GoodReturns
Archive - 2019
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August 2019
12 Aug 2019 ANZ, BNZ rate cuts; FMA warns on licensing
12 Aug 2019 Chicken Little and the falling sky
12 Aug 2019 FMA boss tells RFAs the clock is ticking and they better hurry up
12 Aug 2019 Advisers call for servicing test rethink for borrowers
11 Aug 2019 Regulation of custody sector remains undecided
09 Aug 2019 [The Wrap] AMP lays out a bold future plan. Will it work?
09 Aug 2019 Sharemarket edge lower as investors await earnings season
09 Aug 2019 AMP completes capital raising
09 Aug 2019 Southern Cross recognised
09 Aug 2019 New Southern Cross CEO; Nelson Building Society rate cut
09 Aug 2019 Improvements in affordability nationwide
09 Aug 2019 Southern Cross names new CEO
08 Aug 2019 Advisers' ESG consideration blew our minds: Morningstar
08 Aug 2019 Kathmandu produces 'ripper' result
08 Aug 2019 Prospa raises $45 million for NZ funding
08 Aug 2019 Rate cut bonanza begins
08 Aug 2019 OCR cut could prompt housing market upturn
08 Aug 2019 AMP revises Resolution Life deal, further plans to spin off NZ wealth business
08 Aug 2019 Banks slash rates after historic OCR cut
08 Aug 2019 OCR will fall further: economists react to shock cut
07 Aug 2019 Default KiwiSaver scheme set for overhaul
07 Aug 2019 Kloogh's clients' missing $8 million
07 Aug 2019 Asteron reports lift in profit
07 Aug 2019 NZ shares climb as rate cut stokes demand for yield stocks; Mercury gains
07 Aug 2019 Reserve Bank surprises markets with 1% OCR
07 Aug 2019 OCR decision revealed
07 Aug 2019 Tenants need to know about insurance
07 Aug 2019 ASB lifts annual profit 8% but says underlying growth was subdued
07 Aug 2019 Official Cash Rate decision looms; Auckland prices fall
07 Aug 2019 KiwiWealth takes aim at Simplicity
07 Aug 2019 Affordability key to value growth
07 Aug 2019 Dealer groups face future without overrides
07 Aug 2019 Why are Australian banks investing in nuclear weapons companies?
07 Aug 2019 Tribunal fines landlord for insulation fail
06 Aug 2019 OnePath to disappear
06 Aug 2019 NZ market dives on escalating US-China trade war
06 Aug 2019 Share NZ appoints Compliance and Training Manager
06 Aug 2019 3 reasons SMEs struggle to get finance
06 Aug 2019 Talk of 0.75% OCR grows
06 Aug 2019 MyFiduciary signs big new client
05 Aug 2019 Health Funds shrugs off conduct scrutiny as insured numbers grow
05 Aug 2019 Milk shares droop on trade tensions; Local market follows Asia lower
05 Aug 2019 OCR will fall to 0.75%: Kiwibank
05 Aug 2019 Sir Brian Lochore remembered by financial advisers
05 Aug 2019 SBS cuts rates; OCR set to fall
05 Aug 2019 Investor confidence in property softens
05 Aug 2019 Ageing bull market may have longer to run: AMP Capital
04 Aug 2019 Greens renew call for tougher tenancy laws
02 Aug 2019 NZ stocks edge higher, led by Contact; Asian markets slide
02 Aug 2019 Banks, insurers' complacency 'hard to comprehend' - FMA
02 Aug 2019 Economists unanimous on rate cut
02 Aug 2019 Avanti hires south island regional manager
02 Aug 2019 Lower prices driving Auckland sales
02 Aug 2019 Newpark adjusts for new regime
02 Aug 2019 Partners Life gets its chief underwriter back
02 Aug 2019 Nikko: Young people active investors
01 Aug 2019 NZ shares mixed, weighed by A2 Milk, Tourism Holdings
01 Aug 2019 Fidelity Life updates pricing
01 Aug 2019 How junk is junk insurance and why should you care?
01 Aug 2019 Newpark in discussions with banks on new regime
01 Aug 2019 Mint gets responsibility tick
01 Aug 2019 Rates up at Heretaunga; General Finance growth plans
01 Aug 2019 Pushing up the national average price
01 Aug 2019 KiwiSaver 'as good as it gets'
July 2019
31 Jul 2019 Woes around the building sector weigh on market
31 Jul 2019 Ethical investing on human rights grounds 'too hard' - Simplicity
31 Jul 2019 AIA celebrates gender diversity
31 Jul 2019 The search for young talent starts
31 Jul 2019 Mixed bag in Partners results: Profit down, market share up
31 Jul 2019 Pace of rent growth slows in Super City
31 Jul 2019 Co-Operative Bank slashes rates
31 Jul 2019 Investors shake off bad publicity
30 Jul 2019 Growth stocks do well v electricity ones
30 Jul 2019 General Finance doubles loan book
30 Jul 2019 Auckland consents hit all time high
30 Jul 2019 COMMENT: The coming rental housing crisis
30 Jul 2019 Maple-Brown Abbott appoints new lead
30 Jul 2019 Could the Official Cash Rate fall to 0.75%?
30 Jul 2019 Investors want protection, but how?
29 Jul 2019 NZ shares rise as A2 buoyed by Bubs result
29 Jul 2019 OCR cut almost certain: BNZ
29 Jul 2019 Rental stock can’t match demand
29 Jul 2019 Kiwibank loan rates fall again
29 Jul 2019 AIA and Sovereign products merged into one
29 Jul 2019 Time to exit unnecessary fees
29 Jul 2019 Buoyant in the South
28 Jul 2019 Fund passport coming
28 Jul 2019 Milford records big increase in fee income
26 Jul 2019 Market ends week lower; Sky TV and A2 fall
26 Jul 2019 Southern Cross – service or not?
26 Jul 2019 New tenant damage, meth measures are only partial solutions
26 Jul 2019 [The Wrap] A true picture of financial advice about to be painted
26 Jul 2019 Coon brothers insurance start-up gets big funding boost
26 Jul 2019 Trust law reform gets green light
26 Jul 2019 ASB makes rate changes
26 Jul 2019 Transitional licence not a free ride
26 Jul 2019 FSC appoints disciplinary committee
25 Jul 2019 NZ shares resume march higher as A2 hits record; Gentrack sinks
25 Jul 2019 Tenants liable for careless damage – to a point
25 Jul 2019 Fixed rates to fall further: Westpac
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.
21 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.
23 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