GoodReturns
Archive - 2016
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July 2016
06 Jul 2016 Support for $100k FMA conference
05 Jul 2016 Hamilton values skyrocketing
05 Jul 2016 Akld prices up again - as expert urges “crash”
05 Jul 2016 Code Committee members reappointed
05 Jul 2016 RBNZ quandary
05 Jul 2016 OCR quandary for RBNZ
05 Jul 2016 FMA fraudster appeals
05 Jul 2016 AMP plans new funds
05 Jul 2016 NZPIF added to meth committee
04 Jul 2016 Let's deal with rogue advisers
04 Jul 2016 Credit growth reaches new levels
04 Jul 2016 Speeding up housing development
04 Jul 2016 Hard to find right advice fit
04 Jul 2016 Associations: Act on dodgy advice
01 Jul 2016 A little competition to end the week
01 Jul 2016 Bayleys to pay $2.2m over price-fixing
01 Jul 2016 Accuro commemorates 45th birthday by strengthening ties with the public health system
01 Jul 2016 Tony Ryall to head nib's board
01 Jul 2016 Interest in SuperCity falls
01 Jul 2016 Housing debt risk growing - ANZ
01 Jul 2016 ASB seesaw
01 Jul 2016 Proposed FAA changes not a great shock: Goldsmith
June 2016
30 Jun 2016 Nikko's latest quarterly investment forecast
30 Jun 2016 Bad news on Auckland consents
30 Jun 2016 One little change
30 Jun 2016 'High-volume' advisers earn 50% more
30 Jun 2016 New suitability rules get industry backing
30 Jun 2016 Alternative lending options
29 Jun 2016 Supply boost could fuel prices
29 Jun 2016 What the FMA will do next
29 Jun 2016 Minister says no commission ban
29 Jun 2016 Churn report should include banks: Insurers
29 Jun 2016 FMA says commission drives churn
29 Jun 2016 FSC welcomes FMA report on life insurance sales practices
29 Jun 2016 Why financial advice matters
29 Jun 2016 Record high mortgage lending
29 Jun 2016 ASB hikes its floating rate
29 Jun 2016 The Co-op Bank ups a rate
29 Jun 2016 Pinnacle gets into income protection
29 Jun 2016 Industry groups seek more information
29 Jun 2016 Regional auction watch: Strong demand for family home
28 Jun 2016 Building a new advice process – Start With A Question
28 Jun 2016 Special rate rise; OCR cut now more likely; New RB data on loans
28 Jun 2016 Associations expecting 'yes' vote
28 Jun 2016 Transfer firms untroubled by Brexit
27 Jun 2016 What Brexit means for NZ investors
27 Jun 2016 Mortgage lending hits record high
27 Jun 2016 David Whyte takes chair of planning group
27 Jun 2016 Smartshares and SuperLife to amalgamate
27 Jun 2016 Brexit means August OCR cut likely
27 Jun 2016 Brexit: Don't panic
27 Jun 2016 Insurer reactions 'too slow'
27 Jun 2016 Finally some rate changes to report
27 Jun 2016 Southern (Auckland) charm
24 Jun 2016 Value houses on performance
24 Jun 2016 SBS reports growth in a difficult year
24 Jun 2016 SBS records growth in a "difficult" year
24 Jun 2016 'No commission' structure doesn't translate
24 Jun 2016 Boutiques take hold in NZ
24 Jun 2016 Meth bill on the cards
23 Jun 2016 Rents spike in regions
23 Jun 2016 Otago leads rental growth pack
23 Jun 2016 Turbo-charged returns can't last: Super Fund
23 Jun 2016 Roboadvice could complement adviser businesses
22 Jun 2016 Second SPGI director sentenced
22 Jun 2016 Mortgage lending raises red flag
22 Jun 2016 Migration past its peak - economists
22 Jun 2016 Borrowing frenzy risks
21 Jun 2016 [Comment] Advice matters
21 Jun 2016 Extra rates for investors?
21 Jun 2016 Accuro ventures deeper into SME market
21 Jun 2016 Forget returns and fees, investors told
21 Jun 2016 Regulation fears for advice businesses' value
21 Jun 2016 Check building guarantees - ComCom
20 Jun 2016 Local govt to target investors?
20 Jun 2016 Former finance firm completes full circle
20 Jun 2016 Institutional backing gets blame for high rates
20 Jun 2016 Westpac revises house price forecasts
20 Jun 2016 Banks boost adviser job ads
20 Jun 2016 FNZ signs up with service to improve efficiencies
20 Jun 2016 What's the home for direct-owned and listed property in a portfolio?
20 Jun 2016 Health & safety: what you need to know
18 Jun 2016 NZ equity management: Will the tight-five continue to dominate play?
17 Jun 2016 New adviser body not on NAC menu
17 Jun 2016 Woman guilty of mortgage fraud
17 Jun 2016 New adviser association - yes, no, maybe?
17 Jun 2016 Platform aims for 'Xero of investment admin'
16 Jun 2016 Shot on goal for AIA
16 Jun 2016 Your views on the (proposed) new adviser association
16 Jun 2016 Kepa's fees changes for mortgage advisers worrying move
16 Jun 2016 Trans-Tasman appointment for Milford
16 Jun 2016 SuperCity apartments winners for investors
16 Jun 2016 Regions hot, Auckland cooling
16 Jun 2016 Low interest rates likely to be a problem for some time
16 Jun 2016 Hot and cold in regional auction
15 Jun 2016 Regions outpacing Auckland - REINZ
15 Jun 2016 Commissions not driving adviser behaviour
15 Jun 2016 Ageing workforce an issue for advice
15 Jun 2016 It's swings and round abouts today
15 Jun 2016 Kepa to bump up adviser fees
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.
3 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.
3 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.
5 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…
5 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".
5 days ago Paul Flood