GoodReturns
Archive - 2002
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December 2002
30 Dec 2002 Tower buyer remains a mystery
30 Dec 2002 Gallacher becomes Mercer principal
24 Dec 2002 Insurance and Superannuation Unit
24 Dec 2002 New Morningstar boss
24 Dec 2002 Teachers given more choice
24 Dec 2002 Oh! What a year
23 Dec 2002 Housing market continues to bubble
23 Dec 2002 Summer Rentals: Renting out your own home; Nelson
23 Dec 2002 Building societies no shrinking violets
20 Dec 2002 Housing market continues to bubble
20 Dec 2002 Minto confirmed as head
20 Dec 2002 Three funds put on hold
19 Dec 2002 Returns on NZ Super fund cut
19 Dec 2002 NZSE indices get early holiday
18 Dec 2002 Kiwibank to use brokers
18 Dec 2002 Kiwibank to use brokers
17 Dec 2002 Guardians advance their thinking on investing the fund
17 Dec 2002 Offshore buyers push up Queenstown property values
17 Dec 2002 ING new recruit
17 Dec 2002 Speculation about JB Were
16 Dec 2002 Avoiding litigation
16 Dec 2002 Simple but effective
16 Dec 2002 Better business practices means better business
16 Dec 2002 Bluestone arrives in NZ
15 Dec 2002 News Round Up
13 Dec 2002 Quarterly survey to continue - for now
12 Dec 2002 Financial advisers regime to be strengthened
12 Dec 2002 Followers of style
12 Dec 2002 First NZ Capital and Securities become one
11 Dec 2002 Wanted to rent: any home, anywhere
11 Dec 2002 Stand-off in Auckland property boom
11 Dec 2002 Who will lead Tower?
11 Dec 2002 Kiwibank's lending conservative: Knowles
10 Dec 2002 Cullen gives lesson on diversification
10 Dec 2002 Rental Shortage: Hawera, New Plymouth
10 Dec 2002 Australian Property market 'almost bizarre'
10 Dec 2002 Court win for building safety
10 Dec 2002 ACT Press Release: Flawed Income Related Rents Bill
10 Dec 2002 Calan apologies
09 Dec 2002 Big changes at AMPH
09 Dec 2002 News Round Up
09 Dec 2002 Stevens leaves ASFONZ
08 Dec 2002 More mansions sold
06 Dec 2002 Tower chair attacks former ceo
06 Dec 2002 Sovereign launches a first
06 Dec 2002 Bridges burns Tower
05 Dec 2002 ANZ trains brokers
05 Dec 2002 Harvard Business Review Slams Cullen Super Fund
05 Dec 2002 Scobie joins Mercer
05 Dec 2002 Hong Kong: House prices dont always rise...
05 Dec 2002 Property Boom About To Cool Off
05 Dec 2002 Invercargill's rental housing shortage
05 Dec 2002 GSF performance OK'd
04 Dec 2002 Global gamble costs super fund $5000 per member
04 Dec 2002 Targeting Higher Net Worth Clients
04 Dec 2002 Three more Aust funds come to market
03 Dec 2002 Government Superannuation Fund Authority - Full report
03 Dec 2002 Funds Management World Australia 2002
03 Dec 2002 Market Review: NZ continues to be out of step
03 Dec 2002 BT adds hedge funds
03 Dec 2002 Mortgage Choice puts off listing
03 Dec 2002 Owen signs on again
03 Dec 2002 Women in Super
02 Dec 2002 CFA charter holders
02 Dec 2002 Adviserlink Introduction to Financial Planning
02 Dec 2002 News Round Up
November 2002
29 Nov 2002 Dakin heads Colonial Prop Fund
29 Nov 2002 Women finally reach parity with men in insurance
29 Nov 2002 Consumer still not happy with advisers
28 Nov 2002 Building Act Sound - Hunn Report
28 Nov 2002 Lord of the Rings sends house values soaring
28 Nov 2002 Gearing up for a risky shot at riches: Mary Holm
27 Nov 2002 Consents break 26 year record
27 Nov 2002 Public Trust profit promise (updated)
27 Nov 2002 Number of mortgage brokers falls
27 Nov 2002 Morningstar looks at its process
26 Nov 2002 NZers spend $19m in Gold Coast boom
26 Nov 2002 Sole resigns from Public Trust
25 Nov 2002 PSIS boss goes
25 Nov 2002 Leaky building lending
25 Nov 2002 News Round Up
23 Nov 2002 Prices rocket in city housing boom
22 Nov 2002 House Prices still strong
22 Nov 2002 Double dip chances fall
21 Nov 2002 Price still strong
21 Nov 2002 Holidaying On Your Investment Property
21 Nov 2002 Mortgage Rates Stable Until The End of 2003
21 Nov 2002 Urbus proposal succeeds
21 Nov 2002 Urbus proposal succeeds
20 Nov 2002 United Future welcomes Cullen superannuation move
20 Nov 2002 Good news for borrowers
20 Nov 2002 OCR unchanged
20 Nov 2002 Queen Street gets a makeover
20 Nov 2002 FPA Sydney
19 Nov 2002 BNZ appoints new relationship manager
19 Nov 2002 Adviserlink Essentials of Mortgage Broking
19 Nov 2002 Tower to keep trustee business
18 Nov 2002 All about registered valuations
18 Nov 2002 Fiona Judd named Planner of the Year
18 Nov 2002 A new laird for Whyte
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".
5 days ago Paul Flood