GoodReturns
Archive - 2010
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July 2010
04 Jul 2010 Rates Round Up
02 Jul 2010 Interest rate decisions not so easy now
02 Jul 2010 New Code of Conduct out
02 Jul 2010 Commercial investment opportunity
02 Jul 2010 Rents will rise as house prices fall: Westpac
02 Jul 2010 OCR uncertainty
02 Jul 2010 Major cuts
02 Jul 2010 Govt expect to take two months to consult over regulation changes
02 Jul 2010 Marac merger with building societies could go ahead this year
02 Jul 2010 Now's the time for maintenance
01 Jul 2010 No prior ranking creditors ahead of St Laurence investors
01 Jul 2010 Equitable changes its approach
01 Jul 2010 Banks punch below their weight
01 Jul 2010 Retail banks market share
01 Jul 2010 Kiwibank slashes two-year rate to provide certainty
01 Jul 2010 Kiwibank cuts home loan rates
June 2010
30 Jun 2010 No obstacle to NAB bid for AXA in New Zealand
30 Jun 2010 Dorchester ‘humbled’ by debenture holders’ support for plan
30 Jun 2010 Goldman Sachs JBWere loses its RBNZ exemption
30 Jun 2010 Evitt re-joins AIA
30 Jun 2010 Legislation: freedom of choice
30 Jun 2010 Allied accuses Hanover of breaching agreement
30 Jun 2010 Non-bank sector gets new representative
30 Jun 2010 MED officials pushed for extension of QFE rules
30 Jun 2010 Solid response sees South Canterbury extend deposit rate special
30 Jun 2010 Forecasts for housing market off with the fairies
29 Jun 2010 New anti-churning rules introduced
29 Jun 2010 Westpac and Kiwibank race ahead in home loan lending
29 Jun 2010 Commercial building permits in doldrums
29 Jun 2010 NZF securitisation programme good news for NBDTs
29 Jun 2010 Financial advisers told despite the changes don't delay
28 Jun 2010 Banks battle it out for nine month deposit rates
28 Jun 2010 RBNZ to be pleased with growth
28 Jun 2010 Four adviser redundancies at ASB Securities
27 Jun 2010 Rates Round Up
27 Jun 2010 Adviserlink appoints new GM
25 Jun 2010 Tower wins right to insure ANZ wealth division customers
25 Jun 2010 A simple lesson in how monetary policy works
25 Jun 2010 Tower has a decrease of in-force premiums
25 Jun 2010 Category Two advisers can be authorised - now
25 Jun 2010 House building starting to rise again
25 Jun 2010 ANZ moves away from managed funds
24 Jun 2010 SCF news bad, but rates good
24 Jun 2010 Broker warns regulators had better be right over Hubbard
24 Jun 2010 NZF competes with banks for home loans
24 Jun 2010 ASB leads the charge
24 Jun 2010 MED proposes exempting independent advice from securities law
23 Jun 2010 Dorchester investors being offered liquidity
23 Jun 2010 Bridgecorp’s Petricivic and Roest face new fraud charges
23 Jun 2010 Continuing pressure on house prices
23 Jun 2010 All the banks have now hiked short-term rates
23 Jun 2010 Moral victory for investors; financial victory for ANZ
23 Jun 2010 Who is going to get ANZ's $45 million?
22 Jun 2010 Court action against ANZ, ING not worth the extra fine, regulator says
22 Jun 2010 ANZ settlement implications for financial advisers
22 Jun 2010 All the banks have now hiked short-term rates
22 Jun 2010 CDO Settlement: Securities Commission statement
22 Jun 2010 CDO Settlement: ANZ and ING's statement
22 Jun 2010 South Canterbury gets big ratings cut
22 Jun 2010 ANZ reaches record settlement over ING funds
22 Jun 2010 Kiwibank and Westpac rise time
22 Jun 2010 Reserve dispute resolution scheme revealed
21 Jun 2010 Hubbard flags offshore investor for South Canterbury Finance
21 Jun 2010 Auld is new at Morningstar
21 Jun 2010 Sovereign teams up with the world’s Best Doctors
21 Jun 2010 Kiwibank launches capped floating rate and hikes short-term rates
21 Jun 2010 Dunne backs call for health insurance tax deductibility
21 Jun 2010 Officials didn't ask for regulatory changes
21 Jun 2010 ANZ National quick to follow
21 Jun 2010 News round-up
20 Jun 2010 Some TDs rise with home loan rate increases
20 Jun 2010 Rates Round Up
18 Jun 2010 More banks increase short term home loan rates
18 Jun 2010 Auckland momentum follows rest of country
18 Jun 2010 Weekly wrap: What a regulatory mess we have
18 Jun 2010 RBNZ finally gets a response
18 Jun 2010 New Plymouth: Investing in the ‘Naki
18 Jun 2010 RBNZ finally gets a response
18 Jun 2010 Don't blame us: Consumer
18 Jun 2010 ASB first to hike rates
17 Jun 2010 Dorchester says Securities Commission being unhelpful
17 Jun 2010 Where to for house prices?
17 Jun 2010 How not to do it
17 Jun 2010 ASB opens the rate hike floodgates
17 Jun 2010 Banks in mortgage rate stand-off
17 Jun 2010 Reducing margins
17 Jun 2010 Van Eyk's NZ man defects to Mercer
17 Jun 2010 Simon Power pledges solution for category 2 advisers
16 Jun 2010 South Canterbury has no plans to be a bank
16 Jun 2010 More than 90% of SCF debentures will covered by extended guarantee
16 Jun 2010 Higher deposit rates here to stay, PSIS says
16 Jun 2010 Banks in stand off over home loan increases
16 Jun 2010 RBNZ to continue hiking
16 Jun 2010 Sovereign founder joins TNP board
16 Jun 2010 Who’s afraid of the big bad banks?
15 Jun 2010 Securities Commission calls Dorchester recapitalisation plan biased
15 Jun 2010 ANZ's head of broker distribution departs
15 Jun 2010 RBA stays unmoved
15 Jun 2010 Over 3,300 mortgage & insurance brokers can’t voluntarily become AFA’s
15 Jun 2010 Buyers have edge over sellers for now
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.
12 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.
14 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