GoodReturns
Archive - 2000
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February 2000
02 Feb 2000 Complex anti-avoidance measures likely
01 Feb 2000 Managers controlling their appetite for risk
01 Feb 2000 REINZ urges Reserve Bank to let well alone
01 Feb 2000 Opinion: Current valuation techniques may become irrelevant
January 2000
31 Jan 2000 Still hot on houses
30 Jan 2000 News Round Up
30 Jan 2000 Retirement Commissioner Gains Taskforce Schools Competition
30 Jan 2000 What about pensioners' children and grandchildren?
30 Jan 2000 Alliance pleased to deliver on NZ Super
30 Jan 2000 Pensions to rise as Super wage floor restored
30 Jan 2000 Disestablishment of the Super 2000 Taskforce announced
28 Jan 2000 Pensioners get largest ever increase
28 Jan 2000 Grey Power applauds Government
27 Jan 2000 Financial Planning Conference secures high level speaking panel
27 Jan 2000 Take politics out of superannuation
27 Jan 2000 Government shortsighted over future of superannuation
26 Jan 2000 Online Broking: Differences between services explained
26 Jan 2000 Administration services: A booming business
26 Jan 2000 Mortgage pitched at retired investors
26 Jan 2000 Funds flow poor in December quarter
25 Jan 2000 Only One Solution To Superannuation Spat
24 Jan 2000 Cabinet gives Super 2000 the chop
24 Jan 2000 Higher mortgage rates hit house sales
24 Jan 2000 Super 2000 to get chop
23 Jan 2000 Emerging Markets and Asian Funds darlings of 99
23 Jan 2000 News Round Up
20 Jan 2000 ORC seeks to review its funding arrangements
20 Jan 2000 Employers embrace master trusts
20 Jan 2000 Banks face increasing competition this year
18 Jan 2000 AXA's big plans
16 Jan 2000 Online Broking: Comparing the offers
16 Jan 2000 Opinions divided on OCR increase
16 Jan 2000 News Round Up
14 Jan 2000 Fund managers under scrutiny
12 Jan 2000 One year fixed interest rates universally rise
12 Jan 2000 BT emerges more mainstream
10 Jan 2000 Spicers answer to higher tax rates
09 Jan 2000 Weekly briefs
08 Jan 2000 Research: New Zealand’s high dividend yields – what’s going on?
07 Jan 2000 ORC defends itself
06 Jan 2000 Which star signs are the best savers in the Zodiac?
05 Jan 2000 Weekly briefs
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.
2 days 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.
2 days 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.
4 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…
4 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".
4 days ago Paul Flood