GoodReturns
Archive - 2009
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August 2009
24 Aug 2009 ASFONZ Education – Introduction to Workplace Savings
24 Aug 2009 BNZ coy on whether it will return to brokers
23 Aug 2009 Rates Round Up
22 Aug 2009 News Round Up
21 Aug 2009 [Weekly Wrap] ING coughs up $400 million
21 Aug 2009 Out of the woods
21 Aug 2009 Select committee enquiry into finance companies launched
20 Aug 2009 Kiwibank continues break neck growth
20 Aug 2009 Forecasting interest rates dangerous
20 Aug 2009 First home buyers' scheme expanded
20 Aug 2009 Surrenders hit AMP's life book
20 Aug 2009 First home buyers' scheme expanded
20 Aug 2009 ING makes $398m payment to frozen fund investors
20 Aug 2009 Interest rate changes this week
20 Aug 2009 Gap between OCR and 5yrs opens
20 Aug 2009 Marac faces long road to bank status
20 Aug 2009 Marac faces long road to bank status
20 Aug 2009 Westpac warns of waning rates
19 Aug 2009 Bank continues unusual behaviour
19 Aug 2009 Prevent fraud through pre-tenancy checks
19 Aug 2009 PLAN NZ up for sale
19 Aug 2009 Women in Super 'After Five' Function
19 Aug 2009 Capital gains tax back on the menu?
19 Aug 2009 AXA GI swaps Brook for global infrastructure fund
19 Aug 2009 First residential real estate trust on its way
18 Aug 2009 F&P Finance doing better than expected
18 Aug 2009 New philanthropy manager at Guardian
18 Aug 2009 BNZ scraps mobile mortgage managers
18 Aug 2009 SPI Capital: Syndication domination
18 Aug 2009 AMP's new local SRI paves the way for better analysis
17 Aug 2009 Further rate cut unlikely to inflame housing market
17 Aug 2009 BNZ and Kiwibank increase long term TD rates
17 Aug 2009 Mark Childs wins Broker of the Year
17 Aug 2009 Landlord of the Year announced
16 Aug 2009 Rates Round Up
16 Aug 2009 Standards for some advisers could be higher than first thought
16 Aug 2009 Australian economic downturn 'shallower', rates will rise, Stevens say
16 Aug 2009 ShareTrader
14 Aug 2009 NZMBA Conference 2009
14 Aug 2009 [Weekly Wrap] Slings, arrows and a bit of outrageous fortune
14 Aug 2009 Big growth in trauma sales
14 Aug 2009 My earlier advice right, says Alexander
14 Aug 2009 Two top finance companies junked
14 Aug 2009 House prices and sales volumes steady
13 Aug 2009 Two top finance companies junked
13 Aug 2009 Johnson joins Russell
13 Aug 2009 Message in a bottle
13 Aug 2009 Yield curve gets even steeper
13 Aug 2009 Kiwibank laying down the gauntlet
13 Aug 2009 Brutally competitive deposit rates as banks woo savers
13 Aug 2009 Fyfe on board as new advisory group tees off
13 Aug 2009 Tower expands KiwiSaver development team
13 Aug 2009 PINs protection weakened
13 Aug 2009 Capital gains tax on property still alive
12 Aug 2009 Keeping P out of your property
12 Aug 2009 Opinion: Could commission disappear?
12 Aug 2009 Kiwibank set to dump Mercer as its KiwiSaver manager
11 Aug 2009 NZF moves from LMI to LEM
11 Aug 2009 Banks up stakes in the term deposit battle
11 Aug 2009 PIS National Conference 2009
11 Aug 2009 Market Review: August 2009 Commentary
11 Aug 2009 Market Review: August 2009 London Commentary
11 Aug 2009 House prices set to soar
11 Aug 2009 Head announced for Perpetual Asset Management
11 Aug 2009 Ombudsman looks to open service to advisers
10 Aug 2009 Market getting ahead of itself with pricing in rate rises
10 Aug 2009 Rates round-up
10 Aug 2009 Fee-based firm looks to grow
10 Aug 2009 Vidler changes tack at Fidelity Life
10 Aug 2009 Property values rise for third straight month
10 Aug 2009 Regional snapshot: QV
07 Aug 2009 [Weekly Wrap] Pierce to leave AIG; ING Life appoints new MD
07 Aug 2009 Data re-vamp good news for investors
07 Aug 2009 Pierce to leave AIG
07 Aug 2009 ING Life appoints new MD
07 Aug 2009 REINZ house price index gets makeover
07 Aug 2009 Kiwi commodities missing out on inflation-hedging opportunities
07 Aug 2009 Now a good time to buy a house: survey
06 Aug 2009 RB mum on who it has given exemptions too
06 Aug 2009 Employment numbers help keep rates low
06 Aug 2009 SBS raises rates: Will others follow?
06 Aug 2009 Current swap rates docile
06 Aug 2009 ASFONZ 2009 Forum
06 Aug 2009 Long term rates steep.
06 Aug 2009 Camelot Mid-Year Conference
06 Aug 2009 Where's Boris?
06 Aug 2009 IRG looks for $500,000 in capital
05 Aug 2009 Recovery of collapsed finance company books starts
05 Aug 2009 Women in Finance Lunch
05 Aug 2009 Auckland home sales fall as listings rise
05 Aug 2009 Everyone's an adviser, but not necessarily a financial planner
05 Aug 2009 [Book] The Housing Bubble by Kieran Trass
04 Aug 2009 Officials still deciding whether insurance products Category 1or 2
04 Aug 2009 PAA August Roadshow
04 Aug 2009 More signs banks easing lending rules
04 Aug 2009 Brown steps down from ombudsman
04 Aug 2009 Taskforce calls for even tougher regulation on financial advisers
04 Aug 2009 Banks driving apartment buyers to the suburbs
03 Aug 2009 Still some hope OCR will be cut again this year
03 Aug 2009 Investing made easy: Knowledge is power
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.
13 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.
15 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