GoodReturns
Archive - 2013
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July 2013
12 Jul 2013 Sue Brown moves to new role at FMA
12 Jul 2013 [Weekly Wrap] Hughes is becoming mobile; so are we
12 Jul 2013 Hughes prepares to saddle up
12 Jul 2013 Sea of red rates
12 Jul 2013 Watch out for added extras: ISO
11 Jul 2013 Hughes has some regrets
11 Jul 2013 FMA ceo Hughes to step down
11 Jul 2013 Westpac goes higher and challenges brokers
11 Jul 2013 Harbour wins international gong
11 Jul 2013 New app threat to brokers
11 Jul 2013 Another Kiwi does well in Australia
10 Jul 2013 OCR hike middle of next year, NZIER says; Buddle court date set
10 Jul 2013 Partners Life raises more capital
10 Jul 2013 Don't forget corporate bonds
10 Jul 2013 NZIER warns against early OCR hike
10 Jul 2013 Property Council: Bring in plan in one hit
09 Jul 2013 Get your loan approved on your mobile
09 Jul 2013 Westpac lets customers get home loan approvals on mobile phones
09 Jul 2013 Buddle trial date set
09 Jul 2013 Advice, not product point of difference
09 Jul 2013 Auckland price momentum grows: QV
09 Jul 2013 Capital gain expectation driving prices: Westpac
08 Jul 2013 Fidelity sells KiwiSaver and takes stake with buyer
08 Jul 2013 New app for advisers
08 Jul 2013 Should you use shares for income?
08 Jul 2013 Kiwibank GM wealth and insurance resigns
08 Jul 2013 Steps to mortgage broking success
08 Jul 2013 Prices are up, but where are the listings?
08 Jul 2013 Rents, tenant demand only up slightly: Trade Me
07 Jul 2013 [VIDEO] What it takes to be a top mortgage adviser
05 Jul 2013 Asteron to support charity
05 Jul 2013 Ross case adjourned
05 Jul 2013 [Weekly Wrap] Busy week for FMA
05 Jul 2013 ANZ pushes up home loan rates
05 Jul 2013 Police fail AML test
05 Jul 2013 Harbour Monthly Commentary: Bond Market Blues
05 Jul 2013 How much are your properties worth?
05 Jul 2013 How much are your properties worth?
04 Jul 2013 Fidelity KiwiSaver sale rumoured
04 Jul 2013 Tyndall two take leave
04 Jul 2013 Advisers wooed to Asian maket
04 Jul 2013 Property managers offer P testing
03 Jul 2013 Debt-fuelled bubble 'a mistake'
03 Jul 2013 Move to fixed rates takes hold
03 Jul 2013 Tyndall Monthly Commentary: Addicted to Quantitative Easing
03 Jul 2013 Auckland house prices hold steady
02 Jul 2013 Move to fix takes hold
02 Jul 2013 TOWER gets new CEO
02 Jul 2013 Pathfinder: Gold’s glitter – going, going, gone, or has it?
02 Jul 2013 BNZ hikes long term rates
02 Jul 2013 Unlawful and unethical behavior unnoticed
02 Jul 2013 ANZ questions sustainability
01 Jul 2013 Tools 'would have worked in last boom'
01 Jul 2013 QFE's report card: Could do better
01 Jul 2013 Houses for sale at six-year low
June 2013
30 Jun 2013 Former AXA man lands top job in Australia
30 Jun 2013 KiwiSaver boosting property sales
28 Jun 2013 Ross 'misled' to become an AFA
28 Jun 2013 [Weekly Wrap] Is it a case of banks versus advisers?
28 Jun 2013 Details of FMC regime revealed
28 Jun 2013 Long rate hikes from HSBC; Top up loans to get around LVR restrictions
28 Jun 2013 Equities OK for income: Pengana
28 Jun 2013 Ways around LVR restrictions
28 Jun 2013 Chris Lee adds another banker
28 Jun 2013 New Tribunal forms can be filed online
28 Jun 2013 Concern at rental loan scheme
27 Jun 2013 Adviser on trial
27 Jun 2013 Five Star guilty plea
27 Jun 2013 Loan restrictions could help maintain stability: RBNZ
27 Jun 2013 Fisher Funds gets new board members
27 Jun 2013 DIMS warning
27 Jun 2013 Loan restrictions could help maintain stability: RBNZ
27 Jun 2013 Squeeze on returns as rents stable
26 Jun 2013 Mortgage fraud charges
26 Jun 2013 Directors plead guilty
26 Jun 2013 KiwiSaver schemes under scrutiny
26 Jun 2013 Self managed KiwiSaver likely
26 Jun 2013 Facebook your home loan rate
26 Jun 2013 The rate rises keep coming; Facebook your rate
26 Jun 2013 Many agents not earning 'living wage'
25 Jun 2013 Don't fear the banks: Body
24 Jun 2013 UDC lifts half-year profit
24 Jun 2013 'Good response' to clear KiwiSaver explanation
24 Jun 2013 Harbour adds new analyst from overseas
24 Jun 2013 No good reason for soft dollar commissions: Naylor
24 Jun 2013 Supply shortage could increase
22 Jun 2013 Long rates rising
21 Jun 2013 FMA eyes KiwiSaver issuers
21 Jun 2013 [Weekly Wrap] Advice degree on the cards
21 Jun 2013 Kiwibank increases two-year rate
21 Jun 2013 Sovereign's latest commission deal
21 Jun 2013 FSCL reduces fees
21 Jun 2013 Investors told: Be careful
20 Jun 2013 Govt looks for new bank
20 Jun 2013 5 things wrong with bank sold life insurance
20 Jun 2013 Adviser fee levels unfair
20 Jun 2013 Reality check urged for first-time buyers
19 Jun 2013 AMP reports lift in fee income
19 Jun 2013 Predictions for floating rates
19 Jun 2013 Disability dilemmas put off insurer
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.
9 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.
11 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