GoodReturns
Archive - 2010
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July 2010
29 Jul 2010 OCR up 25 basis points
29 Jul 2010 Deputy Banking Ombudsman appointed as FSCL CEO
28 Jul 2010 Mayhew to get Code for approval Friday
28 Jul 2010 Top broker shares his business
28 Jul 2010 Wrightson Finance fails to get quorum to extend bonds
28 Jul 2010 Ballantyne running Accuro
28 Jul 2010 Dorchester debenture holders get a warning
28 Jul 2010 ISI: We have not flip flopped on policy
28 Jul 2010 Women in Super breakfast
28 Jul 2010 Lonsec research bound for New Zealand
28 Jul 2010 House prices to fall, rents to rise
27 Jul 2010 Strategic Finance liquidation not a fishing expedition, trustee says
27 Jul 2010 Butler stays on for another year
27 Jul 2010 KiwiSaver funds in the red
27 Jul 2010 KiwiSaver Performance Survey - June 2010
27 Jul 2010 Ban on commissions no longer imminent
27 Jul 2010 House prices likely to stay flat
26 Jul 2010 First cut to long term bank TDs for months
26 Jul 2010 Hawkins' Budget Loans pleads guilty to misleading investors
26 Jul 2010 News Round Up
25 Jul 2010 Economists and markets say interest rates up this week
24 Jul 2010 Greens want new standards for rental properties
23 Jul 2010 It's time for Gareth to shut up
23 Jul 2010 IRD's property focus getting sharper
23 Jul 2010 UPDATED: ISI changes anti-churning policy after meeting advisers
23 Jul 2010 IFA plans its future
22 Jul 2010 ISI policy a gas
22 Jul 2010 RTA amendments finally passed
22 Jul 2010 SFO starts new Blue Chip probe
22 Jul 2010 PAA welcomes ISI move
22 Jul 2010 Flattening yield curve
22 Jul 2010 Advisers need to learn how to price their services
21 Jul 2010 Institute of Financial Advisers Conference 2010
21 Jul 2010 Regulator aims for 95% repayment for investors in frozen ANZ/ING funds
21 Jul 2010 Treasury pans Power’s bid to fast-track super-regulator
20 Jul 2010 Fierce competition to educate advisers
19 Jul 2010 Government pays out $79 mill to guaranteed deposits
19 Jul 2010 NAB gains more time to meet regulator concerns on AXA offer
19 Jul 2010 AIG nabs Pru man to lead float of AIA business
19 Jul 2010 News Round Up
19 Jul 2010 Canterbury investment properties hard to move
18 Jul 2010 Rates Round Up
16 Jul 2010 Making property a long distance love affair
16 Jul 2010 Does weak data mean the RBNZ should stop raising interest rates?
16 Jul 2010 Little evidence for aggressive interest rate hikes
16 Jul 2010 Little evidence the RBNZ needs to aggressively raise rates
16 Jul 2010 No fairy tale ending
16 Jul 2010 ING waiting to see how LM Investment refinancing works out
15 Jul 2010 PSIS knocking on door of investment-grade credit rating
15 Jul 2010 Asset Finance turns profitable ahead of govt guarantee expiry
15 Jul 2010 ISI boss resigns
15 Jul 2010 Better boundaries sought on the draft Code
15 Jul 2010 Soft housing activity predicted for the rest of the year amid weak REINZ data
14 Jul 2010 Bublitz lashes out over Mutual Finance receivership
14 Jul 2010 Home sales sink further to second-worst June in 10 years
14 Jul 2010 Residential highlights - June 2010
14 Jul 2010 Govt came close to changing capital gains tax rules on property
14 Jul 2010 Tax rebate pared back ANZ/ING settlement target
13 Jul 2010 Two non-bank lenders exit market
13 Jul 2010 Statutory manager freezes another Hubbard investment vehicle
13 Jul 2010 Looming inflation problem or not?
13 Jul 2010 Fraud attempts at AXA
13 Jul 2010 ING's KiwiSaver status being questioned
13 Jul 2010 Property investors staying put in this buyers' market
12 Jul 2010 Code Committee wants to align review with 5-yearly MED update
12 Jul 2010 Banks adjust short TD rates
12 Jul 2010 Rates Round Up
12 Jul 2010 CFA founder appointed as GIPS Council chair
12 Jul 2010 Sovereign marcoms manager moves on
12 Jul 2010 Morningstar rerates Brook fund
12 Jul 2010 Property investors still sitting on their hands
12 Jul 2010 QV Main urban areas commentary: June 2010
09 Jul 2010 NZDMO looks for trans-Tasman harmony in inflation-indexed bonds
09 Jul 2010 The seven considerations in deciding to float or fix
09 Jul 2010 Workplace Savings NZ Breakfast
09 Jul 2010 [Weekly Wrap] Not a vintage week for ISI
09 Jul 2010 Platforms no barrier for independence
08 Jul 2010 SCF claws back $50m, appoints managers
08 Jul 2010 Workplace Savings NZ Breakfast
08 Jul 2010 Long term fixed rates slashed
08 Jul 2010 Five-year rates, one year on..
08 Jul 2010 Be wary of raising rents
07 Jul 2010 ISI ceo and others charged by Securities Commission
07 Jul 2010 Dominion and North South directors accused of misleading investors
07 Jul 2010 Macquarie targets one Devon departee
07 Jul 2010 Sellers still keen to meet the market
06 Jul 2010 RBA leaves rates unchanged
06 Jul 2010 Instant Finance triples profit on debenture exit, swipes at guarantee
06 Jul 2010 ISI says it will now consult on its new anti-churning policy
06 Jul 2010 The case for KiwiSaver insurance
06 Jul 2010 NZMBA adds Lender of the Year award
06 Jul 2010 Rate rises wrong as economy stalls: NZIER
06 Jul 2010 Three public meetings on new Code planned
05 Jul 2010 Receivers hope to get a further 5c for Lombard Finance investors
05 Jul 2010 Fixed mortgage rates jump lower
05 Jul 2010 Winter malaise sets in as Auckland house sales slump
05 Jul 2010 More major cuts
05 Jul 2010 News Round Up
05 Jul 2010 Mortgagee sales increase in Auckland and Northland
04 Jul 2010 Scrabble for six- to 12-month deposits this week
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.
12 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.
14 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