS July Development Days
22 Jul 2008 Canterbury Mortgage halts withdrawals as reserves dwindle
22 Jul 2008 St Laurence Roadshow 2008
22 Jul 2008 Tax changes mean higher premiums
22 Jul 2008 AMP Financial Services moving staff to Auckland
21 Jul 2008 Cymbis Australia misses repayments
21 Jul 2008 Marac closes offer and sets rate
21 Jul 2008 St Laurence Roadshow 2008
21 Jul 2008 Podmore resigns from Dorchester
21 Jul 2008 News Round Up
18 Jul 2008 Weekly Wrap: Advisory Group Pick 'n' Mix
18 Jul 2008 Capital + Merchant debenture holders may get just 8%
18 Jul 2008 Compare PIE fund rates
18 Jul 2008 AIG announces replacement for Brian Young
18 Jul 2008 NZ central bank to cut rates in next 3 months
18 Jul 2008 Home loan approval rates falling sharply
18 Jul 2008 Managers buy back Strategic
17 Jul 2008 Bearish sentiments
17 Jul 2008 Camelot searches for advice holy grail
17 Jul 2008 Confidence in rental property crashes
16 Jul 2008 IFA gets Investment SIG chair
16 Jul 2008 Mortgage applications fall 21% in first half, Veda says
16 Jul 2008 Mortgage applications fall 21% in first half, Veda says
16 Jul 2008 Opinion: Knowing what proportion of risks are covered
16 Jul 2008 Liontamer goes for a knockout
16 Jul 2008 Home loan report: Rollercoaster rates
16 Jul 2008 Home loan report: Rollercoaster rates
15 Jul 2008 World Bank NZ retail offer closes
15 Jul 2008 Insurance advisers agree to share
15 Jul 2008 Queenstown puts it in perspective
15 Jul 2008 Calls to standardise KiwiSaver rejected
15 Jul 2008 Instant Finance says it's OK
14 Jul 2008 ASSET – Network news: Inside 11 of NZ's top advisory firms
14 Jul 2008 St Laurence Roadshow 2008
14 Jul 2008 News Round Up
14 Jul 2008 Almost no house price growth: QV
14 Jul 2008 QV urban areas highlights - June 2008
13 Jul 2008 Tower adds more people
11 Jul 2008 Weekly Wrap: Who will win the regulation marathon?
11 Jul 2008 The end is nigh
11 Jul 2008 What’s on the cards
11 Jul 2008 REINZ residential highlights - June 2008
11 Jul 2008 Insurance boosts mortgage business
11 Jul 2008 Clients Gifts
11 Jul 2008 FIF rules put advisers offside
10 Jul 2008 Insurance Adviser of the Year
10 Jul 2008 Financial Planner of the Year
10 Jul 2008 Kinloch Funds Management Briefing
10 Jul 2008 Join Up, Join Up: The latest adviser regulation twist
10 Jul 2008 New adviser model promoted at last minute
10 Jul 2008 Legendary fund manager passes on
09 Jul 2008 NZMBA top broker announced for 2008
09 Jul 2008 Mass moves to commission-based agencies
09 Jul 2008 Overcoming client indecision and procrastination
09 Jul 2008 Kinloch Funds Management Briefing
09 Jul 2008 Five Star Finance directors prosecuted
09 Jul 2008 Emerging markets property fund launched
08 Jul 2008 Home loan report: Make it short!
08 Jul 2008 Home loan report: Make it short
08 Jul 2008 Silver lining for property managers
08 Jul 2008 Don't dump co-regulation, says ISI
07 Jul 2008 Hamilton: Dabbling in the river city
07 Jul 2008 The Asset Allocation Summit New Zealand 2008
07 Jul 2008 July issue - available now
07 Jul 2008 News Round Up
04 Jul 2008 Weekly Wrap: Educating the younger generation
04 Jul 2008 Keep your PI hat on and keep it Kiwi
04 Jul 2008 11th Annual NZMBA Conference
04 Jul 2008 TOWER Investments appoints Roger Perry
04 Jul 2008 Outside, inside out disclosure
04 Jul 2008 Investment managers bearish
03 Jul 2008 Auckland house prices fall; pain ‘still in pipeline’
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.
7 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.
9 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