GoodReturns
Archive - 2017
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June 2017
07 Jun 2017 Housing to be election battleground
06 Jun 2017 UDC: On track for sale
06 Jun 2017 Buying insurance cover for adult children
06 Jun 2017 Appeal loss for mortgage fraudster
06 Jun 2017 Market slow but steady – B&T
06 Jun 2017 The Co-Operative Bank cracks the $2 bill mark
06 Jun 2017 Campaign to get more AEDs
06 Jun 2017 Jenkins leaves NZX
06 Jun 2017 Future shocks could rattle Capital
02 Jun 2017 Eaqub, Halper join Simplicity
02 Jun 2017 Millions being paid for meth claims
02 Jun 2017 Co-Op Bank flat, but still with some fizz (+ STATS)
02 Jun 2017 Foreign buyer song remains the same
02 Jun 2017 Berry back on FADC
02 Jun 2017 Getting to Know: Trisha Edmonds
02 Jun 2017 GRTV: All eyes on Europe
02 Jun 2017 Investment gems in Lower Hutt
02 Jun 2017 Totara Wealth Management takes shape
01 Jun 2017 Market returning to normal
01 Jun 2017 Slower Auckland sets trend
01 Jun 2017 Give FMA insurance expertise: IMF
01 Jun 2017 Advisers told: Make sure tech is worth it
01 Jun 2017 Thursday news in brief
May 2017
31 May 2017 Consilium hires adviser support rep
31 May 2017 APIA issues sub-let warning
31 May 2017 One little change
31 May 2017 RBNZ renews push for DTIs
30 May 2017 Changing focus for Augusta
30 May 2017 Consents slump bad news
30 May 2017 GRTV: Welcome to Good Returns TV
30 May 2017 GRTV: A voice for the little guys
30 May 2017 Canterbury economic activity still robust
30 May 2017 Massey resumes work on advice degree
29 May 2017 AIA appoints new boss
29 May 2017 Capital gain time over?
29 May 2017 SBS makes a couple of changes
29 May 2017 Investor confidence at record high
29 May 2017 Rents will rise - Greens
26 May 2017 Weighing up apartments
26 May 2017 Getting to Know: Aaron Bowkett
26 May 2017 Supreme Court orders McIntosh to repay RAM 'profits'
26 May 2017 Chance to learn from licensing mistakes
25 May 2017 RESIMAC increases loan size limits
25 May 2017 Budget boost for tenants
25 May 2017 Southern Cross updates policies
25 May 2017 Thursday news in brief
25 May 2017 BNZ scoops People’s Choice award
25 May 2017 Big bold strategy
25 May 2017 Insurers want tweaks to client-first duty
25 May 2017 InvestNow mix-up disappointing: Stubbs
25 May 2017 Budget could boost advice promotion: Dodds
24 May 2017 Investor lending remains in check
24 May 2017 Tax changes ripple across the Tasman
24 May 2017 Tenant damage law change
24 May 2017 Have you got a question on the mortgage market?
24 May 2017 Time for sinking cap on KiwiSaver fees: Glass
23 May 2017 How do we change what ‘most people know’?
23 May 2017 More time needed for new rules
22 May 2017 No changes, so what's the best rate?
22 May 2017 Lifetime lowers investment bar
22 May 2017 Socially responsible investing (Part 4): Growing pineapples in Alaska
22 May 2017 HSBC hasn't ruled out working with brokers
22 May 2017 Life-Info founders want industry to take it over
21 May 2017 Broker sentenced to jail
19 May 2017 Non-banks winners as mainstream lenders tighten rules
19 May 2017 Getting to Know: Brian Coker
19 May 2017 FMA acknowledges regulatory 'burden'
19 May 2017 Migration dips but housing pressure remains
18 May 2017 Impact Investing for good
18 May 2017 Free Investment Property Showcase Events: Auckland, Wellington and Christchurch
18 May 2017 Trustee business sold to Australian firm
18 May 2017 Challenges ahead for Govt build project
18 May 2017 Look twice at insurance applications
18 May 2017 Thursday news in brief
18 May 2017 Former adviser forged clients' initials
18 May 2017 Up-and-coming v proven performer
18 May 2017 Wholesale rules a missed opportunity
17 May 2017 New face at Southern Cross
17 May 2017 Saturn appoints GM
17 May 2017 Kiwis leaving retirement planning too late
17 May 2017 House price bust talk exaggerated
17 May 2017 One little change today
17 May 2017 Inflation new drain on returns
16 May 2017 ANZ appoints new insurance distribution boss
16 May 2017 FSCL to appeal court ruling
16 May 2017 SuperCity to get 34,000 new houses
15 May 2017 Labour's negative gearing policy 'regressive'
15 May 2017 Tourism Holdings – Motoring Through the Capital Cycle?
15 May 2017 Pessimism clouds house price expectations
15 May 2017 Roboadvice could come sooner than law reform
15 May 2017 Pathfinder Asset Management launches RI option
15 May 2017 Investors: Labour policy would increase rents
12 May 2017 Getting to Know: Stephen O'Connor
12 May 2017 Kerr joins Chow board
12 May 2017 Past the peak?
12 May 2017 FMT expands with two new appointments
12 May 2017 Financial Advice NZ enters next phase
11 May 2017 No end to house price growth - Trade Me
11 May 2017 Monthly payment option on reverse mortgages
11 May 2017 Surprise at RBNZ’s OCR outlook
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.
10 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.
13 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