GoodReturns
Archive - 2009
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December 2009
31 Dec 2009 Investigation into ING funds still 3 months away
31 Dec 2009 Commercial property investors will foot the bill of proposed land tax
30 Dec 2009 Holiday message
30 Dec 2009 SCF appoints new CEO
28 Dec 2009 Six pull out of govt retail deposit scheme
24 Dec 2009 Commission calls on QFEs to set high standards
23 Dec 2009 Marac to offer non-guaranteed term deposit
23 Dec 2009 Rate changes in the lead up to Christmas
23 Dec 2009 AXA advisers prefer NAB
23 Dec 2009 Property investors pay IRD extra $63m
22 Dec 2009 Meridian looks to issue bonds as well as notes
22 Dec 2009 The verdict on Fidelity Life’s new Platinum Plus
22 Dec 2009 Don't ban commissions: IFA
22 Dec 2009 Opinion: They’ve been misled, so they mislead you
22 Dec 2009 Provincial and coastal markets picked to improve
22 Dec 2009 ANZ property gauges point to decline in house prices
21 Dec 2009 Meltdown could have been worse than it was
21 Dec 2009 Cash PIEs get the official chop
21 Dec 2009 Rates Round Up
21 Dec 2009 News Round Up
21 Dec 2009 Westpac records above average lending growth
21 Dec 2009 Mortgagee sales to stay high for another 12-months
18 Dec 2009 [Weekly Wrap] No relAXAtion just yet
18 Dec 2009 One and two year rates up this week
18 Dec 2009 Half a decade of interest rate movements
18 Dec 2009 Commissions must go: Inquiry told
17 Dec 2009 PGG Wrightson sets up banking syndicate
17 Dec 2009 Investment managers favour equities
17 Dec 2009 Insurance groups opt for AFA standards
17 Dec 2009 AXA accepts NAB's offer
17 Dec 2009 Housing market plateauing
17 Dec 2009 Mercer Investment Series 2009
16 Dec 2009 BNZ, Rabo boost long-term deposit rates
16 Dec 2009 Hanover is dead; Long live the House of Farmers
16 Dec 2009 Hanover investors say yes to Allied
16 Dec 2009 Hanover investors vote to accept Allied Farmers shares
16 Dec 2009 Mercer Investment Series 2009
16 Dec 2009 Financial advisers' independence needs regulation
16 Dec 2009 Tower looks to double adviser numbers in next two years
16 Dec 2009 Tax changes will affect house prices
15 Dec 2009 ING reaches $1 billion mark with KiwiSaver
15 Dec 2009 Lifetime to buy Swains
14 Dec 2009 Investors to get power to put finance companies into receivership
14 Dec 2009 Strategic Finance now unsure of first payment
14 Dec 2009 House prices creep up a little more
14 Dec 2009 REINZ residential highlights - November 2009
14 Dec 2009 News round-up
14 Dec 2009 Investing made easy: Finding alternatives
13 Dec 2009 Rates Round Up
11 Dec 2009 [Weekly Wrap] Pick n' mix
11 Dec 2009 X marks the spot
11 Dec 2009 Having Super Choice
11 Dec 2009 Market Review: December 2009 commentary
11 Dec 2009 Sense of normality returning
11 Dec 2009 The good and the bad
11 Dec 2009 MMG alleges DNZ breached Companies Act, constitution
10 Dec 2009 IFA CEO goes
10 Dec 2009 Bollard turns more hawkish on next rate hike
10 Dec 2009 FULL SPEECH: OCR remains unchanged at 2.5%
10 Dec 2009 OCR update Dec 09
10 Dec 2009 OCR unchanged, pick-up in economy may drive early rate hike
10 Dec 2009 Crossan there to help the financial services sector
09 Dec 2009 BNZ barely profitable in quarter
09 Dec 2009 Questions over loan to former SCF boss McLeod
09 Dec 2009 PIS seals deal with risk group
09 Dec 2009 Shake up sees notes suspended
09 Dec 2009 New president for Society of Actuaries
09 Dec 2009 Residential real estate balancing out
09 Dec 2009 IFA continues name and shame regime; suspends member
08 Dec 2009 Building consents drop
08 Dec 2009 Market Review: December 2009 London commentary
08 Dec 2009 Capital protection kicks in
08 Dec 2009 Kiwbank's mortgage market share and profits keep growing
07 Dec 2009 Central bank in sweet spot with interest rates
07 Dec 2009 Hanover's Hotchin urges investors to ignore their dislike of him
07 Dec 2009 Life insurance sales soar, as do lapses
07 Dec 2009 News round-up
07 Dec 2009 QV main urban areas commentary: November 2009
07 Dec 2009 Property values stay positive as sellers stay put: QV
06 Dec 2009 Views divided on when OCR will start rising
06 Dec 2009 Rates Round Up
06 Dec 2009 Regional review: Prospecting Rodney
04 Dec 2009 Perpetual flags its concerns over Allied/Hanover deal
04 Dec 2009 Lombard Finance makes first payment to debenture holders
04 Dec 2009 [Weekly Wrap] The gloves are off
04 Dec 2009 Women in Super 2009 Christmas Lunch
04 Dec 2009 Investing made easy: Working backwards
04 Dec 2009 Commissions: “Know me before you judge”
03 Dec 2009 DNZ float scuppered
03 Dec 2009 Allied confident investors will support Hanover deal
03 Dec 2009 Floating - the best place to be
03 Dec 2009 Auckland prices reach almost two-year high
03 Dec 2009 Sell as much level term insurance as you can before tax changes
03 Dec 2009 Southern Cross ups rates
03 Dec 2009 MMG could scupper $140m DNZ float
02 Dec 2009 OCR “virtually certain” to stay at 2.5%
02 Dec 2009 Home loans help NZF grow its assets
02 Dec 2009 IRD potentially misleading over off-the-plan property sales
02 Dec 2009 Independent definition a problem for advisers
02 Dec 2009 Opinion: Insurance needs variation
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.
6 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.
9 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