GoodReturns
Archive - 2020
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August 2020
04 Aug 2020 Resimac slashes prime rates
04 Aug 2020 Auckland sees highest sales since 2015
04 Aug 2020 ANZ eases servicing test
04 Aug 2020 ANZ eases servicing test; Surge in new listings
04 Aug 2020 Kiwi insurers unscathed by Covid-19, S&P says
04 Aug 2020 ANZ eases servicing test
04 Aug 2020 Industry participants pick up more of FMA's tab
03 Aug 2020 NZ shares fall as Aussie lockdown bites
03 Aug 2020 Prices not impacted by new listings surge
03 Aug 2020 Legg Mason becomes part of Franklin Templeton
03 Aug 2020 BNZ slashes rates; Trouble in Queenstown
03 Aug 2020 'Retirees' stick with KiwiSaver, AMP says
02 Aug 2020 FMA restarts regulatory activities
02 Aug 2020 [The Wrap] Nats' KiwiSaver policy nuts
02 Aug 2020 [GRTV] Bascand outlines the keys to Covid recovery
01 Aug 2020 NZ shares rise as local earnings salvage sentiment
01 Aug 2020 The final countdown
July 2020
31 Jul 2020 Kloogh sentenced to prison
31 Jul 2020 Queenstown rents take a nosedive
31 Jul 2020 AMP predicts profit drop
31 Jul 2020 Non-banks get Covid boost
31 Jul 2020 200 issues: Top Regions Revealed
31 Jul 2020 Retail investor bubble; What's happening?
31 Jul 2020 Non-banks get Covid boost
30 Jul 2020 Covid-19 fog hangs over consents increase
30 Jul 2020 KiwiSaver managers shake off downturn
30 Jul 2020 Christchurch based financial advisor Patrick Clemenger talks about communicating outcomes and ensuring clients understand the advice he gives
30 Jul 2020 COMMENT: It’s not all doom & gloom
30 Jul 2020 Avanti launches near-prime home loans
30 Jul 2020 Avanti launches near-prime home loans
29 Jul 2020 Advisers warned to watch for vulnerability
29 Jul 2020 KiwiSaver sector slams National proposal
29 Jul 2020 Property stocks give market cheer
29 Jul 2020 Mortgage holidays set for extension
29 Jul 2020 Mortgage holidays set for extension
29 Jul 2020 Mortgage holidays set for extension
29 Jul 2020 Former Newpark CEO joins life company
28 Jul 2020 Pathfinder extends access to Ethical Trans-Tasman Fund
28 Jul 2020 NZ shares dip as investors await US earnings
28 Jul 2020 Keeping our eyes on the road ahead
28 Jul 2020 Opposition to RTA overhaul rages
28 Jul 2020 Negative OCR in April 2021: Westpac
28 Jul 2020 FMA upset at KiwiSaver report leak
27 Jul 2020 Insurer nib backs Ronald McDonald House with $20k investment
27 Jul 2020 Gold pushed to a record, while NZ shares fall
27 Jul 2020 Negative OCR in April 2021: Westpac
27 Jul 2020 Crunch time for tenancy law reforms
27 Jul 2020 Some sense with regulation
27 Jul 2020 COMMENT: Extend mortgage holidays
27 Jul 2020 The ultimate client relationship relies on…
27 Jul 2020 NZ Funds appoints head of risk
27 Jul 2020 Home lending jumps in June
27 Jul 2020 Castle Point fund washes up on KiwiSaver platform
25 Jul 2020 Trusted Adviser mark achievable for all members over time: Shanks
24 Jul 2020 [The Wrap] Promoting the value of advice
24 Jul 2020 US-China tensions weigh on global outlook pushing NZ shares lower
24 Jul 2020 Home lending jumps in June
24 Jul 2020 New urban planning rules for Councils
24 Jul 2020 Turnaround times deteriorate: survey
24 Jul 2020 Zenith New Zealand research on hold due to Covid-19
23 Jul 2020 Another down day on the market; Oceania reports weak earnings
23 Jul 2020 Turnaround times deteriorate: survey
23 Jul 2020 Demand is keeping prices resilient
23 Jul 2020 Should we be warning consumers about IP prices?
23 Jul 2020 Co-operative Bank rate cuts
23 Jul 2020 Advisers needed by potential clients, FMA research shows
22 Jul 2020 A2 and F&P Healthcare pull the market down
22 Jul 2020 OCR hold call straightforward; House prices to drop 6%
22 Jul 2020 OCR hold call is straightforward: BNZ
22 Jul 2020 A story of value v growth
22 Jul 2020 Non-disclosure case divides advice industry
21 Jul 2020 NZ shares surge on optimism over tech sector, covid vaccine
21 Jul 2020 Covid crisis will impact on market - in time
21 Jul 2020 HSBC drops rate to new record-low; ASB makes cuts
21 Jul 2020 Adviser stops scam: Saves client $60,000
20 Jul 2020 NZ shares fall as investors worry about virus spread
20 Jul 2020 HSBC home loan drops to new record-low
20 Jul 2020 Partner’s residence breached tenancy agreement
20 Jul 2020 Fidelity Life appoints new head of adviser distribution
20 Jul 2020 ASB eases servicing criteria; Kiwibank slashes rates
20 Jul 2020 ASB eases servicing criteria
20 Jul 2020 Delays to pension fix
19 Jul 2020 New Zealand equities managers outperformed in market recovery: MJW
17 Jul 2020 NZ shares rise as investors look for safety
17 Jul 2020 Servicing tests hinder home loan market
17 Jul 2020 Servicing tests hinder home loan market; Advisers welcome ASB move
17 Jul 2020 Servicing tests hinder home loan market
16 Jul 2020 Facial recognition tool launched for online AML checks
16 Jul 2020 Super Fund, AML rules on National Party's hit list
16 Jul 2020 Market gives back all recent gains
16 Jul 2020 Mortgage demand picked to decline
16 Jul 2020 ASB moves to single fixed rate card
16 Jul 2020 ASB cuts rates for high LVR borrowers
16 Jul 2020 Partners Life market changes
16 Jul 2020 Heartland eyes relaunch of digital home loan
16 Jul 2020 Retirement savings providers tipped to shine
15 Jul 2020 NZ shares rise as vaccine trial boosts global sentiment
15 Jul 2020 Heartland eyes relaunch of digital home loan
15 Jul 2020 Cigna appoints chief risk officer
15 Jul 2020 General Capital profits below expectations; Property market bounce
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.
1 day 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.
1 day 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.
3 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…
3 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