GoodReturns
Archive - 2009
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August 2009
03 Aug 2009 Rates Round Up
03 Aug 2009 Advisers to become personally liable for advice
July 2009
31 Jul 2009 Rates one big game of poker
31 Jul 2009 IFA awards members
31 Jul 2009 Letting services under the spotlight
30 Jul 2009 Rates one big game of poker
30 Jul 2009 Building law being streamlined
30 Jul 2009 Bollard holds OCR at 2.5%
30 Jul 2009 Bollard keeps OCR steady but flags further cuts
30 Jul 2009 OCR unchanged at 2.50%
30 Jul 2009 Cotton talks up adviser business statement
30 Jul 2009 Aussie banks eyeing up wealth management opportunities
29 Jul 2009 Geared KiwiSaver fund offers bigger returns - and risks
29 Jul 2009 Permanent term ends for AIG
29 Jul 2009 Building consents drop in June, due to apartments
29 Jul 2009 IFA Conference 2009
29 Jul 2009 Advisers interested in infrastructure fund
28 Jul 2009 It's time to counter bad press
28 Jul 2009 Uncertainty remains certain
28 Jul 2009 Rates Round Up
28 Jul 2009 Equities the asset class to watch
28 Jul 2009 Home loan rates falling, even with rises
28 Jul 2009 Surge in demand for serviced apartments
27 Jul 2009 Property indicators on the way up
27 Jul 2009 News round-up
26 Jul 2009 Bollard to leave rates unchanged this week
24 Jul 2009 [Weekly Wrap] Industry architects revealed
24 Jul 2009 A guide to UK pension transfers
24 Jul 2009 Financial advisers to blame for over-subscription to frozen ING funds
23 Jul 2009 Alexander still favours three year rates
23 Jul 2009 The health of the home loan market.
23 Jul 2009 Eriksens Superannuation and Investment Conference 2009
23 Jul 2009 Opinion: Asking the right questions
23 Jul 2009 IFA confident adviser regulation won’t be hindered by under-funding
23 Jul 2009 [NEW Product] The NZ Investment Game
22 Jul 2009 Kiwibank cash PIEs top a billion dollars
22 Jul 2009 Consumers have choices over home loans: English
22 Jul 2009 First Step investment trusts wind-down stall as buyers dry up
22 Jul 2009 The 10 people who will decide advisers' future
22 Jul 2009 Marac and Perpetual Trust get a makeover
22 Jul 2009 Rents hit by oversupply of property
21 Jul 2009 Bank bashing the hot new game
21 Jul 2009 Bankers considering enquiry attendence
21 Jul 2009 Code Committee named
21 Jul 2009 Banks look to target ING's 14,000 frozen funds clients
21 Jul 2009 Super fund dumps ING and Smartshares
20 Jul 2009 Economists start to warn of rate rises
20 Jul 2009 Asset Allocation Summit 2009
20 Jul 2009 Rates Round Up
20 Jul 2009 News round-up
20 Jul 2009 New COO for Southern Cross
20 Jul 2009 Veda’s new credit rating product receives mixed response from property investors
17 Jul 2009 In the line of fire
17 Jul 2009 Chinese recovery could be 'biggest disappointment yet'
17 Jul 2009 PAA picks new CEO
17 Jul 2009 Three new players for Perpetual
16 Jul 2009 ING July Roadshow
16 Jul 2009 Forthcoming rise in interest rates could catch out property owners
16 Jul 2009 Trans-Tasman superannuation portability all but signed off
16 Jul 2009 PAA picks new CEO
16 Jul 2009 ASB makes changes to its wealth management strategy
15 Jul 2009 ING July Roadshow
15 Jul 2009 Where to for interest rates?
15 Jul 2009 Strategic Finance loss widens
15 Jul 2009 Regs look too heavy for sole practitioners, SIFA chief says
15 Jul 2009 Asteron product enhancements well-received
15 Jul 2009 Credit crunch hits NZ brokers harder than Aust
15 Jul 2009 Property Investors see light at the end of the tunnel
15 Jul 2009 Migration keeps property market chugging along
14 Jul 2009 ING July Roadshow
14 Jul 2009 Mortgage rate stimulus for housing market easing
14 Jul 2009 White-labelled KiwiSaver schemes under IRD spotlight
14 Jul 2009 Lift in market activity continuing
14 Jul 2009 New sale and purchase agreement on its way
14 Jul 2009 PLAN NZ restructures
13 Jul 2009 Investors make politicians look silly
13 Jul 2009 Nearly all investors accept ING offer
13 Jul 2009 RBNZ releases tougher rules for non-bank sector
13 Jul 2009 Time to move from floating to fixed: Westpac
13 Jul 2009 SCF related-party lending faces severe prune under draft rules
13 Jul 2009 Rural property reaches realistic levels after 'euphoric' high
13 Jul 2009 The National Partnership Roadshow
13 Jul 2009 Political pressure placed on ING
13 Jul 2009 News round-up
13 Jul 2009 Economists unanimous on next OCR move
13 Jul 2009 Rates Round Up
10 Jul 2009 [Weekly Wrap] The changing face of adviserland
10 Jul 2009 Predicting the unpredictable
10 Jul 2009 PSIS eyes return to brokers
10 Jul 2009 ING ends exclusive deal with Strategi
09 Jul 2009 Alexander opts for rate protection
09 Jul 2009 Viaduct wants Govt guarantee back
09 Jul 2009 Median house sale prices edges up, volumes dip
09 Jul 2009 REINZ residential highlights - June 2009
09 Jul 2009 Floating rates calm - for now
09 Jul 2009 ASFONZ & Women in Super Industry Breakfast
09 Jul 2009 Spicers bumps advisers but keeps Gould ones
09 Jul 2009 BondWatch still has a future in new world
08 Jul 2009 Banks likely to 'tough it out'
08 Jul 2009 Opinion: Where risk comes from
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.
10 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