GoodReturns
Archive - 2009
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July 2009
08 Jul 2009 Changes to PIE tax regime
07 Jul 2009 South Canterbury Finance gets S&P warning
07 Jul 2009 No need to go floating
07 Jul 2009 Finance ministers to look at super portability
07 Jul 2009 Market Review: July 2009 Commentary
07 Jul 2009 Market Review: July 2009 London Commentary
07 Jul 2009 ASFONZ & Women in Super Industry Breakfast
07 Jul 2009 FundSource produces first research report
07 Jul 2009 Council rates scheme pays for insulation
07 Jul 2009 Property managers avoid more regulation
06 Jul 2009 Farmers prepare to square off against banks
06 Jul 2009 Westpac backs off rates cut prediction
06 Jul 2009 Lombard auditor questions value of debentures
06 Jul 2009 Bank fixed-lending rates 'reasonable', floating rates could fall
06 Jul 2009 Lombard to become kiwi shell for Aussie insurer
06 Jul 2009 Rates Round Up
06 Jul 2009 Communication key to financial literacy
06 Jul 2009 Urban area commentary - June 2009
05 Jul 2009 Property values increase as sales decline
03 Jul 2009 [Weekly Wrap] A week of submissions, discussions and disclosures
03 Jul 2009 Public Trust reorganising mortgage business
03 Jul 2009 Hubbard injects $40m into SCF
03 Jul 2009 Auckland home sales rise in June as prices dip
03 Jul 2009 Losing lustre
03 Jul 2009 F&P Finance ups long rates
03 Jul 2009 Glut of documents could hinder due diligence, IFA says
02 Jul 2009 S&P happy with Hubbard
02 Jul 2009 Leading Canterbury mortgage broker moves to Viva
02 Jul 2009 Mortgage Link recognises its champions
02 Jul 2009 Record numbers of auctions
02 Jul 2009 Spheres of influence revealed
02 Jul 2009 Short term rates cheap
02 Jul 2009 MED puts out paper on financial adviser disclosure
02 Jul 2009 Associated persons
02 Jul 2009 MortgageWatch: Smaller lenders move rates
01 Jul 2009 Equities find favour with managers
01 Jul 2009 Conservative approach the way for Geneva and St Laurence
01 Jul 2009 MPs decides against interest rate inquiry
01 Jul 2009 Former Richmastery company in liquidation
01 Jul 2009 Suncorp: Life doesn't mean life
June 2009
30 Jun 2009 Privacy Commissioner warns insurers over medical records
30 Jun 2009 KiwiSaver turns two
30 Jun 2009 SBS's March quarter profit jumps despite ballooning bad loan charges
30 Jun 2009 Awarding advisers of the future
30 Jun 2009 Unit Titles Bill makes management easier
30 Jun 2009 Providers need to win back public trust: English
29 Jun 2009 Forecasts predict longer term interest rates may rise
29 Jun 2009 Westpac's profit plunges as charges for bad loans soar
29 Jun 2009 Building approvals climb again, helped by rates
29 Jun 2009 News round-up
28 Jun 2009 Bill to force disclosure of break fees
28 Jun 2009 Positive endorsement for property market
28 Jun 2009 Rates Round up
26 Jun 2009 [Weekly Wrap] So, what do you think?
26 Jun 2009 Mortgagees back in vogue?
26 Jun 2009 AIG separation moves closer
26 Jun 2009 Health insurers boost premium income amid rising claims
26 Jun 2009 Hedging not such a big issue for NZ managers
25 Jun 2009 Immigrants not all good news for market
25 Jun 2009 Time to revolt?
25 Jun 2009 Long queue forms for complaints schemes
25 Jun 2009 Cash Flow Forecaster CD Software
24 Jun 2009 Certainty comes at a cost for home loans, warns ASB
24 Jun 2009 ANZ's bottom line drops, but interest income up
24 Jun 2009 Kingfish introduces quarterly dividends
24 Jun 2009 Com Com gives message to ING investors
24 Jun 2009 Com Com gives message to ING investors
24 Jun 2009 Opinion: What is trauma for?
24 Jun 2009 IRD cuts through AMP, PIMCO currency hedge
23 Jun 2009 Bank defends its pricing of mortgages
23 Jun 2009 No govt guarantee spells end for trust
23 Jun 2009 Housing set to prosper on strong migration
23 Jun 2009 The best two year rates
23 Jun 2009 Home loan interest rates are lower than they were 12 months ago
23 Jun 2009 Mortgage Watch: TSB flavour of the week
22 Jun 2009 Advice a one-in-five event, study finds
22 Jun 2009 Economists back to normal: they don't agree
22 Jun 2009 News round-up
22 Jun 2009 Economic times provide great opportunities: Free Webcast
21 Jun 2009 Rates Round Up
20 Jun 2009 Other banks unlikely to follow TSB
19 Jun 2009 Where to for home loan rates?
19 Jun 2009 [Weekly Wrap] DominatING headlines again
19 Jun 2009 Solving the ING Rubik’s cube
19 Jun 2009 Some explanations from BNZ
19 Jun 2009 Days of earning commission numbered: Arkinstall
19 Jun 2009 BNZ mortgage book grows, profit falls
18 Jun 2009 Complaints prompt Securities Commission to warn ING investors
18 Jun 2009 New paper on regulating advisers out
18 Jun 2009 Banks back insulation scheme
18 Jun 2009 Two up for Triplejump
18 Jun 2009 KiwiSaver funds back in black
18 Jun 2009 Deposit rates delaying property price recovery
18 Jun 2009 ASFONZ & Women in Super Industry Breakfast
18 Jun 2009 TSB drops two-year fixed rate
18 Jun 2009 AMP Capital sales chief goes in restructure
17 Jun 2009 PSIS says margin on deposits more than halved
17 Jun 2009 No magic bullet for sunset dates
17 Jun 2009 ASFONZ & Women in Super Industry Breakfast
17 Jun 2009 ANZ profit falls; mortgages sold to new branch
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.
7 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.
10 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".
2 days ago Paul Flood