GoodReturns
Archive - 2021
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August 2021
05 Aug 2021 Trading session left unfinished as NZX halts market
05 Aug 2021 Consilium appoints former MP to its board
05 Aug 2021 KiwiSaver rides the waves
05 Aug 2021 FSCL case highlights need for better record keeping
05 Aug 2021 Landlords given latitude over family violence and assaults
05 Aug 2021 Online investing platforms - breaking barriers, transforming attitudes
04 Aug 2021 Sticky investment for Pathfinder
04 Aug 2021 2000 new investors flock to latest commercial property deal
04 Aug 2021 NZ shares up as labour data shows economy running hot
04 Aug 2021 Award-winning exec joins Aurora
04 Aug 2021 Milford remains the gorilla of the funds management industry; others bleed
04 Aug 2021 Vendor demands heighten risk for movers
04 Aug 2021 Tenants refuse property viewing
03 Aug 2021 Logistics stocks led NZ shares marginally lower
03 Aug 2021 Tower hits the water with boat insurance offering
03 Aug 2021 $10k scholarship for insurance professionals opens
03 Aug 2021 Reserve Bank gets serious about 'risky lending'
03 Aug 2021 Income protection: Why taxable losses are not the right advice
03 Aug 2021 Companies office deregisters 458 FSPs
02 Aug 2021 Big growth stocks lead NZ shares higher
02 Aug 2021 nib campaign offers free cover for kids
02 Aug 2021 Stock shortages, prices boom
02 Aug 2021 Valuation issues worsen
01 Aug 2021 Once in a lifetime business - Take two
July 2021
31 Jul 2021 Changes at T Rowe Price
30 Jul 2021 NZ shares surrender yesterday’s gain
30 Jul 2021 House prices continue to ease
30 Jul 2021 FSCL case highlights clawback danger
30 Jul 2021 Fisher Funds donates $500k to mental health charities
30 Jul 2021 Tribunal: Tenants’ bond ‘kept in a tin’
29 Jul 2021 Mainfreight surges to $83
29 Jul 2021 FSCL case highlights clawback danger
29 Jul 2021 AIA admits to fair dealing breaches - could face $700k fine
29 Jul 2021 FMA releases cyber-safety fact sheet
29 Jul 2021 ICBC cuts 6 month rate, raises others
28 Jul 2021 Regulation fears spill into currency markets
28 Jul 2021 Canstar's top five Kiwi health insurers
28 Jul 2021 Commercial property sales booming
28 Jul 2021 Kiwis concerned about retirement savings
28 Jul 2021 FMA pings adviser for unauthorised advice
28 Jul 2021 SBS plans first home buyer product; Property market turning?
28 Jul 2021 SBS plans new first home buyer product
28 Jul 2021 PI scheme cover extended due to IT issues
27 Jul 2021 a2 Milk drops another 4% on regulation risk
27 Jul 2021 FMA issues scam warning
27 Jul 2021 Consultation opens for rollout of Financial Market Infrastructure Act
27 Jul 2021 Clients switching to three-year terms; Lending hits $8.5 bn in June
27 Jul 2021 How overpaying claims leads to product innovation
27 Jul 2021 Clients switching to three-year terms
27 Jul 2021 CoFI debate back on agenda
26 Jul 2021 a2 shares plunge as Chinese regulator flexes its muscles
26 Jul 2021 Mortgage lending boom continues through June
26 Jul 2021 Prospa NZ business soars
26 Jul 2021 House prices close to turning
26 Jul 2021 Auckland feels effect of LVR limits
26 Jul 2021 Input from insurers on solvency standards
25 Jul 2021 Eye-watering price growth in Wellington
24 Jul 2021 [GRTV] Time for a new code for managers
23 Jul 2021 NZ shares rise on 'covid-fear trade'
23 Jul 2021 Prospa prospers with fourth-quarter growth
23 Jul 2021 Underwriting delays for nib special offer
23 Jul 2021 Valuation profession adapts
23 Jul 2021 Valuation profession adapts
23 Jul 2021 Consumer data right goes to Parliament
22 Jul 2021 Shares drift sideways as RBNZ bond buying ends
22 Jul 2021 Valuation profession adapts and changes
22 Jul 2021 Accountants slam interest deductibility changes
22 Jul 2021 Accountants slam interest deductibility changes
22 Jul 2021 Murder House memories: why KiwiSaver investors need to brush-up on good financial habits
22 Jul 2021 FMA report slams insurers
21 Jul 2021 NZ shares climb while covid variant still looms large
21 Jul 2021 Council of Financial Regulators website goes live
21 Jul 2021 Flood claims cost almost $45 million
21 Jul 2021 Client concern over rising interest rates
21 Jul 2021 Cryptocurrency; Advisers wary but must evolve
20 Jul 2021 NZ shares recover early losses
20 Jul 2021 Client concern over rate rises
20 Jul 2021 FMA focus - Money laundering, cybercrime, disclosure and more
20 Jul 2021 The FSPR is moving in directions we haven’t discussed
20 Jul 2021 Westpac drops KiwiSaver fees
20 Jul 2021 Higher rates look inevitable
20 Jul 2021 ASB joins AMP on the BlackRock bandwagon
19 Jul 2021 More ships dock at Harbour
19 Jul 2021 Shares slide as covid continues to wreak havoc
19 Jul 2021 Economists lean towards OCR hike next month
19 Jul 2021 FMA publishes annual corporate plan
19 Jul 2021 AIA grant helps Tools Down with tradies' mental health
19 Jul 2021 Challenger banks hike rates; Small investors pull back
19 Jul 2021 Small investors pull back
18 Jul 2021 A good year minted
16 Jul 2021 Share market shuffles sideways as inflation soars
16 Jul 2021 Compliance Refinery expands
16 Jul 2021 Kiwibank cuts two-year rate, raises others
16 Jul 2021 LVRs kicking in for Auckland house prices
16 Jul 2021 Rate hikes: ANZ, BNZ and Westpac follow ASB
16 Jul 2021 Banks keen on crypto conversation
15 Jul 2021 Kiwi dollar hangs onto gains after RBNZ boost
15 Jul 2021 Woman loses over $100k in Forex scam
15 Jul 2021 OCR reaction: higher interest rates tipped for next month
15 Jul 2021 New independent director for Craigs IP
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