GoodReturns
Archive - 2023
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June 2023
29 Jun 2023 Banks prepare for rising bad debts
29 Jun 2023 Kiwi funds fattened by fossil fuels
29 Jun 2023 Mortgage lending still in doldrums – no lift in sight
28 Jun 2023 NZ sharemarket follows international leads
28 Jun 2023 Sir John Key: NZ economy in recession but not dire
28 Jun 2023 Company tax miss, rising bank provisions point to recession biting
28 Jun 2023 Giselle Baker is new Fidelity head of data and analytics
28 Jun 2023 NZ economy in recession but not dire: John Key
27 Jun 2023 Investors slumber as stocks move with no apparent rhyme nor reason
27 Jun 2023 If the FMA comes knocking can you supply docs in time?
27 Jun 2023 Financial advisers pose lesser distribution risk says FMA
27 Jun 2023 Gordon Davidson to take the helm when CEO Donna Cooper departs
27 Jun 2023 TSB CEO Donna Cooper departs
27 Jun 2023 Rents lift for suburban retail property
27 Jun 2023 Chubb launches new SME insurance product
27 Jun 2023 Migration scramble not boosting demand
26 Jun 2023 NZ sharemarket dips as global uncertainty intensifies
26 Jun 2023 Devon offers short term global green bond fund
26 Jun 2023 ANZ thinks the hurdle for OCR hikes in the next few months is high
26 Jun 2023 Interest rates drop might be further away
26 Jun 2023 Household finances in a vice
26 Jun 2023 [OPINION]Housing crisis makes growth all about ‘up-and-out’ not ‘up-or-out’
26 Jun 2023 Are investors missing out on once in a generation opportunities?
24 Jun 2023 Culture and conduct not part of bank competition study
24 Jun 2023 FMA outlines how it will monitor climate reporting in draft guidance on record keeping
24 Jun 2023 NZX appoints Smartshares chief executive
23 Jun 2023 NZX50 drifts as investors chew over week’s highs and lows
23 Jun 2023 Advices for potential home buyers
23 Jun 2023 National Capital hits $100m for KiwiSaver advice
23 Jun 2023 Property sales finally stop falling
23 Jun 2023 Potential home buyers urged to consult mortgage advisers
22 Jun 2023 Eroad shares jump almost 60%, Pacific Edge sinks further
22 Jun 2023 Commerce Commission banking study is not about bank conduct and culture
22 Jun 2023 Fresh highs for rents
21 Jun 2023 NZ market edges down as companies issue bad news
21 Jun 2023 It would be great if one day mortgage advising became a profession
21 Jun 2023 Mortgage advising should become a profession
21 Jun 2023 How's everyone doing?
20 Jun 2023 NZX50 rises as consumer confidence remains poor
20 Jun 2023 Partners Life cuts some policy pricing, promises more
20 Jun 2023 Banks come under regulator's spotlight
20 Jun 2023 Competitiveness of banks under the spotlight
20 Jun 2023 West Coast joins the property price decline for the first time
19 Jun 2023 NZ sharemarket edges down as investors mull over last week’s data
19 Jun 2023 Hunt on for new Reserve Bank MPC members
19 Jun 2023 Climate reporting a scramble but collaboration will help
19 Jun 2023 Strategi CEO moving on, COO in charge of day-to-day
19 Jun 2023 FMA says monitoring isn't an audit or investigation
19 Jun 2023 Tony Alexander predicts
16 Jun 2023 NZ market turns over almost $400m as indices rebalance
16 Jun 2023 'As we have said, tailwinds are coming'
16 Jun 2023 Tailwinds are coming
16 Jun 2023 Generate puts $20m into new Icehouse Ventures fund
16 Jun 2023 AI: the fourth industrial revolution?
15 Jun 2023 Data-heavy day flattens NZ market
15 Jun 2023 Evaluating the effectiveness of climate reporting
15 Jun 2023 Confidence returning to the housing market slowly
15 Jun 2023 Challenger bank to leave NZ
15 Jun 2023 Marketing tips for mortgage advisers
14 Jun 2023 Auckland International Airport shares stumble, all eyes on Fed
14 Jun 2023 InvestNow to expand term deposits, KiwiSaver ETFs
14 Jun 2023 HSBC to withdraw from wealth and retail banking in NZ
14 Jun 2023 Where to buy property
14 Jun 2023 Open banking could change lending; How advisers can diversify their businesses
14 Jun 2023 [OPINION] How brokers can diversify to support small business
14 Jun 2023 House values hold where first home buyers active
14 Jun 2023 Some banks will be ready for open banking before May 2024
13 Jun 2023 NZ tech stocks miss out on Nasdaq highs
13 Jun 2023 Nearly $300,000 wiped off Auckland house values
13 Jun 2023 More competition in online home loans coming; ANZ increases rates
13 Jun 2023 New PI insurer bundles in retroactive cover
13 Jun 2023 Competition is coming for Heartland's online mortgages
12 Jun 2023 NZX50 dips as investors wait on data
12 Jun 2023 Are Kiwis recession-ready?
12 Jun 2023 Three scenes for how climate change will impact portfolios
10 Jun 2023 Drop the money jargon urges Retirement Commission
10 Jun 2023 [GRTV] AI and investment, is active management delivering?
09 Jun 2023 NZX 50 slips as Auckland airport shares rise
09 Jun 2023 Another major player sees uptick in first-home buyer activity
09 Jun 2023 Illegal car park storage could mean end of tenancy
09 Jun 2023 Weighing up objectives when it comes to investing
09 Jun 2023 Another major player sees uptick in first-home buyer activity
09 Jun 2023 Stewart Group welcomes advisers to mid-market ACI Funds
09 Jun 2023 Medium density housing keeps rents lower
08 Jun 2023 NZX50 dips for third day in a row
08 Jun 2023 Heading in the right direction
08 Jun 2023 FHB enquiries picking up
08 Jun 2023 Scrutinise borrowing in light of trust tax rise
08 Jun 2023 [GRTV] No escaping responsible investment
08 Jun 2023 Easing of LVR restrictions lifts first-home buyer enquiries
07 Jun 2023 Pacific Edge's plunge helps NZX50 to lowest level in 10 weeks
07 Jun 2023 What impact will the election have on mortgage advisers?
07 Jun 2023 Huge amount of income to service investment property
07 Jun 2023 ‘Greenhushing’ another form of greenwashing says Aussie watchdog
07 Jun 2023 Aussie private equity fund added to Apex
07 Jun 2023 [OPINION] Property investors just as guilty of short-termism as stock market investors
07 Jun 2023 Pie Funds adds director and adviser
07 Jun 2023 Tax hikes make PIEs shine
06 Jun 2023 Big news drive big moves on sharemarket
06 Jun 2023 New data shows steep declines in lending; Former non-bank BDM takes on new role
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.
22 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.
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