GoodReturns
Archive - 2015
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December 2015
31 Dec 2015 Get your business on track for 2016
31 Dec 2015 Christchurch Central: Rising from the rubble
30 Dec 2015 FAA forums
30 Dec 2015 Focus on what's important in 2016
30 Dec 2015 What to look out for in 2016
29 Dec 2015 Housing with a heart
24 Dec 2015 Looking back on 2015
24 Dec 2015 Kauri controversy overlooks property rights
23 Dec 2015 Commercial market growing
23 Dec 2015 Rezoning windfall?
23 Dec 2015 IDS hires key industry figures
23 Dec 2015 Agreement disputes part of evolution: IFA
23 Dec 2015 Zone changes may be windfall for investors
22 Dec 2015 Harbour picks up mandate from AMP
22 Dec 2015 Mortgage lending grows
22 Dec 2015 Adviser career path needed
22 Dec 2015 NZIER economist appointed by wealth management firm
21 Dec 2015 Record breaking migration continues
21 Dec 2015 New proposal for banks off-quarter reporting
21 Dec 2015 Changing future for tenancies
21 Dec 2015 Times are changing
21 Dec 2015 KiwiSaver providers should take better care, Vernon says
21 Dec 2015 Banking on change
18 Dec 2015 Advisers vital for KiwiSaver: Beattie
18 Dec 2015 Muted response to Fed move
18 Dec 2015 Options paper discussed
17 Dec 2015 LendMe rejects fee criticism
17 Dec 2015 Finally
17 Dec 2015 Comcom charges real estate agencies after Trade Me row
17 Dec 2015 Rents on the rise
17 Dec 2015 Advertising of soft-dollar tempters not a good look
17 Dec 2015 FMC moves positive for clients: AMP
16 Dec 2015 Rents hit new high in Auckland
16 Dec 2015 Inflation risks skewed to the downside
16 Dec 2015 New director for Plus4
16 Dec 2015 What tenants want
16 Dec 2015 The Wolf Talks Turkey
16 Dec 2015 Advisers overdue for a pay rise
16 Dec 2015 Deposits to be returned to Springpark buyers
15 Dec 2015 Drop in apartment investment
15 Dec 2015 What tenants really want
15 Dec 2015 Being aware of urban change drivers
15 Dec 2015 Entity licensing benefits no one: Whyte
15 Dec 2015 Rewrites upset investors
15 Dec 2015 Jennings: No commission for replacement business
15 Dec 2015 AMP may wind up fund
15 Dec 2015 Take note of urban change drivers
14 Dec 2015 Regulatory changes slow Auckland market
14 Dec 2015 LendMe fees under question
14 Dec 2015 Active managers must be better...
14 Dec 2015 Retirees an advice opportunity
14 Dec 2015 Comcom examines LendMe fees
11 Dec 2015 Variable annuities get green light
11 Dec 2015 Momentum shifting
11 Dec 2015 Kiwis doubt their financial knowledge
11 Dec 2015 Partners offers mobile tests
11 Dec 2015 Harmoney to launch insurance product
11 Dec 2015 Harmoney to launch insurance product
10 Dec 2015 REINZ data shows market cooling
10 Dec 2015 GFS scoops up adviser awards
10 Dec 2015 National price growth strong
10 Dec 2015 BNZ makes third party distribution appointment
10 Dec 2015 Reluctance to cut may be wrong
10 Dec 2015 Tenancy Tribunal has bite
10 Dec 2015 OCR cut to 2.5%
10 Dec 2015 What the Reserve Bank said today
10 Dec 2015 OCR cut, maybe for final time. Rate cuts started
10 Dec 2015 Associations should step up to help consumers find advisers: Boyle
09 Dec 2015 NZTS deal done
09 Dec 2015 How Much Would You Pay to Live One Year Longer?
09 Dec 2015 What will the RBNZ say?
09 Dec 2015 Bolton: How do investors know P2P right for them?
09 Dec 2015 Cameron: MJW made little difference to FAA options
09 Dec 2015 GST decision could lead to higher fees
09 Dec 2015 New chair for NZSF
09 Dec 2015 Get smoke alarms, insulation sorted
08 Dec 2015 Pro bono work for IFA members
08 Dec 2015 Stephens to retire from Lifetime
08 Dec 2015 New magazine out now: Apartment Living
08 Dec 2015 Advisers ask: Is it fair accountants, lawyers outside law?
07 Dec 2015 Off the plan buys outside LVRs
07 Dec 2015 Oyster's latest offer promises 8.4% return
07 Dec 2015 Warming to responsible investing
07 Dec 2015 End of an era for Fidelity Life chief
07 Dec 2015 Fidelity Life CEO steps down
07 Dec 2015 Industry asks: Is transactional advice relief working?
04 Dec 2015 Mixed predictions for OCR movement
04 Dec 2015 Odds are on an OCR cut
04 Dec 2015 Senior Trust achieves listing
04 Dec 2015 PIMCO platform launches
04 Dec 2015 Harmoney changes fee structures
03 Dec 2015 Whangarei climbing out of Auckland’s shadow
03 Dec 2015 Devon 12th manager to get licence
03 Dec 2015 Health insurance bill defeated
03 Dec 2015 Mixed data seals deal
03 Dec 2015 Pain expected with FAA changes
03 Dec 2015 Grosvenor adds to research team
03 Dec 2015 Fears any new licensing regime will be onerous
02 Dec 2015 New normal threatens RBNZ tactics
02 Dec 2015 Threat to global growth from rising inventories
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.
20 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.
23 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".
3 days ago Paul Flood