GoodReturns
Archive - 2013
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May 2013
24 May 2013 Want to go to Sydney?
24 May 2013 Urgent action required over banks' KiwiSaver selling tactics
24 May 2013 Lender given another serve
24 May 2013 Consider trauma instead of medical cover: Partners
24 May 2013 Top three Barfoot agents turn over $200m
23 May 2013 Jenning's gems
23 May 2013 IFA hands out awards
23 May 2013 RFAs should become AFAs
23 May 2013 AMP reviews fund composition
22 May 2013 Kiwibank outlook downgraded
22 May 2013 IFA gets two new directors
22 May 2013 Don't bet on Aussie banks: PM Capital
22 May 2013 Kiwibank outlook downgraded
22 May 2013 Auckland lacking homeowners: Survey
21 May 2013 Here's one for the FMA
21 May 2013 Salt gets COO from AMP Capital
21 May 2013 Top mortgage brokers named
21 May 2013 Advisers' Code about to get tweaked
21 May 2013 Get systems right, property investors reminded
20 May 2013 PAA chairman resigns
20 May 2013 Lender of the year named
20 May 2013 LM court date pushed back
20 May 2013 Partners wins PAA gong
20 May 2013 RBNZ confirms macroprudential tools
20 May 2013 Kiwis backing rental property
18 May 2013 New to Business versus Business Overheads Cover
17 May 2013 S&P sounds warning to some lenders
17 May 2013 S&P sounds warning to some lenders
17 May 2013 Advisers told to dob in peers
16 May 2013 Final battle for control of Mike Pero Mortgages starts
16 May 2013 Mike Pero accusations fly
16 May 2013 Budget eyes property market
15 May 2013 Adviser data safe dispute scheme says
15 May 2013 Kiwibank does a switch
15 May 2013 Kiwibank switches home loan specials to two year term
15 May 2013 Investors 'need to take responsibility'
15 May 2013 Kiwi houses too expensive: IMF
14 May 2013 AFA requirements should be stricter: Hughes
14 May 2013 Fidelity not hiring TOWER's sales force
13 May 2013 Aussies take slice of Edge
13 May 2013 Another new fund manager pops up
13 May 2013 Buyers giving up: Survey
13 May 2013 Sales numbers up but prices ease: REINZ
12 May 2013 Revamp planned for AX
12 May 2013 IFA names Grayland replacement
10 May 2013 AIS opens the doors on its investment strategy discussion
10 May 2013 [Weekly Wrap] What's left for TOWER?
10 May 2013 Dominion Finance director pleads guilty
10 May 2013 Lifetime grabs top broker
10 May 2013 TOWER life business sold
10 May 2013 Westpac outsources to employees
10 May 2013 FMA 'too slow'
10 May 2013 Accord fast-tracks developments
09 May 2013 TOWER staff branch out
09 May 2013 Stats hide large variations: QV
09 May 2013 QV reports price momentum spreading
08 May 2013 RBNZ introducing macroprudential tools 'soon'
08 May 2013 Harbour Monthly Commentary: The Threat of Inflation or Deflation
08 May 2013 Third time lucky for equity derivatives?
08 May 2013 FSC policy replacement guidelines 'irrelevant'
08 May 2013 Kiwis expect prices to carry on rising: ASB
07 May 2013 Gold recovers but growth 'limited'
07 May 2013 Interest rate warning for borrowers
07 May 2013 Reserve Bank policies get blame for lagging rents
06 May 2013 More action with one-year home loan rates
06 May 2013 BNZ takes the one-year lead
06 May 2013 nib appoints NZ CEO
06 May 2013 Fund managers ineffective: Report
06 May 2013 Council eyes Plan profits
06 May 2013 Insurance changes: Don't guesstimate
03 May 2013 Westpac reduces appetite risk
03 May 2013 ANZ appoints private banking boss
03 May 2013 Tyndall Monthly Commentary:Dangerous Assumptions Impact New Zealand
03 May 2013 FMA gets 'good' report card
03 May 2013 Geneva announces early payment
03 May 2013 Upward price momentum stalls: Barfoot and Thompson
02 May 2013 TNP makes GM of ops
02 May 2013 Trilogy in court to win control of LM mortgage fund
01 May 2013 Dorchester announces structure simplification, dividends
01 May 2013 Pathfinder Monthly Commentary: Investing in Japan – an emperor with new clothes?
01 May 2013 Finance sector more appealing: Survey
01 May 2013 Growth funds report strong returns
01 May 2013 Finance company customers seek out banks
01 May 2013 Asking prices climb
01 May 2013 ANZ: Is market sustainable?
April 2013
30 Apr 2013 RESIMAC rate changes
30 Apr 2013 No charges for Hanover: SFO
30 Apr 2013 Westpac makes its one-year rate look good
30 Apr 2013 Westpac makes its one-year rate look good
30 Apr 2013 Partners Life rejects restructure scepticism
30 Apr 2013 Inflation warning from Fisher
30 Apr 2013 Consent drop may be a blip
29 Apr 2013 Anger at delay in asking big Ross questions
29 Apr 2013 New low equity charge from Westpac
29 Apr 2013 New low equity charge for Westpac customers
29 Apr 2013 Next set of new rules tweaked thanks to Ross Asset Management
29 Apr 2013 HNZ targets investors
26 Apr 2013 [Weekly Wrap] Commission is this week's buzzword
26 Apr 2013 FMA chairman reappointed
26 Apr 2013 Do commissions damage customer trust?
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