GoodReturns
Archive - 2018
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August 2018
17 Aug 2018 [The Wrap] FARs just RFAs spelt differently; Invest responsibly
17 Aug 2018 Shortage reshapes Hamilton market
17 Aug 2018 Ballantyne opens up on her career
17 Aug 2018 60 basis point rate cut; Judge calls Pero relationship dysfunctional
17 Aug 2018 Kiwi managers become more responsible
16 Aug 2018 Mike Pero v Mike Pero companies – the battle continues
16 Aug 2018 NZ shares rise as Skellerup posts record profit
16 Aug 2018 Consumers expect rate rise: ASB
16 Aug 2018 Auckland a buyer's market; Financial Advice NZ puts case to minister
16 Aug 2018 FANZ sells Synergy to partner
16 Aug 2018 Caution behind muted expectations
15 Aug 2018 Foreign buyers now banned
15 Aug 2018 NZ shares rise as earnings continue; NZX gains on spec div
15 Aug 2018 REINZ data suggests
15 Aug 2018 Mike Pero and MPM back in court
15 Aug 2018 Shanks meets Faafoi
15 Aug 2018 REINZ data suggests "buyers' market" in Auckland
15 Aug 2018 Perpetual Guardian appoints head of Investment Advice
14 Aug 2018 NZ shares bounce back from Turkish sell-down, Summerset falls on mixed result
14 Aug 2018 Mike Pero v MPM $2.5 mill debt fight back in court
14 Aug 2018 Corporate Values, worth the effort?
14 Aug 2018 New Kiwibuild lending package; OCR could actually be cut
14 Aug 2018 Getting to grips with responsible investing
13 Aug 2018 NZ shares fall as Turkey woes ripple through markets; blue chips include F&P, Fletcher drop
13 Aug 2018 Kiwibank offers 90% KiwiBuild mortgages
13 Aug 2018 “Real” risk of OCR cut: Westpac
13 Aug 2018 Manawatu property man
13 Aug 2018 Article research and adviser perceptions
13 Aug 2018 NZ Funds targeting clients' points of pain
13 Aug 2018 Consumers will accept fitness trackers if they get a good discount: Study
10 Aug 2018 NZ shares up broadly on dollar weakness, TradeMe and A2 gain while Fonterra sinks
10 Aug 2018 [The Wrap] RFAs on notice; Ballantyne tells her story; Blunder - A book on DYF and RIF
10 Aug 2018 ANZ appoints new Aust equities manager
10 Aug 2018 Failure to provide heating costs
10 Aug 2018 One curious change
10 Aug 2018 Fidelity Life appoints key partnerships boss
10 Aug 2018 Advisers offered scholarship to upskill
10 Aug 2018 Asteron Life not sold with Australian business
09 Aug 2018 Ross investors upset at distribution plan
09 Aug 2018 NZ shares up as dollar weakens on OCR track, Pushpay, Skycity gain
09 Aug 2018 FMA: Adviser licensing will be a challenge
09 Aug 2018 Reserve Bank springs surprise with dovish OCR forecast
09 Aug 2018 Reserve Bank springs surprise with dovish OCR forecast
09 Aug 2018 Here's what RB governor Orr said today
09 Aug 2018 What the bank said: OCR unchanged and to stay low for longer
09 Aug 2018 [GRTV] Richard James reflects on the past 10 years at NZ Funds
08 Aug 2018 NZ shares drop as Pushpay weakens further while Skycity gains on earnings
08 Aug 2018 Watch RBNZ's MPS announcement live
08 Aug 2018 Proof rent can be paid crucial
08 Aug 2018 Wearable devices: The promise and the reality for insurance
08 Aug 2018 ANZ scraps staff sales incentives
08 Aug 2018 AMP profits down, but result solid
08 Aug 2018 Slow rise for Auckland rents
08 Aug 2018 Bluestone gets a new BDM
08 Aug 2018 Conduct, not law, best way to deal with commission: FMA
08 Aug 2018 Rate hike challenge looming
08 Aug 2018 HSBC does it again with significant rate cuts
08 Aug 2018 Simplicity in the black after two years
08 Aug 2018 Over-60s retain health cover
07 Aug 2018 Avanti product changes; Officials respond
07 Aug 2018 Aussie report calls for end of trail commission
07 Aug 2018 Avanti makes major home loan changes
07 Aug 2018 Here's what officials thought of FSLAB submissions
06 Aug 2018 nib expands its travel insurance business
06 Aug 2018 Revealed: What MBIE told MPs about financial advice
06 Aug 2018 How to profit from the new plan
06 Aug 2018 A breach of trust? Private asset ownership in KiwiSaver
06 Aug 2018 Select committee guidance revealed
06 Aug 2018 nib: Website criticism gave us a boost
03 Aug 2018 [The Wrap] Advisers put on the (f)SLAB by MPs
03 Aug 2018 Mortgage fraudsters jailed
03 Aug 2018 Auckland sales, listings down
03 Aug 2018 OCR Preview; What's likely to happen next week
03 Aug 2018 OCR preview: Reserve Bank tipped to remain cautious
03 Aug 2018 Bed tax diminishes value of Airbnb rentals
03 Aug 2018 NZ Trustee Services appoints new GM
03 Aug 2018 CWG: Code change not major overhaul
02 Aug 2018 The Big Risk: The Creditors' Revolt
02 Aug 2018 Banks being more fussy; FSLAB outcome slammed
02 Aug 2018 Tenant turnover trending down
02 Aug 2018 FNZ shareholders eye sale
02 Aug 2018 Beattie steps back from top job at Booster
02 Aug 2018 FSLAB consultation 'waste of time'
02 Aug 2018 Milford's fee income income increases 31%
01 Aug 2018 Mike Pero Mortgages boss warns of “forensic underwriting”
01 Aug 2018 General Finance stock market listing moves closer
01 Aug 2018 Fidelity Life offers relief to M. bovis farmers
01 Aug 2018 Strength in lower-end of market
01 Aug 2018 Select Committee told: Could do better
01 Aug 2018 Select Committee told: Could do better
01 Aug 2018 Stock on market falls further
July 2018
31 Jul 2018 FSC awards open
31 Jul 2018 Committee proposes FSLAB changes
31 Jul 2018 Development fraudsters guilty
31 Jul 2018 Consents down yet construction growth forecast
31 Jul 2018 Committee proposes FSLAB changes
31 Jul 2018 [GRTV] Former NZ Funds Management chief executive Richard James
31 Jul 2018 Partners Life records strong profit
31 Jul 2018 nib backs controversial TripAdvisor of healthcare site
31 Jul 2018 Advisers 'struggle to balance regulator and client'
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