GoodReturns
Archive - 2016
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December 2016
30 Dec 2016 Wrapping it up: The year in review
28 Dec 2016 Rare rate change
28 Dec 2016 Property in the blood
27 Dec 2016 Obituary: John Body
23 Dec 2016 Promoting warmer, drier rentals
23 Dec 2016 Not so normal Christmas
23 Dec 2016 Philip's Christmas message
22 Dec 2016 Things we wish we could insure against over the holidays
22 Dec 2016 Capital’s time to shine
22 Dec 2016 Shake-up for apartment laws
22 Dec 2016 More than one reason why rates rising
22 Dec 2016 Non-bank lender experience good growth
21 Dec 2016 Surprise spike in mortgage lending
21 Dec 2016 OCR hikes on the horizon
21 Dec 2016 Guide to good conduct
21 Dec 2016 Dispute over $2 mill life policy heads back to court
21 Dec 2016 No end in sight for record migration
21 Dec 2016 Happy rental tidings for landlords
20 Dec 2016 Milford Private Equity Fund II oversubscribed
20 Dec 2016 TOP tax policy criticised
20 Dec 2016 Co-Operative Bank CEO moves on
20 Dec 2016 ANZ hikes
20 Dec 2016 Couillault maps out Hobson's path
20 Dec 2016 Sealing the deal
19 Dec 2016 Rising rates, quieter market
19 Dec 2016 Mortgage advisers get a new minister
19 Dec 2016 Lifetime Group gets life business, sells general
19 Dec 2016 FMA not happy with AML reporting (+ Special Guide)
19 Dec 2016 Flat consents add to Akld supply woes
19 Dec 2016 $1 million penalty for Hamilton price fixer
18 Dec 2016 The personal finance design revolution
18 Dec 2016 Financial Advisers get new minister
16 Dec 2016 An adviser's guide to AML Compliance
16 Dec 2016 TripleA Advisers Association appoints independent chair
16 Dec 2016 Lifetime Group gears up for mortgages
16 Dec 2016 Apartment solution stumbling
16 Dec 2016 New fund out; Booster in
16 Dec 2016 Sovereign's medical changes welcomed
16 Dec 2016 A year of two halves for non-bank sector
16 Dec 2016 Rising rates, quieter market
15 Dec 2016 $320,000 fine for Youi insurance
15 Dec 2016 US Fed hike: When a tiny move matters
15 Dec 2016 Apartment solution stumbling
15 Dec 2016 Sovereign makes changes to health cover
15 Dec 2016 Another Ozzy fund turns up
15 Dec 2016 NZ rates boost with Fed move
15 Dec 2016 Fed move will boost NZ rates
15 Dec 2016 It's official: Retirement Commissioner calls for change
14 Dec 2016 Draft meth standard released
14 Dec 2016 DTIs hit stumbling block
14 Dec 2016 KiwiSaver fees must be disclosed in dollars - in the future
13 Dec 2016 Auckland apartment market cools
13 Dec 2016 Progress of DTIs stalls
13 Dec 2016 Newpark adds tech manager
13 Dec 2016 Second global investor join AMP Capital property portfolio
13 Dec 2016 Adviser smashes speed golf record
13 Dec 2016 Investor blame game unfair
13 Dec 2016 Fidelity's new boss rings in the changes
13 Dec 2016 Ken and Barbie used to sell retirement message
13 Dec 2016 Rebuilding after disaster
12 Dec 2016 Investor blame game unfair
12 Dec 2016 AMP NZ gets a new managing director
12 Dec 2016 The Co-operative Bank introduces new ratecard
12 Dec 2016 Young developer starts off robo advice site
12 Dec 2016 Rise in prices, sales as LVR effect dims
09 Dec 2016 Ralph Stewart-associated super fund gets QROPs licence
09 Dec 2016 NZ poised to top global house price list
09 Dec 2016 One lender introduces DTIs
09 Dec 2016 No OCR change on horizon
09 Dec 2016 Plus4 Insurance Group appoints a new Chairman and director
08 Dec 2016 Auckland's hot spot suburbs
08 Dec 2016 UDC Finance posts record net profit
08 Dec 2016 It's time to shine your light
08 Dec 2016 CFFC calls for seven changes to KiwiSaver
08 Dec 2016 NZCU Baywide gets awarded
08 Dec 2016 Housing market NZ’s biggest domestic risk - RBNZ
08 Dec 2016 Housing market NZ’s biggest domestic risk - RBNZ
08 Dec 2016 Property predictions for 2017 – Colliers
08 Dec 2016 Tax proposal targets property owners
07 Dec 2016 Tax proposal targets property owners
07 Dec 2016 Housing initiative unable to progress
07 Dec 2016 Foreign buyers biggest market influence - poll
07 Dec 2016 ASB appoints new senior executive to lead its retail business
07 Dec 2016 Westpac takes long rates higher
07 Dec 2016 TSB cops formal AML warning
07 Dec 2016 Fisher appoints NZ equities manager
07 Dec 2016 Traditional balanced fund models may not deliver
06 Dec 2016 Check record before committing
06 Dec 2016 Simon Fisher catches a CEO role
06 Dec 2016 Pie Funds targets Europe and the UK from Hawkes Bay
06 Dec 2016 Insurance group Preferred NZ looks to come out of the shadows
05 Dec 2016 Will Key resignation pave way for NZ Super changes?
05 Dec 2016 Kiwibank rises; Say no to DTIs broker group says
05 Dec 2016 Fee debate welcomed
05 Dec 2016 Price rises stop in Auckland
04 Dec 2016 Trump: Uncertainty as well as hope
03 Dec 2016 Mortgage group writes to Finance Minister about DTIs
02 Dec 2016 New CEO at Southern Cross Healthcare
02 Dec 2016 Back to the novel for holiday reading
02 Dec 2016 DTI ratios not expected any time soon
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.
1 day 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.
1 day 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.
3 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…
3 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