GoodReturns
Archive - 2022
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July 2022
02 Jul 2022 Fisher sells Master Trust business to Lifetime
01 Jul 2022 [The Wrap] The redemption of Moses
01 Jul 2022 NZ stock market finishes first half of 2022 down 18%
01 Jul 2022 UniMed picks up book of business
01 Jul 2022 Vocational Retraining - Does it work?
01 Jul 2022 Former AIA chief heads up Resolution Life
01 Jul 2022 Wealthpoint to drive growth for insurance and lending advisers
June 2022
30 Jun 2022 Eroad shares fall to all-time low
30 Jun 2022 Westpac third bank so suspend lending; How is it impacting you?
30 Jun 2022 Westpac third bank so suspend lending
30 Jun 2022 Mortgage cover in the ascendant
30 Jun 2022 Not if, but when construction starts falling
30 Jun 2022 Conduct laws finally real
30 Jun 2022 Controversial and coming soon, but how broad is COFI’s reach?
29 Jun 2022 NZ shares fall as market rally evaporates
29 Jun 2022 Flint sparks its first CEO
29 Jun 2022 ASB joins ANZ and stops low deposit loans; Loan Market loses CEO
29 Jun 2022 Loan Market CEO moves on
29 Jun 2022 Housing market top of list for severe price crash
29 Jun 2022 ASB joins ANZ in LVR cuts
29 Jun 2022 Rules for massive residential intensification only weeks away
29 Jun 2022 Pathfinder big winner
29 Jun 2022 Advisers face steeper PI premiums, free run-off cover disappears
28 Jun 2022 Sleepy day for NZ shares
28 Jun 2022 NZHL gets a new chief executive
28 Jun 2022 Former Westpac exec to head up NZHL
27 Jun 2022 OBITUARY: Controversial adviser dies at 80
27 Jun 2022 NZ sharemarket rebounds with Wall Street rally
27 Jun 2022 FMA sets its sights on cyber security: a new to-do list for embattled financial services providers
26 Jun 2022 New Code Committee members finally revealed
23 Jun 2022 Index heavyweights do the heavy lifting
23 Jun 2022 New dealer group option; Your networking event and product launch invite
23 Jun 2022 New player enters mortgage group space
23 Jun 2022 Patchy housing market shows widespread falls as well as some increases
23 Jun 2022 COFI bill plans further crackdown on sales incentives
22 Jun 2022 NZ shares fall as Eroad near all-time low
22 Jun 2022 Sustainable PIEs on menu
22 Jun 2022 Banks switch focus to refinancing
22 Jun 2022 Adviser calls on David Clark to name new appointees to code committee
21 Jun 2022 NZ shares rise as recession fears ease
21 Jun 2022 CoFI changes welcomed; ANZ takes the rates lead
21 Jun 2022 CoFI bill changes welcomed by advisers body
21 Jun 2022 Questions over new office construction
21 Jun 2022 Interest rates go higher
21 Jun 2022 The income equation: why the bond+equity solution still adds up
21 Jun 2022 Lower returns for longer; Advisers will have to work harder
20 Jun 2022 NZ shares flat as recession risk puts investors off trading
20 Jun 2022 Finzo adds compliance manager
20 Jun 2022 REVEALED: New conduct rules
20 Jun 2022 Govt softens conduct requirements for advisers
20 Jun 2022 Massey moves forward from Avanti
20 Jun 2022 Financial Services Council defends KiwiSaver after criticism
20 Jun 2022 Mortgage Express adds new adviser
20 Jun 2022 FNZ numbers revealed
17 Jun 2022 Cautious trading follows week of share market turmoil
17 Jun 2022 Pressure on interest rates to ease - possibly
17 Jun 2022 Pressure on interest rates to ease - possibly
17 Jun 2022 Twenty reasons not to abandon the housing market
17 Jun 2022 Code committee finally ‘legal’ but mystery surrounds new appointees
16 Jun 2022 NZ share market climbs as US Federal Reserve hikes interest rates
16 Jun 2022 CCCFA slows FAP progress; New CEO at Mortgage Express
16 Jun 2022 Mortgage Express gets a new, familiar, boss
16 Jun 2022 Financial services complaints body wins years-long court battle against chief ombudsman
16 Jun 2022 Uptick in litigation predicted if Insurance Contracts Bill passes in current form
15 Jun 2022 NZ shares stabilise as US Fed meets
15 Jun 2022 Housing market continues to take a battering
15 Jun 2022 OnePath and Cigna pinged by FMA
15 Jun 2022 CCCFA burden “hasn’t helped” the FAP licensing programme
14 Jun 2022 Bear market territory causes benchmark index to plummet almost 3%
13 Jun 2022 Canadian entrepreneur seeks to list crypto ETFs in New Zealand
13 Jun 2022 US inflation data sends share markets into a 'tailspin'
13 Jun 2022 Lower growth likely in GDP numbers this week
13 Jun 2022 Landlords should be focusing on higher yields
13 Jun 2022 How health insurance is bought these days
10 Jun 2022 NZ shares slip as US inflation data looms
10 Jun 2022 Banks splash the cash
10 Jun 2022 Banks splash the cash to get customers
10 Jun 2022 Asteron Life adds BDMs
10 Jun 2022 Craigs Investment Partners appoints head of strategy
09 Jun 2022 RBA's surprise hike continues to pinch bank stocks
09 Jun 2022 Seven months of profits gone
09 Jun 2022 Douglass to make a return to Magellan
09 Jun 2022 CCCFA changes to be revealed; SBS's profits up; New PI
09 Jun 2022 CCCFA changes finally revealed
08 Jun 2022 Fonterra shares jump after share buyback programme announced
08 Jun 2022 If you are frustrated with how long it takes to make an SOA, you are in good company
08 Jun 2022 New professional indemnity scheme released
07 Jun 2022 NZ shares fall as Sky TV shows its hand
07 Jun 2022 SBS bank raises profits
07 Jun 2022 Former ANZ exec joins Westpac board
07 Jun 2022 Construction activity rises
05 Jun 2022 How do we improve the retirement gap for women?
04 Jun 2022 Housing confidence crashes
03 Jun 2022 NZ shares rise as 'bad news is good news'
03 Jun 2022 Price retreat as sales escalate
03 Jun 2022 RBNZ could consider inequality as well as inflation
03 Jun 2022 New head of operations minted
03 Jun 2022 [WATCH] Now is not the time to sell an advice business
02 Jun 2022 NZ shares follow global markets movements
02 Jun 2022 Huge surge in number of properties for sale
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