GoodReturns
Archive - 2017
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July 2017
25 Jul 2017 More than insurance advice
25 Jul 2017 Rents a mixed bag across New Zealand
25 Jul 2017 Bigger questions to ask of retirement policy: Report
24 Jul 2017 Fisher joins Rich List
24 Jul 2017 BAA adds identity verification feature
24 Jul 2017 Warehouse offloads Money
24 Jul 2017 Slater to return to dispute resolutions
24 Jul 2017 Financial Advice NZ funding a work in progress
24 Jul 2017 6 ways to add commercial value
21 Jul 2017 New record heats up migration debate
21 Jul 2017 Kiwi company attracts $200 million global investment
21 Jul 2017 FMA finds room for improvement
21 Jul 2017 Robo exemption would clarify murkiness: FSF
20 Jul 2017 56% of Akld house costs due to land regulation
20 Jul 2017 Partners restarts shadow share scheme
20 Jul 2017 FMA overstepping bounds: Weatherston
20 Jul 2017 Peters wants spotlight on banks
20 Jul 2017 Thursday news in brief
20 Jul 2017 Decline in affordability round NZ
19 Jul 2017 Luck might run out for passive managers
19 Jul 2017 Performance fees still need work: Morningstar
19 Jul 2017 The rising cost of financial advice
19 Jul 2017 Lack of adviser voice 'scary'
19 Jul 2017 Europe recovery creating opportunities for investors
19 Jul 2017 Review a resounding win for the 'big end of town'
19 Jul 2017 Why now is the time for active management
19 Jul 2017 Will bonds bail you out next time?
19 Jul 2017 New builds: what investors should know
18 Jul 2017 Preparing for future investing trends
18 Jul 2017 Request useful investor information, advisers told
17 Jul 2017 Money Week approaches
17 Jul 2017 Get real!
17 Jul 2017 More than 75% of advisers using ETFs
17 Jul 2017 24 properties & a 4-hour work week
14 Jul 2017 Housing: National vs Labour
14 Jul 2017 SBS eyes 'partnership' with mortgage advisers
14 Jul 2017 Ross liquidators want $21m
14 Jul 2017 Getting to Know: Michael Naylor
14 Jul 2017 GRTV: Code working group, active v passive and the rising cost of financial advice
14 Jul 2017 ANZ launches scheme to help retain KiwiSaver clients
13 Jul 2017 Adviser gets community work, fine
13 Jul 2017 National sales volumes plummet
13 Jul 2017 Lyndal Cruickshank Brunt joins Plus4 Insurance Group
13 Jul 2017 Thursday news in brief
13 Jul 2017 Can experts predict market turning points?
13 Jul 2017 $2b tilting programme 'good example' for advisers
13 Jul 2017 Downward trend spreads
12 Jul 2017 Decline in banking sector profits - KPMG
12 Jul 2017 Committee argues for level playing field for advisers
12 Jul 2017 Political support for longer term leases
11 Jul 2017 Handing out the Infrastructure Fund
11 Jul 2017 Harbour appoints new COO to replace Kaye
11 Jul 2017 Opportunities in childcare sector
11 Jul 2017 MBIE: Advisers will be consulted
10 Jul 2017 Warminger appeal date set
10 Jul 2017 Change at top of Harbour
10 Jul 2017 Enabling better growth planning
10 Jul 2017 Debt capital markets change
10 Jul 2017 Concerns aired over Code Working Group
10 Jul 2017 Pattern Matching versus Doing Maths
10 Jul 2017 Top 10 dynamite growth areas
10 Jul 2017 Little medical cover for mental health
10 Jul 2017 Qualitative reports 'class advice'
09 Jul 2017 Bank battle costs sponsorship
08 Jul 2017 Active managers time is coming: Moore
07 Jul 2017 Advice becoming more expensive
07 Jul 2017 Day of reckoning to come
07 Jul 2017 Getting to Know: Simon Hassan
07 Jul 2017 ASB follows suit and raises rates
07 Jul 2017 Call for consistent retirement savings target guidelines
06 Jul 2017 Financial Advice NZ seeking mortgage voice
06 Jul 2017 LendMe rebrands, takes on Australia with bank boss at helm
06 Jul 2017 Mortgage fraud charges for group
06 Jul 2017 Making off-the-plan buying easier
06 Jul 2017 nib tackles costs to keep premiums down
06 Jul 2017 Get real on disclosure
06 Jul 2017 FMA rules could stop KiwiSaver robo before it starts
06 Jul 2017 Thursday news in brief
05 Jul 2017 Hawkish talk foreshadows rate rises
05 Jul 2017 Fidelity appoints distribution officer
05 Jul 2017 Low sales dragging prices down
05 Jul 2017 Auckland sales down by 30% - QV
05 Jul 2017 New AML classification for financial advisers - what changes?
05 Jul 2017 RTA amendments over first hurdle
04 Jul 2017 Return of Cup would benefit investors
04 Jul 2017 Last orders at the liquidity bar?
04 Jul 2017 Harbour re-launches income fund
04 Jul 2017 Advisers told: Your voice will be heard
03 Jul 2017 Finance boost for UDC buyer
03 Jul 2017 Upping the earthquake ante
03 Jul 2017 Complectus boss leaves firm after sale fails
03 Jul 2017 One up, one down
03 Jul 2017 West side story
03 Jul 2017 KiwiSaver: Advisers' saviour, or a lot of work for little gain?
03 Jul 2017 Insurers could do better: FSC
02 Jul 2017 Banks refuse comment on PAA letter
01 Jul 2017 Rise in apartments boosts choice
June 2017
30 Jun 2017 Warminger slapped with hefty penalty (+ JUDGMENT)
30 Jun 2017 Consents trend recovering
30 Jun 2017 Echoes of past cycle - ANZ
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.
16 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.
18 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